Transit-Oriented Development
Hingham Shipyard, Hingham, MA
Client: Massachusetts Bay Transportation Authority (MBTA)
Waterfront mixed use development project
PROJECT DESCRIPTION: This new waterfront mixed-use development project includes a mix of new restaurants, many local and national retailers, entertainment destinations and a marina. The project will also include approximately 479 single and multiple family residential units with 24 units for affordable housing, and mixed-use office space with waterfront views.
TRA's ROLE:
- Identified the opportunity
- Managed the land exchange transaction
- Leveraged the business deal
- Maximized asset aquisition
- Negotiated all legal documents
CLIENT BENEFITS: Increased ridership and $7.5 million in improvements to the Hingham Ferry Terminal facilities for commuter parking, bus and vehicular access.
STATUS: Scheduled to open Spring 2010, this mixed use community is currently under development with Phase 1 complete. A commuter parking lot has been completed, providing 1,751 new parking spaces. Planning is in process for the development of a new multi use intermodal transit facility.