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.
MassDOT Freight Plan Second Open House Set posted on Feb 22
MassDOT is hosting the second Open House for the Massachusetts Freight Plan as follows: Thursday, March 9, 4:00 PM to 5:30 PM, The Conference Center at Bentley University, Room 325ABC (Third Floor), 175 Forest Street, LaCava Campus Center #300, Waltham The second Freight Advisory Committee …Continue Reading MassDOT Freight Plan Second Open House Set
MBTA Names Design-Build Firms Interested in Green Line Extension Project posted on Feb 21
The MBTA has announced that an important step has been achieved for the Green Line Extension Project. The evaluation of the Statements of Qualifications (SOQ) for the project has been completed and three highly-qualified teams have been selected for the short list of firms that …Continue Reading MBTA Names Design-Build Firms Interested in Green Line Extension Project
MassDOT: Federal Emergency Management Agency Reimbursements posted on Feb 18
MassDOT has succeeded in recovering more than $21 million dollars from the Federal Emergency Management Agency (FEMA) in 2016 for past disaster events. These are reimbursements for MassDOT operations and logistics during past federal government disaster declarations and the reimbursements have been deposited into the …Continue Reading MassDOT: Federal Emergency Management Agency Reimbursements