New Bedford, MA – MassDevelopment announced it has recommended Taber’s Wharf Partners for the redevelopment of New Bedford State Pier, and both parties have entered into a Provisional Designated Developer Agreement. This recommendation follows a competitive process that included the release of a Request for Proposals (RFP) in April developed in collaboration with the City of New Bedford. Taber’s Wharf Partners includes Buyers and Sellers Exchange (BASE), Raw Seafoods, Servedwell, Crowley Wind Services, and Coast Line Transfers.
Taber’s Wharf Partners proposed a redevelopment of the property to include seafood auction and processing, street-side retail and restaurants, support of off-shore wind, and continuing support of current uses where feasible. The Taber’s Wharf Partners proposal was identified as the most advantageous to the property and state and local objectives.
The Taber’s Wharf Partners proposal envisions New Bedford State Pier showcasing the present and future of the Port of New Bedford. Since the State Pier is at the heart of one of the most dynamic working waterfronts in the region, and at the foot of the major east-west corridor in New Bedford that connects the historic downtown with the heart of the waterfront, the proposal will work to reinvest in the facility. This includes developing the marine industrial aspects of the pier in a way that ties the site to the city it serves in a safe, thoughtful, and genuine way by using the more than eight acres to grow marine industrial activities on the pier including ferry, terminal operations, commercial fishing, light commercial, and dining. The proposal also strives to create a space that is inviting to visitors to the ferry operations, Schooner Ernestina-Morrissey, and the National Historical Park.
The Provisional Designated Developer Agreement activates a process that requires the parties to further identify over the following 180 days a detailed development plan through a due diligence process that will engage the current and potential users of the property to define the preliminary design (plans, elevations, parking and traffic studies), proposed agreement structures, development pro-formas backed by financials and professional cost estimates, detailed sources and uses, and any phasing of the development.
“MassDevelopment sees this as a crucial step toward the vision that New Bedford stakeholders have been working towards since 1980,” said MassDevelopment president and CEO, Dan Rivera. “We have had the honor to be stewards of the State Pier and have worked hard to bring tenants under agreements and make capital improvements integral to the pier’s safety and success. We’re proud to take this next step forward and work with Taber’s Wharf Partners on the future redevelopment of this incredible property.”