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PRESS RELEASE
Cambridge Awaits $2+ Million in Project Funding
Congressman Capuano, Senators Kennedy and Kerry Secure Millions for Important Cambridge Projects
November 23, 2004
Congressman Mike Capuano, Senator Edward Kennedy and Senator John Kerry have secured over $2 million in funding for important Cambridge projects. The funds were included in the FY 05 Omnibus Appropriations Bill that is awaiting the signature of the President.
$1 million was earmarked for Lechmere Station Relocation and Enhancements. The funding will be used for public transportation improvements at the Lechmere MBTA Station. These improvements are critical to the success of the $100 million Northpoint development, which aims to establish a major biotechnology campus, nearly 2,500 housing units, and 5.5 acres of green space on a currently underutilized property abutting the Monsignor O'Brien Expressway. Upon completion, it is estimated that this development will generate between $17-20 million in property tax revenues annually for the cities of Cambridge, Boston, and Somerville.
An additional $1.05 million was earmarked for Kendall Square Streetscape Improvements and Urban Redevelopment. The funds will be used by the Cambridge Redevelopment Authority to advance a project that seeks to transform some underutilized sections of Kendall Square. It will also permit the construction of new parks and urban trails.
"These funds will be used to help generate improvements to the City of Cambridge's transportation infrastructure and open space. I thank Senators Kennedy and Kerry for their assistance in securing this revenue," stated Congressman Mike Capuano, whose district includes Cambridge.
"The Kendall Square and Northpoint redevelopments are bold proposals that can help forge a stronger future for all Cambridge," Senator Kennedy said. "Through these investments, we can bring new jobs to the city, create parks, improve public transportation, and help alleviate the housing crunch confronting so many of our families. We'll keep at it in the years ahead."
"These projects devote over $2 million that will directly benefit the people of Cambridge by improving Lechmere Station and enhancing Kendall Square," said Senator Kerry. "I am honored to have worked with Senator Kennedy and Congressman Capuano to help bring these important projects home," stated Senator Kerry.
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Contact: Alison M. Mills (Capuano) (617) 621-6208
Contact: David Smith (Kennedy) (202) 224-2633
Contact: April Boyd (Kerry) (202) 224-4159
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