MassDevelopment directors have approved $30 million in I-Cubed funding for infrastructure related to the $854 million Hub on Causeway development at Boston’s TD Garden.

The bond issue will subsidize a total of $54.8 million in upgrades to North Station and Causeway Street, including a new entrance to the TD Garden, a 550-space garage expansion, sidewalks and new traffic signals.

Boston Properties and TD Garden owners Delaware North Cos. are partnering on the 1.9-million-square-foot mixed-use development on former surface parking next to the arena. The project will include office space, a 400-unit apartment tower, 250-room hotel, ArcLight Cinema, Star Market, 2,500-capacity concert hall and 30,000-square-foot food hall and sports bar.

The supermarket and concert hall are scheduled to open in June 2019, with the rest of the retail and restaurant space to follow in August.

Online security firm Rapid7 leased the office podium building under construction on the eastern side of the property in November 2017. Verizon has leased a majority of a planned office tower for a relocation and expansion of its East Coast Innovation Center, currently located in Waltham.

Developers estimate the first phase of construction, which includes the garage expansion and podium construction, at $341 million, and the second phase, including the hotel, apartment and office towers, at $506 million, according to documents submitted by MassDevelopment. The project is expected to generate more than $9 million in annual state tax revenues by 2024.

Established in 2006, the I-Cubed (Infrastructure Investment Incentive) program supports large real estate developments that have public infrastructure requirements from $5 million to $50 million.

The Hub on Causeway Gets $30M for North Station Upgrades

by Steve Adams time to read: 1 min
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