UMass has agreed to enter into a long-term lease agreement with a private development team to build out and monetize the Bayside site. It’s a good call.
Here are some key facts to consider while weighing the ramifications of this development:
• In 2006/2007, the former owner of the Bayside site — Corcoran Jennison Co.—was on the verge of transforming the 20 acres of land from its use as an underperforming exposition center into a new, mixed-use community on a budget of $1 billion. That plan was upended when the recession hit and the property went into foreclosure. UMass deftly swept in and bought the site for $18.7 million.
• Over the years, UMass entertained two other potential paths for the site in recent years. In 2014, it was included as a lynchpin of the Boston 2024 pitch for the Olympic Summer Games. It would have anchored the Athletes Village in that scenario, which was, of course, abandoned.
• Bayside then became the object of Robert Kraft’s keen interest as his sports empire scoped it out— in concert with UMass President Marty Meehan’s office— as a potential home for his NE Revolution soccer franchise. There was no open bidding process for that use, just a series of old-boy-network negotiations without any public input. The “deal”— which was not disclosed until after talks between the parties broke down— was thin on details about how much UMass might realize in fees or benefits.
• Amid a barrage of criticism about the Kraft talks, UMass changed course and announced plans to seek interest from the wider development community. Sixteen parties responded to the Request for Interest that was prepared in the summer of 2017. That process led to the next phase, which ended last week: the selection of a preferred developer to either buy or lease the site.
• The winning bid from Accordia Partners will be worth up to $235 million for UMass, much of it directed to the Dorchester campus. And, by giving UMass the right of first refusal to lease back some of the space for its own future use, the deal ensures that UMass Boston will have room for further growth. In the meantime, the money realized from the arrangement will help the cash-strapped campus pay for fixes to its main campus which— without the deal—would have required an even bigger debt burden and, quite likely, long delays and more program cuts.
We have not always agreed with President Meehan and his team on their approach to Bayside. But he and his board and, in particular, the Bayside committee led by UMass Building Authority chairman Victor Woodridge, deserve credit for bearing down on this issue and delivering.
One element of the deal that still needs more discussion – and, hopefully, more partners – is the infrastructure around the Bayside site. In last week’s presentation to the UMass trustees, Accordia committed $25 million to help pay for improvements. That’s a great start. But it will take much more to make the necessary fixes to Koscziusko Circle, Morrissey Boulevard, and JFK-UMass station.
Of course, one development team can only be asked to do so much. It’s time for a consortium of private interest stakeholders to come together to help leverage an even bigger public commitment to unlock the full potential of this section of the city.
Together, these groups can pool resources and lobby for a more coordinated and well-funded state investment into smart improvements to our road, rail, cycle, and pedestrian system in Columbia Point.
With up to three million square feet of new development space set to come on line in the coming years just at the Bayside site, it’s incumbent upon city, state, and private interests to join forces now— as the Bayside planning begins in earnest in the coming months— to get the transportation piece lined up, financed, and executed.
– Bill Forry
