Thursday, April 27, 2017

Stage Set For Power Plant Redevelopment

HRP 776 Summer Street, LLC, a joint venture of Redgate Real Estate Advisers and Hillco Redevelopment Partners, filled a letter of intent with the Boston Plans and Development Agency (BPDA) on April 24, 2017 for the redevelopment of the Edison Power Plant located at 776 Summer Street.  

The filing comes after two public Open Houses (Summer & Fall 2016) and two community workshops in January and February. Based on the recommendations of hundreds of South Boston residents, the project will:

  • Decommission and clean up the industrial site so it’s clean, healthy and safe
  • Take down the walls and fences surrounding the 15.2-acre site and create connections into and through it, so the property is accessible to the South Boston neighborhood down to the edge of the Reserve Channel
  • Rehabilitate and reopen three historic turbine halls, “allowing them to become the heart and soul of the project”
  • Create an acre-plus public open space adjacent to the Reserve Channel “that celebrates the working port”
  • Add local retail and other neighborhood amenities in ground-floor spaces
  • Create both indoor and outdoor spaces that support an arts and industry district for artists, artisans and makers

The proposed redevelopment of the approximate 15.2 acre site will most likely involve partial demolition and partial re-use of the existing buildings (Turbine Halls), and the construction of eight new buildings over the next 10 - 15 years. It is anticipated that the completed project will be 2.1 million square feet of residential, office, hotel, restaurant and other commercial uses along with ancillary parking. 

The filing of a letter of intent is followed by the submission of a project notification form, which starts the Article 80 review process. Given the size and complexity of this project, a planned development area plan will most likely be necessary.

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