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Yesterday, the Massachusetts Bay Transportation Authority (MBTA) began construction on the Wonderland Station parking garage as part of the city of Revere’s Waterfront Square transit-oriented development (TOD) project.

The $47 million, seven-story parking facility with 1,465 spaces is being funded through a combination of American Recovery and Reinvestment Act funds and MBTA bond revenue financing, authority officials said in a prepared statement.

The Waterfront Square development is a planned mixed-use community of 902 residential units, 145,500 square feet of office space, a 100-room hotel and 28,000 square feet of retail space.