The Massachusetts Turnpike Authority’s final board meeting came and went today without a decision on a prominent downtown Boston development parcel, drawing fire from city and union officials.
The Turnpike board had been expected to designate a developer for Parcel 9, a small but strategically located parcel situated between Quincy Market and the Rose Kennedy Greenway. The parcel has been the subject of an intense tug-of-war between Eastat Realty Capital, a Boston firm pitching housing for the site, and the Boston Museum, a nonprofit led by veteran Boston developer Frank Keefe.
The Turnpike’s final meeting saw board members recite poetry, reflect on the agency’s divisive history and strive to define their individual political legacies. However, the board punted on the parcel’s development future. City officials have been awaiting a decision on the parcel since the summer.
"We understood the board would be taking a vote today," Boston Redevelopment Authority director John Palmieri told Banker & Tradesman. "I’m surprised they failed to act."
"It’s a project we’re ready to move on," added Paul Barrett, regional marketing director of the AFL-CIO Housing Investment Trust. The union fund has already committed financing to Eastat’s proposal. "We have the funds ready and waiting to invest. We have to put them to work. We are anxious to put our money to work. The project is as-of-right, so it can be in the ground next spring or summer."
A new super-agency will replace the Massachusetts Turnpike Authority and MassHighway Nov. 1. It will be led by the Turnpike’s current executive director, Jeffrey Mullan. Outgoing state transportation secretary James Aloisi said he expects the new super-agency will take up Parcel 9’s future "promptly."
"It’s my additional expectation that the board will select the proposal that best meets city zoning, and is demonstrative that it will be able to be financed," Aloisi added.
Eastat’s $45 million proposal is the only one that meets both of Aloisi’s criteria. The $120 million museum, if selected, would have a long capital campaign ahead of it.
The BRA has envisioned Parcel 9 and a neighboring Turnpike property, the Parcel 7 garage, serving as the lynchpins of a new year-round market district. Those plans suffered a blow last month, when the Turnpike declined to accept any bids for the long-vacant Parcel 7 garage.
Sources close to the development speculated recently the garage bids had been scrapped as a way to speed development at Parcel 9.
"Maybe they need more time?" Palmieri wondered. "We’re prepared to work with the new board to make sure the project can advance." He paused, then added, "I thought they’d be making a decision."
