SRA – Union Square Redevelopment – Massachusetts - Project Profile
"SRA – Union Square Redevelopment – Massachusetts - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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The Somerville Redevelopment Authority (SRA) is planning to revitalize various blocks in Somerville, Massachusetts, the US.
The project involves the redevelopment of seven mixed-use blocks over 213,677m2 area on 5ha of land. It will be developed in phases.
It includes the construction of 2,300 residential units, retail facilities, 120,774m2 office and civic spaces, 1ha of land for public and open spaces, parking and related facilities.
In December 2013, SRA has issued request for qualifications (RFQ) to select a master developer for a mixed-use project in Union Square.
In June 2014, Union Square Station Associates (US2) a consortium formed by Magellan Development Group and the partner Mesirow Financial has been selected as the master developer over three finalists Gerding Edlen (315 on A), Federal Realty Trust (Assembly Row) and the Abbey Group (45 Province).
As of May 2016, planning board has approved a neighborhood plan for Union Square.
In June 2017, SRA secured rezoning approval from Somerville Board of Aldermen.
In December 2017, SRA received approval from the Somerville Planning Board.
SRA is planning to commence the design review of the project.
Subject to approval, construction is expected to commence in 2018.
The project involves the redevelopment of seven mixed-use blocks over 213,677m2 area on 5ha of land at Union Square in Somerville, Massachusetts, the US.
The US$1,000 million project includes the following:
1. Construction of 2,300 residential units
2. Construction of retail facilities
3. Construction of 120,774m2 office and civic spaces
4. Construction of parking and related facilitiesReasons To Buy