Sunday, June 27, 2010

Mitigation Funds Being Used for Congress St. Bridge

Hub developer giving $3M for Southie bridge - BostonHerald.com
Boston Herald 6-28-10

Boston Properties is putting up $3 million in mitigation funds to improve
the Congress Street Bridge to South Boston¹s Fort Point area.

The Boston Redevelopment Authority has approved the transfer of the cash
from the Atlantic Wharf project, formerly Russia Wharf, under construction
along Fort Point Channel with an expected occupancy date in February.

The developer is providing public improvements to the area, including
Harborwalk, a plaza and promenade that connects to the water transportation
facilities at 500 Atlantic Ave., and Children¹s Wharf Park. It will also
expand the Congress Street sidewalk.

The attached bridge tender¹s house on the Congress Street Bridge has already
been demolished and will be replaced. Construction is expected to start this
summer.

BRA officials said a new facility is necessary to match the upgrades to the
area¹s public realm and to accommodate the expected increase in pedestrian
activity from those who live, work and visit the area.

Atlantic Wharf is a mixed-use development that includes up to 709,500 square
feet of office space, about 92,000 square feet of residential space with 65
residential rental units, 69,000 square feet of retail, restaurant and civic
space with 650 below-grade parking spaces.

Boston Properties has pledged a total of about $10 million in mitigation
funds for the Fort Point neighborhood.

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