January 20, 2021
Hilco Redevelopment Allies as well as Redgate Capital Allies have actually obtained approval from the Boston Preparation and Growth Company to move on with a mixed-use redevelopment on the website of the former Edison Nuclear power plant in South Boston.
Initially created in 1898 at the corner of Summertime Street and East First Street, the former coal-fired power plant ran for greater than a century prior to being decommissioned in 2006. Hilco as well as Redgate acquired the website in 2016 and have taken on a durable multi-year area preparation and review process. The redevelopment will reuse four traditionally substantial turbine halls and produce about 1.68 million square feet of mixed-use growth located on 15.2 acres of land along the Reserved Channel. Strategies consist of almost six acres of open area throughout the site, consisting of a new 2.5-acre public park along the waterfront.
“This landmark notes a years-long area testimonial process, throughout which our prepare for the redevelopment were modified and also enhanced,” said Ralph Cox, principal at Redgate Capital.
“We are happy for the thoughtful feedback from South Boston residents, elected authorities, community supporters and also neighbors that have lengthy envisioned the potential of the vacant site,” added Ben Spera, companion at Hilco Redevelopment Partners.”
For remarks, inquiries or problems, please get in touch with David Cohen