Assembly Square to see mega-development in near future
by | | Boston real estate developments and projects
About 75 years ago, the Assembly Square mall closed down. Subsequently, developers announced plans to redevelop the area, plans voraciously opposed by "neighbors" (neighbors in the sense that they were about 1/2 a mile away, on the opposite side of a six-lane highway).
Finally, all differences were resolved.
The Environmental Notification Form has been issued by the state giving its okay to the developer's plans.
Eventually, there will be as much as 5.4 million square feet of new development.
Included in the plan are 2,100 1,200 residential units, 1.75 1.5 million square feet of office space, and 852,000 square feet of retail space.
There will be a four-story Ikea as well as a new restaurant, a new cinema, and a 200-room hotel.
There will be a new Orange Line subway station; Ikea will make a $15 million $5 million investment in the station (with the developer putting up $10 million).
That's some development!
Source: Mass. Environmental Notification Form (.pdf)
*** An executive with Federal Realty, the developer, called me to correct some of the above. Addendum noted.
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