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Friday, 30 July 2010  11:55 AM EST 

  

 
Click here to see MBTA properties that are currently out for bid

Completed Projects

The properties listed below are Transit Oriented Development or other projects that TRA has already completed. For information on development opportunities and properties that are currently out for bid, and to sign up for the MBTA Bid List, see the Sales & Leases page.

 

Ashmont Station, Boston

Arborpoint at Woodland Station, Newton

Avenir (Parcel 1A), North Station, Boston

Hingham Shipyard, Hingham

Mishawum Station, Woburn

West Roxbury Backyard Program

Concessions, Master Leases and Licenses

 

Ashmont Station

Location: Dorchester, MA
Developer: Trinity Financial

TRA’S ROLE

  • Identified the development opportunity from a station modernization project
  • Developed the public Request for Proposals
  • Managed the public bidding process
  • Selected the developer
  • Negotiated ground lease
  • Provided critical analysis of development pro-forma to assure closing
  • Facilitated coordination between the TOD and station renovation

Client Benefits: The MBTA collected $1.425 million as the single up-front lease payment for the development rights.  The project also included a contribution to landscaping and maintenance of adjacent Ashmont Station and Peabody Square. 

Status:  An 85 year ground lease between Trinity Financial and the MBTA was signed in 2006.  Construction was completed and occupancy commenced in first quarter 2008. 

Project Description:  Transit oriented mixed use development resulting in construction of 116 units of mixed income housing, approximately 10,000 square feet of retail and 80 underground parking spaces on a site directly adjacent to the MBTA‘s Ashmont Station.

Arborpoint at Woodland Station

Location: Newton, MA
Developer: National Development

TRA’S ROLE:

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

Client Benefits: Prepayment of the $4.3 million ground lease payments allowed for the construction of a 548 unit parking garage, new entrance road, and redesigned handicapped accessible station platform. The project’s operating agreement calls for shared maintenance costs of the entry road and landscaping, reducing the MBTA’s long-term maintenance obligations. The MBTA will also recapture some of its financial contributions through parking fees generated by the garage.

Status:  A 70 year ground lease between National Development and the MBTA was signed in 2004. The MBTA parking garage and housing development are completed. The housing project is 95% leased.

Project Description:  Arborpoint at Woodland Station is a “friendly 40b” (Massachusetts high density/affordable/mixed housing project) Transit-Oriented Development incorporating 180 rental apartment units with 25% affordable units and a structured parking garage. 

Avenir (Parcel 1A)

Location: Boston, MA
Developer:  Trinity Financial

TRA’S ROLE: 

  • Identified the development opportunity
  • Generated developer interest in the site
  • Designed an appropriate public offering format based on extensive Community and governmental outreach
  • Managed the public bid and selection process in 2005
  • Navigated a variety of complex operational, environmental, public policy and title issues
  • Negotiated the final business deal structure and documents

Client Benefits:The MBTA received $9.86 million in revenue. Upon sale of residential units, the MBTA will receive an additional $9.86 million.

Status:  A 99 year air rights lease between Trinity Financial and the MBTA was signed in June 2005. Construction was completed and occupancy commenced in 2008.

Project Description: 10-floor mixed-use, transportation-oriented development that includes retail, a 121 space parking garage and 241 residential units, including 17 affordable units. 

 

Hingham Shipyard

Location: Hingham, MA
Developer:  Samuels & Associates

TRA'S ROLE:

  • Identified the opportunity
  • Managed the land exchange transaction
  • Leveraged the business deal
  • Maximized  asset acquisition
  • 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.  

Project Description: This new waterfront 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. 

Mishawum Station

Location: Woburn, MA
Developer: Mishawum Properties LLC

TRA’S ROLE:

  • Identified development opportunity
  • Devised business model
  • Coordinated public bid and selection process
  • Negotiated the land sale

Status: Mishawum Properties purchased 7.5 acres of land from the MBTA in November 2005.

Client Benefits: The MBTA received $7.2 million in revenues.

Project Description:  This project includes a mixed-use development with approximately 50,000 square feet of office space, 210 residential units, total of 596 parking spaces at the Mishawum Commuter Rail Station.

West Roxbury Backyard Program

TRA’s ROLE:

  • Created program to serve the purposes of both the MBTA and the neighbors by disposing of unwanted surplus property that had become a liability to the MBTA and allowing abutting residential neighbors to purchase backyard lots that essentially extended their backyards, enhanced their homes, and in some cases, cured encroachments
  • Managed public bid process
  • Worked closely with neighborhood and elected officials to develop a community plan for dealing with a long-standing public issue

Client Benefits: Generate revenues to client while effecting clean-up of surplus land and affording increased property value to the neighbors.

Status: The program has been implemented in phases.  Phase 1 is complete.  Phase 2 and 3 are largely completed.  To date the program has generated around $1.7 million to the MBTA.

Project: The MBTA established a unique surplus land disposition in conjunction with the neighbors to dispose of approximately one mile of abandoned rail right-of-way in Boston’s West Roxbury neighborhood know as the “West Roxbury Backyard Program”.

Concessions, Master Agreements and Licenses

TRA maximizes value to the MBTA through development and management of concessions, utilities, telecommunications, billboards and other advertising thorough a variety of leases, master agreements and licenses. 

In 2009 TRA generated over $2 million from direct management of approximately 50 retail and concession leases and master agreements.

TRA has spearheaded advertising and sponsorship programs that have generated around $3.4 million to the MBTA in 2009.  These programs encompass billboards, sponsorships of MBTA structures, and bus shelters.

TRA has increased revenue from a variety of utility and telecommunications licenses ranging from small municipal utility crossings, systemwide master fiber and wireless licenses.   TRA negotiated the first successful neutral-host subway wireless system in the U.S. In 2009, these licenses generated approximately $8 million.