BRA taps Somerville economic development chief as new real estate head
Dec 7, 2015, 10:31am EST
Breaking News
Catherine Carlock
Real Estate Editor
Boston Business Journal
BIZSPACE SPOTLIGHT
The Boston Redevelopment Authority has named Edward O’Donnell, formerly Somerville’s director of economic development, as its director of real estate.
The hire was among the first steps highlighted in the BRA’s action plan, which created this summer to tackle immediate concerns outlined in a damning analysis from management consulting firm McKinsey & Co....
A West Roxbury native, O’Donnell previously spent eight years with the BRA from 1990 to 1998 as deputy director for commercial and residential development. He has also worked in real estate development for Modern Continental Enterprises, The Mayo Group and Waypoint Construction Consultants.
“My approach to the job is grounded in the fact that the real estate holdings of the BRA are assets, and they need to be managed productively, whether to provide new employment opportunities, new housing, or other uses,” O’Donnell said in a prepared statement. “Our goal is to ensure that these assets reach their full potential, and I look forward to leading and contributing to this work with the team.”
As the head of real estate at the BRA, O’Donnell will oversee the disposition, sale and leasing of more than 16 million square feet of BRA-owned property. The McKinsey study said that the BRA’s asset portfolio wasn’t configured to maximize development potential, and untapped lease opportunities on that property could generate up to $8 million in new revenue for the authority.
