"This is an exciting project not only for Massport, but for the entire port community," said Craig P. Coy, Massport CEO. "In the Port of Boston, the demand for the type of cargo operations that Marine Terminal Development proposes is tremendous. This team brings history and experience and recognizes the importance of the maritime industry in Boston. This project will attract new business to the port and will round-out the cargo handling services already in place."
The MMT is located in South Boston's Marine Industrial Development Park between the Fish Pier and the former South Boston Army Base. It is owned by the Economic Development and Industrial Corporation of Boston (EDIC) and is leased to Massport through 2070.
"The Boston Redevelopment Authority (BRA) has a history of working with the folks on the Marine Terminal Development team," said Mark Maloney, Director of the BRA which oversees Boston's Marine Industrial Park. "We're confident that their project will enhance overall port operations by developing intermodal support facilities."
The Marine Terminal Development Proposal involves development of a state-of-the art logistics and bulk/break facility on approximately 30-acres at the MMT. Three warehouse buildings totaling 470,400 square feet will be constructed to house companies involved in freight forwarding, logistics, supply chain management, seafood processing and cold storage. Another 6.3 acres behind the North Jetty dock will be used to import, store and distribute waterborne bulk commodities such as cement salt and forest products.
In Boston, cargo volumes have risen sharply over the last few years. Those increases are expected to continue. Overall projections indicate that the number of containers at US Ports will double by the year 2020. As cargo volumes rise, so too does the demand for support services such as warehousing, storage and transloading centers. Because of its large size, undeveloped condition and excellent waterside and landside transportation access, including the potential for on-dock rail service, the MMT represents one of the most valuable maritime industrial development opportunities in Boston.
To meet demand, other infrastructure improvements in the Port of Boston are underway. Massport recently began an 18- month, $25 million capacity enhancement program at Conley Terminal. Under the plan, the cargo handling capacity at Conley Terminal will increase by 50%. The construction project involves realigning the yard to optimize efficiencies, the purchase of eight new rubber tire gantry cranes, repaving to allow for greater container stacking and repositioning the chassis pool and maintenance and repair functions to a nearby site.
The Marine Terminal Development team includes Cargo Ventures LLC, Boston Freight Terminals, New England Development and the Fallon Company.
"The Massport Marine Terminal offers a unique opportunity to address needs of the maritime transportation community in the Port of Boston that have gone un-met for many years," said Jacob Citrin, President of Marine Terminal Development LLC. "The entire MTD team is excited by the opportunity this project creates and we are grateful of the hard work and professionalism of many individuals at Massport who have helped bring this project to fruition."
