A windfall on Ocean Avenue – Project receives a $20 million boost

February 25, 2010
By

Governor Deval Patrick dropped another $20 million on the table for the Ocean Avenue development last week.

The public announcement was made on the stairs on the ocean side of Wonderland Station by the governor. He was accompanied by Congressman Edward Markey, Mayor Thomas Ambrosino State Senator Anthony Petruccelli and Revere City Councillors Anthony Zambuto and Arthur Guinasso.

“We’re very grateful to the governor, to our state delegation and to Congresssman Markey for acquiring this grant. It brings this project one step closer to reality,” Mayor Ambrosino commented.

He praised the governor and Markey for working hard and long to make the grant a reality.

The $20 million the governor brought will be used to construct the platform on the eastern – or water side of the ‘T’ Wonderland Station.

It is intended to be the public plaza that will allow people to cross from the station to Ocean Avenue.

The public plaza is central to everything that will grow out of it. The expected development project will ultimately total well over 1 million feet of commercial and residential space.

In fact the platform about to be built will hold two commercial structures, according to Joseph DiGangi, the head of Eurovest, developers of the Ocean Street project.

“It will house a hotel and a commercial building,” DiGangi told officials gathered around a map of the project he was holding.

The $20 million grant was taken from Stimulus Funds sent from Washington be used in Massachusetts.

The governor’s trip here was the second in about three weeks.

Last month, he came to Wonderland Station to announce that the state was funding the remaining many millions needed to construct the parking garage at Wonderland – a $22 million tab in all.

Both Markey and Patrick made short remarks praising the city government, the state and the federal government for working together on this development.

Zambuto and Guinasso shared nice words for the governor and Market.

“This what private-public partnerships are all about,” Zambuto said.

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