Friday, December 16, 2011

BRA Approves $150m Phase I of Pier 4 Project

Private investment /  project cost, phase I: $150 million
Total square footage, phase I: 373,000 square feet
Construction jobs, phase I: 400
Housing, phase I: 383 residential units, 35 on site affordable housing units in phase 1, and 50 on site innovation units

The Innovation District’s momentum continues with the BRA Board’s unanimous approval of phase 1 of the Pier 4 project, a three phase project located at 136-146 Northern Avenue on 9.5 acres.  Phase 2 and 3 will be approved as specific projects are submitted to the BRA Board for review.  The approval of Pier 4 just one month after the approval of 319 A Street answers the call for housing in the area.

Phase 1 is a $150 million project that will transform an existing restaurant, patio, surface parking, and deteriorating pier into a vibrant, waterfront mixed-use complex with 625,000 square feet of residential space, 20,000 square feet of public civic space, and 20,000 square feet of ground floor retail space.  Thirty-five of the residential units created in phase 1 will be affordable, and 50 of the residential units will be innovation housing.  When phases 2 and 3 are submitted to the BRA for review, there will be additional affordable housing.
Pier 4 will enhance the public’s interaction with the harbor by creating new waterfront open space areas, including a one-acre Waterfront Park, Waterfront Plaza, 1,800 feet of Harborwalk, the Water Commons consisting of a water taxi landing area and covered waiting area, public restrooms, and the All-Seasons Gathering Area linking to the civic space.  The deteriorating pier will undergo significant repairs, and the area will house a “touch and go” dock, fish cleaning station and bait and tackle shop.  Additionally, approximately $2 million will be contributed to improved water transportation services in the District.
As part of the District’s development into a 24-hour neighborhood, Pier 4 will bring residential, hotel, retail/restaurant, civic, and commercial uses to the waterfront.  Boston’s waterfront economy will be strengthened, and the Pier 4 project will create a new community on Boston’s waterfront.   Parking will move below ground opening surface area space for pedestrian use.  Community activities in new, open waterfront space will be created, and a pedestrian and vehicular network across the 9.5 acres will be built improving the physical and visual access of the public to the harbor.
The development team includes New England Development LLC, architects ADD Inc, and legal counsel, Goulston & Storrs, P.C.  Phase I will create 400 construction jobs.
The Innovation District is an area on the South Boston Waterfront focused on attracting startup companies and innovation industries.  Over 90 companies and 2,800 new jobs have moved to the Innovation District since the Mayor announced the creation of the district in January 2010.

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