Mayor Menino joined the Tyler Family to Announce $1.5M Renovation of the Former Welfare Building in East Boston
The Renovated Maverick Square Building to Serve as New Incubator Space for Businesses and Affordable Rental Housing
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For Immediate Release
June 02, 2012
Released By:
Mayor's Office
For More Information Contact:
Mayor's Press Office
Press.Office@cityofboston.gov

Mayor Thomas M. Menino, Department of Neighborhood Development Director Evelyn Friedman, and developers Melissa and John Tyler joined East Boston residents today to mark the beginning of a $1.5 million renovation for the vacant former Welfare Building located at 154 Maverick Street in East Boston.  The “Renovation Celebration” included a block party and tours of the building.

“Today marks an important step in realizing the community’s vision for this vacant building as we celebrate another step in the revitalization of Maverick Square, one of our City’s vibrant retail districts,” said Mayor Menino. “The rehabilitation of this once vacant building is an investment in the past – and the future – of this community. I want to thank Melissa and John Tyler for their vision and commitment to this important project.” 

In late 2007, Boston’s Department of Neighborhood Development (DND) initiated a community process with neighborhood residents and local organizations to determine a suitable redevelopment plan for the reuse of the vacant former welfare building, which had come into the City’s property inventory after it was no longer needed by the Commonwealth of Massachusetts. DND subsequently issued a Request for Proposal (RFP) and in 2008, selected the proposal of Melissa and John Tyler to renovate the space into a mixed-use property with affordable retail space for new entrepreneurs on the first floor, affordable office space on the second floor, and a unit of affordable rental housing and the Tyler’s new residence on the third floor.

Today’s celebration marks the latest milestone for the Maverick Square area. In 2010, Mayor Menino celebrated the renovation for a formally vacant firehouse on Sumner Street into a new 9,000-square-foot music facility Zumix that benefitted from $4.6 million in renovations, and boasts a performance stage, several soundproof rehearsal rooms, a recording studio, and a radio station.

The Tyler’s plan to rehabilitate the 3-story brick building at 154 Maverick Street includes both exterior and interior restoration.  The renovation of the property is expected to be complete by next year.  After completion, the building will be home to two families and new businesses that can lease space at below market rates

The more than $1.5 million renovation of the 154 Maverick Street has been made possible in part, by contributions from the City of Boston, a loan from First Priority Credit Union, and more than $500,000 in owner equity.

 

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