Crafting a solution to help cover the cost of upgrades to MassDOT
Thirty-five to forty million dollars. That was the price tag for upgrades to make Boston’s Hynes Convention Center Station more accessible for light-rail transit riders. The Massachusetts Department of Transportation (MassDOT) called on our team to craft a developer solicitation that would net funds to help cover the cost of the project. They also asked us conduct a formal risk analysis process.
With a strong real estate market and air rights parcels across Boylston street about to be developed, ground lease payments were the natural choice for funding. We created a strategy that generated more than $30-million in prepaid ground lease payments from the air rights developer. The solicitation also required the developer, for no additional compensation, to act as project manager for the combined station improvement and air rights development project to ensure the projects were completed on time.
We also prepared the solicitation, analyzed the submission, and assisted MassDOT throughout the solicitation process and development agreement negotiation.
Drew Leff, Principal
Having worked as a developer, and for government, I can bridge public and private interests to achieve consensus around development plans.
We're better together
-
Become a client
Partner with us today to change how tomorrow looks. You’re exactly what’s needed to help us make it happen in your community.
Contact Us -
Design your career
Work with passionate people who are experts in their field. Our teams love what they do and are driven by how their work makes an impact on the communities they serve.
Join the Team