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Transit-Oriented Development

Client: Massachusetts Bay Transportation Authority (MBTA)

PROJECT 1: Canal Street, Boston, MA

Air rights lease for mixed-use commercial, residential and retail development

As part of Boston’s Central Artery Tunnel (“Big Dig”) Project, recent demolition of elevated transit and highway structures has created developable land and air rights in Boston’s Bulfinch Triangle – an area located between Canal Street, Causeway Street, Haverhill Street and New Chardon Street. The image shown is Hines Raymond LLC’s rendering of proposed building designs for Boston’s Bulfinch Triangle neighborhood.

As owner of the two primary parcels, which total 85,500 square feet, the MBTA has the opportunity to generate significant non-fare revenue while helping redevelop the area in a manner desired by the local community.

TRA worked with the Bulfinch Triangle Community Groups Task Force to create guidelines for developable air space. For this air rights lease initiative, TRA performed the following services:

  • Created developer interest in the site
  • Managed the public bid & selection process
  • Negotiated the final deal structure and documents
  • Navigated a variety of complex operational, environmental, public policy and title issues
  • In June 2005, as the result of a public bidding process, the parcels were designated to two developers: Trinity Financial, Inc. and Hines Raymond LLC. This effort represents a 99-year lease opportunity with an estimated value of $27 million.

PROJECT 2: Mishawum Station, Woburn, MA

Transit-oriented development

Mishawum Station is located in Woburn between Route 128 and Mishawum Road along the MBTA’s New Hampshire Main Line. Widely acknowledged as one of the most significant undeveloped sites remaining on Route 128, it consists of approximately 6.68± acres of land with about 780 feet of frontage on Route 128.

The subject neighborhood consists of hotels, office buildings, restaurants, industrial buildings, shopping malls and residences. The area experiences a considerable flow of vehicular employee and consumer traffic In June 2005, as the result of a public bidding process, James J. Mawn and Fortunato Salvucci were designated the developers of the parcels.


PROJECT 3: Ashmont Station, Boston, MA

Ground lease for a mixed-use residential and retail development at MBTA rapid transit station

Working with the MBTA's Design and Construction Department's Modernization Plan for this station, TRA is generating additional funds and improvements for the station area through the lease of excess land. For this ground lease initiative, TRA performed the following services:

  • Wrote the Request for Proposals
  • Managed the public bidding process
  • Selected the developer
  • Currently negotiating the ground lease

PROJECT 4: North Quincy Station, Quincy, MA

Air rights lease for proposed residential and commuter parking facility located at transit station

For this air rights lease initiative, TRA performed the following services:

  • Provided site review services and recommendations
  • Coordinated use and developer selection with the City of Quincy
  • Designed and developed a financing plan for the parking structure
  • Coordinated the permitting process

PROJECT 5: Woodland MBTA Station, Newton, MA

Ground lease for proposed residential and commuter parking facility located at transit station

For this ground lease initiative, TRA performed the following services:

  • Provided site review services and recommendations
  • Wrote the public bid package
  • Coordinated the bid process
  • Obtained input from the City on the parameters of the development
  • Subdivided the site
  • Negotiated the ground lease

PROJECT 6: Massachusetts Avenue Bus Terminal, Arlington, MA

Ground lease for an assisted-living facility adjacent to a MBTA bus terminal
Property sale for retail development across from terminal

For this ground lease and sales initiative, TRA performed the following services:

  • Worked with the MBTA to redefine bus operations layout
  • Sub-divided and rezoned the sites
  • Wrote the Requests for Proposals
  • Managed the public bidding processes
  • Selected the developers
  • Negotiated the ground lease and sale for each project

PROJECT 7: Summer Street, Somerville, MA

Ground lease for a residential development over MBTA rapid transit line

The land for this project is comprised of three house lots that were acquired as part of the MBTA’s Red Line Expansion project. For this ground lease initiative, TRA helped the MBTA and the developer design a residential building that wraps around an existing vent shaft and allows the MBTA’s Redline to run under the new complex without significantly impacting the quality of life of the building’s new residents. In addition, TRA

  • Wrote the Request for Proposals
  • Managed the public bidding process
  • Selected the developer
  • Negotiated the ground lease