Image courtesy of Studio TROIKA
Attempts to reactivate Charlestown’s Pier 5 resumed with the choice of a local nonprofit that sponsors sailing and enrichment programs for 1,000 youths annually as developer.
Courageous Sailing Center for Youth is proposing to rebuild the pier to support a new $73 million educational and community center and “amphibious park” designed with resiliency measures to withstand rising sea levels. A 29,500 square-foot building on the rebuilt pier would include classrooms for marine science programs, a theater and a Great Hall for meetings and events.
The nonprofit has begun a fundraising campaign with the goal of raising $20 million in donations in the next year, which could include naming rights for the former World War II-era ship repair jetty.
The Boston Planning & Development Agency board approved a tentative developer designation to Courageous Sailing following a presentation at Thursday’s meeting.
“It’s ambitious,” board member Ted Landsmark said. “It’s innovative. It meets a lot of needs.”
The project also includes a salt water harbor pool, floating deck and 10,000 square-foot learning lagoon. Groups including Tufts University’s biology department and Stone Living Lab have shown interest in sponsoring programs at the development, according to letters submitted in support of the proposal.
Events and public sources would provide a key source of revenue, according to a pro forma by events manager ASM Global.
“We are anticipating a certain amount of revenue from events to help make ongoing maintenance and operations sustainable,” Courageous Sailing Executive Director Dave DiLorenzo said.
The project also would require nearly $23 million in public funding, Courageous Sailing estimates.
The project also faces a lengthy local, state and federal permitting process. Construction would begin in 2030, according to a permitting timeline submitted by the team.
Bill Gause, a former executive at Leggat McCall Partners, Leggat McCall Senior Vice President Dan Boyd and consultant Drew Leff of Leff Development are advising the team on its real estate strategy. KeyBanc Capital Markets Financial is providing financial advisory services.
Boston-based Studio TROIKA leads the design team, and DREAM Collaborative is providing urban planning services.
DiLorenzo said the organization’s existing home base at Pier 4 in Charlestown is inadequate, requiring a long waiting list for programs.
One other proposal was received from Charlestown Marina, which proposed replacing the pier as an extension of its adjacent property.
The existing concrete wharf was built in 1943 and has been closed to the public for years due to structural deterioration. The BPDA has offered the chosen developer $8 million toward demolition costs, which are estimated at up to $33 million.
Previous attempts to redevelop the pier received opposition from some residents of the Flagship Wharf condominiums.
In 2021, the BPDA rejected all three proposals for housing replacing the pier, including two proposals for floating houses, amid neighborhood opposition and questions about financing and regulatory approvals.
