tangent
Senior Member
- Joined
- May 11, 2012
- Messages
- 1,789
- Reaction score
- 68
Re: Wynn Everett Casino | Everett
It is a simple calculation... spend $60 million dollars in bond financed state money to jump start/boot strap redevelopment in Sullivan Square using proximity to Wynn, 93 and the Orange line to provide the demand and opportunity to pay for the project with parking and lease revenue and you get a mixed use project going there in less than ten years that could help anchor the redevelopment of the privately owned abutting parcels and keep more cars off of city streets.
The alternative is that the first major redevelopment that you will get is a hotel with parking garage on a private parcel further away from the highway and further away from Sullivan Square station and you get spot redevelopments on private parcels that will include garages out of necessity.
If you offload the cost and necessity of the parking garage and put it in one central location (and next to the highway rather than along the waterfront) then you can get more private investment going into redevelopments of abutting parcels that can then have less on-site parking.
It is a simple calculation... spend $60 million dollars in bond financed state money to jump start/boot strap redevelopment in Sullivan Square using proximity to Wynn, 93 and the Orange line to provide the demand and opportunity to pay for the project with parking and lease revenue and you get a mixed use project going there in less than ten years that could help anchor the redevelopment of the privately owned abutting parcels and keep more cars off of city streets.
The alternative is that the first major redevelopment that you will get is a hotel with parking garage on a private parcel further away from the highway and further away from Sullivan Square station and you get spot redevelopments on private parcels that will include garages out of necessity.
If you offload the cost and necessity of the parking garage and put it in one central location (and next to the highway rather than along the waterfront) then you can get more private investment going into redevelopments of abutting parcels that can then have less on-site parking.