A NEW ‘FRONT DOOR’
UMass Boston hopes for deal that would transform campus
Almost a year after cashing in on a valuable slice of land on its waterfront campus in Dorchester, UMass Boston has signaled it might be ready to sell off more, asking developers in a filing earlier this month for their redevelopment ideas.
The request asks private developers to submit proposals for a mixed-use development on 10 acres of land on Columbia Point that includes the historic Calf Pasture Pumping Station building.
University officials are calling it a “first step” in generating ideas for the restoration of the derelict pumping station building and the surrounding property.
“This has been a goal of the university for many years. We believe there is an exciting opportunity to create a public-private partnership that can establish a front door for the university, create quality spaces for admissions activity and events, and at the same time address the environmental issues and deterioration of a historic building while enhancing the campus experience,” John T. Hoey said in a statement.
The land falls inside a federal economic opportunity zone — something the university’s request underscores, and provides an incentive for developers because it comes with tax breaks.
The request spells out the intention of entering into a 99-year-lease with a private developer and floats a few ideas for development that “supports academic and research endeavors,” and would serve as a new “front door” to the UMass Boston campus.
While the restored Calf Pasture Pumping Station would be retained for the sole use of the university, the college envisions a mixeduse development that could include a new admissions center, a theater, a restaurant or two, a boutique hotel, a coffee shop or pub, shops and a grocery store.
The request downplays housing, but leaves open the door for a retirement community — something City Councilor-at large Michelle Wu said is sorely needed in Boston.
“We hear about the need for more senior housing across the board as our population of seniors increases,” Wu said, noting many seniors are getting “priced out” of Boston.
The deal is bound to garner a lot of interest. When the college announced it was seeking to redevelop the 20-acre Bayside Exposition property it kicked off an 18month process and garnered interest from more than 100 developers.
UMass signed a 99-year lease in July with Accordia Partners that could earn the cash-strapped university $235 million over the lifetime of the deal, with $192 million guaranteed.
Accordia plans to build a mixed-use urban innovation campus and has also promised a $25 million investment in infrastructure improvements at UMass Boston, though it still needs approvals from the city.
Unlike the Bayside deal, which was cut with the express purpose of cutting down a deficit the institution was trying to pay down, a spokesman denied the latest plan was financially motivated.
“We’ve talked about this for long, long time,” Hoey told the Herald. “The core reason for this is to create the best possible experience for students.”