Media Kit » Try RailPrime™ Today! »
Progressive Railroading
RAILROADS
RAILROADS
TRENDING

JOB POSTINGS
PRODUCTS
EDUCATION & EVENTS
MAGAZINES
Progressive Railroading
Buyers' Guides
INFO
SEARCH
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.




railPrime
View Current Digital Issue »


News

Rail News Home Passenger Rail

2/24/2009



Rail News: Passenger Rail

MBTA leases portion of Riverside Station site to developer


advertisement
The Massachusetts Bay Transportation Authority (MBTA) board recently authorized an 85-year lease on a portion of the Green Line's Riverside Station complex in Newton to BN Normandy Riverside L.L.C.

The firm plans to develop a mixed-use complex featuring 420,000 square feet of office space, 60,000 square feet of retail space and 190 residential units.

Annual rent for the leased premises will begin at $850,000 annually and increase 12.5 percent every five years. The agreement will increase MBTA's cash flow by $217 million over the course of the lease, the agency said.