Nate Boroyan | City News 

Chicago-based Magellan Development Group and partner Mesirow Financial will handle the $1 billion redevelopment of Union Square in Somerville.

The Boston Business Journal reports the Somerville Redevelopment Authority selected US2 ( a.k.a. Magellan Development and Mesirow Financial) over heavy-hitters Gerding Edlen (315 on A), Federal Realty Trust (Assembly Row) and the Abbey Group (45 Province).

Magellan Development Group will manage the entire 12-acre Union Square Revitalization Plan “and will have authority to take property by eminent domain,” the BBJ reports. The total scope of the project is 2.3 million square feet of new development along seven blocks. Read more