Somerville officials have reached an agreement with a Chicago company that will take the lead in the 2.3-million-square-foot redevelopment of Union Square and Boynton Yards.
Beginning next week, developer US2 will begin a community planning process including workshops and design charettes that will be used to shape development covering a seven-block area. The first community meeting will be held at 6:30 p.m. on Dec. 17 at 237 Washington St., the former post office building.
"I am glad that the Somerville Redevelopment Authority and US2 have come to an agreement that requires a community-driven planning process, the negotiation of community benefit agreements, and keeps us on schedule to coordinate development with the opening of the Green Line station," Mayor Joseph Curtatone said in a statement.
In June, the Somerville redevelopment authority chose US2 over three other finalists as master developer for the project covering 15 acres in the city’s oldest commercial district. US2 is a partnership between Magellan Development Group and Mesirow Financial of Chicago.
Somerville hopes to attract corporate tenants and start-ups to fill new office and lab buildings and generate thousands of new jobs as the MBTA Green Line Extension upgrades mass transit service to the neighborhoods. The master plan also calls for multifamily housing, retail and community space.
The master development agreement finalized this week lays out timelines for the project and requirements for a community benefits agreement. The first area to be studied will be properties surrounding the planned Green Line station, which is scheduled to open in December 2017.
US2 will be required to pay $447,225 to cover costs of the neighborhood planning process, outside legal services and consultants.
The result of the community planning process will be a detailed plan outlining what types of projects would be built and where, resulting in a land disposition agreement with the city. The city has the option of acquiring the properties through eminent domain if private negotiations between the developers and land owners fail.
The community benefits agreement would cover areas such as affordable housing requirements, hiring of local residents, sustainability and public amenities.
