Meredith Management
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Fenway Center Update

After more than ten years of community planning and the City and State permit and approval process, Yawkey Station was completed in March 2014 by Meredith. The first phase of the Fenway Center mixed use, transit and sustainable energy oriented development project should finally be underway in 2015.

Development of the 4.5 acre Fenway Center site includes three very distinct but integrated public and privately financed projects. Two of the projects are stand alone State funded transit improvement initiatives funded by the Legislature in a 2006 Economic Stimulus bill.

cornerThe first State funded project is the $14.9 million major renovation of the MBTA Yawkey Commuter Rail Station which is now complete. Yawkey Station includes 2 full length fully accessible platforms from Brookline Avenue to Beacon Street allowing as many as 40 commuter trains between Worcester and South Station to stop each day. Previously only 17 trains stopped daily because there was only one short platform on the eastbound track, severely limiting service over the past 23 years since the Station opened. Yawkey Station is the closest commuter rail stop to the thriving Longwood Medical Area and Fenway Park, the number one economic engine and tourist attraction in the Commonwealth. Increased service on this crucial commuter train line greatly improves public transit for the hundreds of thousands of employees, patients, students and visitors who frequent the LMA every day as well as Red Sox fans visiting Fenway Park.

The second State funded project includes roadway improvements which will provide public access to Yawkey Station via the new Yawkey Way Extension from Brookline Avenue. The roadway improvements will also connect Overland and Maitland Streets, two existing City streets that are currently separated by private land. This new Overland / Maitland Street connection will allow for dramatically improved pedestrian, bicycle and vehicular access between Brookline Avenue and Beacon Street and will relieve traffic in Kenmore Square. Without these new State funded roadway improvements, expected to be completed by the end of 2014, Yawkey Station would continue to operate WITHOUT legal public access, as it has for more than two decades. Consequently, these major new public funded transit and infrastructure improvements are being coordinated by MassDOT, MBTA and the City of Boston and are entirely separate from the privately funded Fenway Center project.

MK Parcel 7 Development LLC is the developer of the fully approved 1.3 million square foot Fenway Center mixed use project. MK is currently negotiating a joint venture agreement with a large national real estate development firm which will provide the balance of private equity and debt necessary to complete financing and commence construction. Fenway Center will likely be built in two phases. The first phase is expected to begin construction in mid 2015 and will include Buildings 1,2, 4 (see Site Plan) and two parking facilities. Phase 1 will total 416 residential units in the three buildings, 50,000 square feet of retail space, and up to 1,290 approved parking spaces in the two garages. The final phase will include the signature 27 story mixed use residential and Class A office building and ground floor retail.

In total, Fenway Center will create more than 1,800 construction jobs, hundreds of permanent jobs, hundreds of millions in real estate tax revenue to the City of Boston and several hundred million in lease payments to the Commonwealth of Massachusetts.

Fenway Center and the Yawkey Station and access road infrastructure projects are the culmination of a unique collaborative team effort by local residents and businesses, neighborhood groups, Governor Patrick, the Massachusetts Legislature, MassDOT and MBTA, the Executive Office of Housing and Economic Development, Mayor Walsh, City Councilors, legislators, Boston Redevelopment Authority, Boston Transportation Department, Boston Public Works and Water and Sewer departments, MASCO and Longwood Medical Area institutions and the Boston Red Sox.

We look forward to breaking ground on Fenway Center Phase 1 next year and we’re very proud to have successfully developed Yawkey Station on time and on budget for the MBTA. Thanks to more than two decades of hard work and planning by the MBTA, City of Boston and neighborhood stakeholders, MASCO and the Boston Red Sox, Yawkey Station is now full service multi-modal commuter rail hub with new public access!

Please contact us if you have any questions and we look forward to continuing to work closely with all our friends in the community as we improve and create an even more special neighborhood in the Kenmore, Fenway and Audobon Circle areas.

Best regards and thank you for all your support over the years.

John