For Immediate Release
March 11, 2011
For More Information Contact:
Mayor's Press Office
Today, Mayor Thomas M. Menino announced that five important development projects for Boston moved forward in the review process at the Boston Redevelopment Authority board hearing last night. Combined the projects will bring about 2,700 full and part-time jobs and nearly $473.6 million of private investment to the City of Boston. The five projects are spread throughout the city from Upham’s Corner in Dorchester to the Innovation District.
“Boston is experiencing an ongoing economic recovery with improvement in the office market, strong retail sales and tremendous gains in residential real estate but even with this progress, we must not relent in our efforts to create jobs, encourage private investment and grow the tax base of our City,” said Mayor Menino. “Last night, several very important projects took great steps forward in helping us to achieve that goal and keep Boston moving forward into the 21st century.”
Tentative Designation given to American Seafood Exchange to build $68.9 million seafood processing and distribution center in Boston's Innovation District
Number of jobs:
-300 union construction jobs
-1,500 permanent jobs once built
Private investment / Total project cost: $68.9 million
Total square footage: 350,000 square-feet
The BRA board approved the tentative designation of American Seafood Exchange (ASE) project for the redevelopment of the Marine Industrial Park’s parcels M and N at 3 Dolphin Way.
The new seafood processing and distribution center will re-establish the city as a fully-operational, working seafood processing port and position it for growth in the 21st century. The ASE will revolutionize the way seafood is processed, bringing it from the ocean to consumers in record time through the use of a new state-of-the-art facility comprised of a public display auction, cold storage/fresh transfer house and public packing house. This new development integrates the latest industry technology, facilities and equipment with green building technology and a sustainable design aimed at meeting LEED certification.
The new building will further transform South Boston into a vibrant port that incorporates industry best practices under one roof, providing a state of the art infrastructure to ensure that Boston supports and expands the seafood industry. The project will also include a public viewing station along the scenic harbor walk, allowing the public to experience the exciting, working water front.
The total project cost is estimated at $68.9 million, with $20.7 million in private equity funding. The project is expected to create more than 300 union construction jobs and support up to 1,500 permanent jobs.
The development team consists of American Seafood Exchange, LLC as the proponent; IN-SITE LLC as the development manager; Food Tech LLC as project engineers; CBT Architects and Strekalovsky Architecture as project architects; Brooks & Crowley as legal counsel; Cambridge Systematics as transportation consultants; Barclays Capitol, Cushman & Wakefield and Atlantic Management as real estate and equity sourcing advisors; and Jay Wickersham as environmental permitting consultant.
The Boston Marine Industrial Park (BMIP) is a 191-acre industrial park located on the southeastern edge of the South Boston port-area. BMIP is Boston's largest industrial park, encompassing more than 3.3 million square-feet of leasable building area. The park lies less than one mile from the heart of downtown Boston and Logan International Airport. BMIP contains an active dry-dock, benefits from 9,300 linear feet of shoreline and offers direct accessibility to transport by water, air, rail and highway.
Harvard University’s Innovation Lab in Allston Approved
Private investment / Total project cost: $20 million
Total square-footage: 78,000 square-feet
The Harvard Innovation Lab is a new and innovative initiative that will foster team-based and entrepreneurial activities and deepen interactions among students, faculty, entrepreneurs, and the community. Located at 125 Western Ave. in Allston, the Innovation Lab will intersect with Mayor Menino’s innovation agenda and activate a vacant building that once housed WGBH-TV.
The Innovation Lab will encourage entrepreneurship and innovation in Allston by providing the neighborhood with meeting rooms, as well as business development resources for businesses, nonprofits, entrepreneurs, and other individuals in Allston-Brighton neighborhood and the region.
It will also help the University by bringing together many cross-curricular interests, including Harvard College, the Faculty of Arts and Sciences, Harvard Business School, Harvard Law School, the School for Engineering and Applied Science, the Harvard Kennedy School and other schools.
Students, faculty, staff, alumni, interested neighbors, and local businesses will have access to Innovation Lab programming. Programming will include presentations and lectures for audiences that include university constituencies, small businesses, nonprofits, and neighbors.
In addition various non-profit organizations will deliver workshops that invite direct participation by attendees, as well as one-on-one coaching and business advisory services. Programming and connections are expected to grow and improve as the effectiveness of the initial offerings are assessed and new opportunities to provide useful content for all Innovation Lab audiences are identified.
The Harvard Innovation Lab is expected to open Fall 2011.
$32.7 million housing development to become a gateway to Upham’s Corner, Dorchester
Number of jobs: 200
Private investment / Total project cost: $32.7 million
Residential units: 80 units
Size: the development will cover 2.43 acres
The former St. Kevin’s Parish property on Columbia Road is set for redevelopment and will have a transformative affect on the Upham’s Corner neighborhood. The 2.43 acre site, once occupied by the St. Kevin’s School building, will provide new housing opportunities for families in Dorchester and spur economic investment in this important business district.
This project will bring a total of 80 new residential units to Dorchester including 12 one-bedroom, 60 two-bedroom and eight three-bedroom apartments. 20 units are designated for recently homeless families.
The project is being developed by St. Kevin’s Limited Partnership. It will create 200 construction jobs and is scheduled to start construction in 2012.
$200 million Hayward Place to create housing for families in Downtown Crossing
Number of jobs: 300
Private investment / Total project cost: $200 million
Approximate annual tax revenue: $2 million
Residential units: 265 units
Total square footage: 397,000 square-feet
Hayward Place Project, a $200 million, 397,000 square-feet residential project across from the Paramount Center in Downtown Crossing, received BRA board approval. This 15-story building will contain 265 housing units -- (76) 1-bedroom, (132) 2-bedroom, and (55) 3-bedroom units. The building will occupy a full city block that is bounded by Washington Street, Avenue de Lafayette, Harrison Avenue and Hayward Place.
Hayward Place will be the latest development in the City’s plan for Downtown Crossing which has recently seen the establishment of its first Business Improvement District and the restoration of three historic theatres: Suffolk University’s Modern Theatre, Emerson College’s Paramount Theatre, and the Boston Opera House. The developer plans to start construction in summer of 2011 bringing 300 jobs, and $2 million in annual tax revenue to our city.
$172 million residential tower receives approval in Chinatown
Number of jobs: 400 full and part-time construction jobs
Private investment / Total project cost: $172 million
-$7.35 million affordable assisted living
Residential units: 385 units
-75 units of affordable assisted living
Total square footage: 345,000 square-feet
Amenities: 4,000 square-foot community-oriented retail and office space
The board approved the plans of Kensington Investment Company, Inc./National Development to build a Class A rental apartment community at the confluence of Boston’s Financial District, Theatre District, Boston Common and Chinatown.
The 27-story project, called The Kensington, will be located at the corner of Washington and LaGrange Streets and will have a total of up to 385 residential units over 345,000 square feet of space. As part of its contribution to affordable housing, the developer has pledged to provide $7.35 million to Hong Lok House, an affordable assisted living facility in Chinatown that will provide 75 units of much needed housing for seniors.
The ground floor of the building will provide 4,000 square feet for community-oriented retail and office space. The project’s design will also reserve portions of this space for use at below-market rents by local nonprofit organizations. The design will also incorporate space for a public exhibit of Gaiety Theater artifacts. The construction of The Kensington will provide new and upgraded open space areas, further enlivening and improving the neighborhood. The project will contribute toward the capital funding required for the restoration, improvements and annual maintenance of Liberty Tree Park.
The Kensington groundbreaking is expected to take place in the summer of 2011, with construction complete in the summer of 2013. It is anticipated that the project will generate 400 full- and part-time construction jobs.