Mayor Menino has very ambitious ideas about
redevelopingEast Boston,
namely through real estate investments and
infrastructure. There is obvious potential in the area, now stamped
by the Menino Administration with the name The Innovation District,
thus why Menino has deemed it necessary to grow Bostons shorelines.
One way to do that is to focus directly on the waterfront
surrounding our city and discerning better ways for us to use this
luxury. Therefore, on December 6th, 2011, Mayor Menino decided to
allocate $1 million dollars annually henceforth in an effort to
support and strengthen the Boston water transit
system. The idea of having a constant and consistent
neighborhood-to-neighborhood ferry-like service would cut down a
great deal of road traffic and would pose a lovely alternative for
locals and visitors alike to commute to work or explore all
accessible points of our wonderful city.
In terms of the expansion to the water transport, Menino aims to
influence the Massachusetts Bay Transportation Authority (MBTA, or
as many Bostonians call it “The T”) and other privately owned water
taxi or transport services. The ultimate goal is to place such
importance on transportation via the water that the personnel who
run this industry will expand their fleets and availability of
boats to the greater public. Some of the funding for this movement
will come from charging cruise ship passengers an additional $1-$2
charge in fees when the ships are in port here. Already, this year
on the 1st of January, 2011, Massport raised the charge for
passengers by close to 30 percent, from $11 to $14.
The final wish in this initiative is to create more jobs,
establish long-lasting economic benefits and development and
ultimately build world-class housing buildings that the
breathtaking East Boston
waterfront deserves. The Boston Redevelopment Authority has already
approved the development that Goldman Sachs proposed for the soon
to be tallest tower in the Fort Point Channel of 20 stories with
202 housing units and office spaces combined. This project, at 319
A Street, is a small portion all apart of the larger plan that
Menino has set out which would entail $582 million dollars being
invested to construct approximately 1,800 housing units. As a side
note, Menino also is pushing for investors to develop a casino at
the Suffolk Downs horse track in East Boston
while there are others such as Patriots owner Robert Kraft and
hotel and casino mogul Steve Wynn who are serious proponents for
opening one instead in Foxboro, Massachusetts.
To encourage other developers to keep a keen eye on the
progression East Boston is
making, the city will fund new roads and other necessary
infrastructure to lessen the costs to these private building
entities with the aim of enticing them to also invest in the area.
To go along with creating a new and hip residential district that
is bound to have stunning views, the mayor and East Boston locals
see this proposed future of their neighborhood as an early
Christmas present. This waterfront development is something that
will be-rid the feeling of the old industrial center into a vibrant
and exciting place that will attract everyone from technology
entrepreneurs to others seeking the high-end mix of business and
residential life.
As a whole, these developing projects are just furthering the
notion that Boston has been injected with a sense of optimism of
late. With immensely expensive plans on the table that are bound to
transform our different areas of the city for prolonged success
into the future, there really has to be something said for how
lucky we are to be living in or near Boston during this time!
Source: Curbed.com, Boston Globe