Friday, August 10, 2012
Massive Boston cargo terminal a go
South Boston is resuming the development of a huge cargo terminal after a five-year delay. The terminal complex will be built on 30-acres of city-owned seaport district land that's under long-term lease to the Massachusetts Port Authority.
Developer Cargo Ventures of Doral, Fla., downsized the project to make it fiscally viable, dropping about 50,000 square feet from the three-building complex.
The $130 million project, which includes a mix of seafood processors, cold-storage facilities, warehouses, and a bulk cargo handling facility at the North Jetty, received approval from the Boston Redevelopment Authority in September 2007, but has been waiting out the recession.
The BRA voted on the new downsized proposal Thursday. Cargo Ventures is ready to start construction this year, according to a March filing by his lawyer.
"It's exciting that this project is moving forward," said Vivien Li, president of the Boston Harbor Association. "It complements very well the Innovation District because this space will be for industrial activities."
For more of the Boston Herald story: news.bostonherald.com
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