Boston – The Boston Planning & Development Agency (BPDA) Board of Directors approved a total of nine development projects representing $1.6 billion in investments at the May board meeting. Altogether, the projects will generate 1,171 residential units and 2,306 jobs once construction is complete.
The board approved the 115 Winthrop Square project, paving the way for a $163 million payment to the city of Boston that will be invested in affordable housing and open space.
Mayor Martin J. Walsh has committed funds to the Boston Common ($28 million), Franklin Park ($28 million), the Emerald Necklace ($11 million), Boston Housing Authority’s Old Colony development in South Boston ($25 million), Orient Heights development in East Boston ($10 million), and $5 million for a city-held fund to benefit the Rose Kennedy Greenway.
The project is expected to generate over $15 million a year in property tax revenue and make significant investments in affordable housing and workforce training programs.
Development projects also include 1550 Soldiers Field Road and 21 Soldiers Field Place, 70 Leo M. Birmingham Parkway, 55 West Fifth Street, East Boston’s 152 Liverpool Street, 287 Maverick Street, 40 Rugg Road, Massport Marine Terminal Parcel 6, and the Herb Chambers Jaguar Range Rover Dealership.