The tag for the 1.5 million-square-foot, 14-acre New Brighton Landing off Guest Street has gone from an estimated $250 million to $500 million, according to new information from the developer, shoemaker New Balance.
Not that anyone's complaining. Privately held New Balance has simply taken the opportunity to reiterate what it says are the community and infrastructure benefits of its massive new digs, which replace some low-slung warehouses and parking lots; and which are set to include a new corporate HQ on Guest Street; a sports complex with a track and NHL-regulation hockey rink; a 175-room hotel; up to three office buildings; 1,750 parking spaces; and shops and restaurants. As for the city, which still has to sign off on it (formal public review begins June 6), they're stoked for the potential for $12.5 million in annual property taxes and $10.5 million for affordable housing. Heck, there might even be a new commuter rail station!
All things working out now, construction would start next spring; and everything would be wrapped by 2017.
· New Balance’s Big Brighton Project Will Cost $500M [Herald]
· The Big Details on Brighton's Big New Balance Project [Curbed Boston]