Governor Deval Patrick joined Congressman Ed Markey, House Speaker Robert A. DeLeo and Mayor Tom Ambrosino today in announcing the Wonderland parking garage project in Revere is moving forward with federal stimulus American Recovery and Reinvestment Act (ARRA) funds along with MBTA bond revenue financing.
The funding plan gives the green light to begin construction in 2010 of the planned $47 million, 9-story, 1,900 space South Garage Parking Facility at the T's Wonderland Station on the Blue Line that will support Waterfront Square, left, a critical smart growth and transit-oriented development project.
The garage will improve access to the T and is a key phase one component of Waterfront Square, a planned mixed-use community of 902 residential units, 145,500 square feet of office space, a 100-room hotel and 28,000 square feet of retail space. Waterfront Square will create an estimated nearly 700 permanent jobs, with the parking garage creating an estimated 500 construction jobs.
The MassDOT Board last week authorized the $22.7 million award of federal stimulus ARRA funds and $11.3 million in MBTA bond revenue financing toward the project. The additional funds supplement federal and state funding previously allocated. Financial analysis indicates that parking revenues from the new garage will exceed the cost of the MBTA's borrowing and in fact will generate additional net revenues.
I-95 Add-A-Lane Project Update posted on Jul 6
MassDOT’s I-95/Route 128 Add-a-Lane Project final phase continues to move forward during the month of July. Throughout the week of July 6, MassDOT contractor Barletta Heavy Division will continue construction operations with work performed during both the standard working hours of 7:00AM to 3:00PM and …Continue Reading I-95 Add-A-Lane Project Update
MassDOT: Prioritizing Capital Projects Recommendations posted on Jul 2
MassDOT Secretary and CEO Stephanie Pollack today announced the publication of new recommendations for the evaluation and prioritization of proposed capital projects. The recommendations have been submitted to MassDOT by an independent Project Selection Advisory Council, which has worked for 18 months to develop a …Continue Reading MassDOT: Prioritizing Capital Projects Recommendations
MassDOT Secretary Pollack Launches Youth Pass Pilot Program posted on Jul 1
MassDOT Secretary & CEO Stephanie Pollack launched a year-long pilot program that will provide MBTA monthly passes to up to 1,500 youth between the ages of 12 and 21 in the cities of Boston, Somerville, Chelsea and Malden. At Roxbury’s Dudley Station, Secretary Pollack was …Continue Reading MassDOT Secretary Pollack Launches Youth Pass Pilot Program