Ground lease for residential and commuter parking facilities located at transit station.

Project Description: Arborpoint at Woodland Station is a “friendly 40b” (Massachusetts high density/affordable/ mixed housing project) transit oriented development incorporating 180 rental apartment units with 25% affordable units and a structured parking garage.

TRA’s Role:
• Identified the development opportunity
• Provided site use planning services and recommendations
• Obtained input from the City on the parameters of the development
• Wrote the public bid documents
• Coordinated the bid & selection process
• Negotiated the ground lease

Client Benefits: Prepayment of the $4.3 million ground lease payments allowed for the construction of a 548 unit parking garage, new entrance road and redesigned handicapped accessible station platform designed, managed and constructed by the private partner. The project’s operating agreement calls for shared maintenance costs of the entry road and landscaping, reducing the MBTA’s long-term maintenance obligations. The MBTA recaptured
some of its financial contributions through parking fees generated by the garage.

Status: A 70 year ground lease between National Development and the MBTA was signed in 2004. The MBTA parking garage and housing development are complete.