1. Channel Center Project - Community Benefits Summary (December 2010)1
Commitment Status
Construct and maintain three new public open spaces:
1. Space between 229 A Street and 241 A Street (Mt. 1. Reconstructed in 2010.
Washington Way).
2. Space adjacent to building at 241 A Street (Binford Green). 2. Reconstructed in 2010.
3. Parking lot south of 191 A Street (now known as 10 Channel 3. Associated with later phase of
Center). Channel Center Project (1+2
Channel Center).
Sell Midway Street Component buildings for development of Completed
artists’ live/work space by Fort Point Cultural Coalition
Construct and maintain new private ways:
1. Channel Center Street. 1. Complete.
2. Mt. Washington Way. 2. Reconstructed in 2010;
3. Medallion Avenue (portion owned by adjacent Channel December 2010 construction
Center owners). completion planned.
4. Iron Street. 3. Complete.
4. Interim condition in place;
interim construction to be
completed with construction of
5 Channel Center; final
completion with construction
of 1+ 2 Channel Center.
$1,200,000 community impact fund contribution:
To be paid on a pro-rata basis based on the ratio of the
floor area for each phase or sub phase of the project to the
total permitted square footage for the Channel Center
Project.
Disbursements to be overseen by the BRA.
1. 15 Channel Center, 25 Channel Center and 35 Channel 1. $331,973.42 paid in March
Center (428,799 sq ft built). 2007.
2. 10/20 Channel Center (247,364 sq ft built). 2. $191,507.61 payment due from
completion of 10/20 Channel
Center was deferred pursuant
to First Amendment to
Cooperation Agreement; used
to pay for 5 (now known as
7-9) Channel Center pre-
development costs.
3. 40 Channel Center, f/k/a 241 A Street (26,400 sq ft built). 3. Responsibility of owner of 40
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See Cooperation Agreement, as amended, Transportation Access Plan Agreement, as amended, and Development Impact
Project Agreement.

2. CC.
Housing linkage payments:
Approximately $4,966,572.42 owed (is based upon final
total gross floor area of space built).
First 100,000 sq ft of Development Impact Project (DIP)
Uses are excluded and do not count towards the obligation
(DIP uses do not include residential uses).
Beacon Capital (previous owner) built out 51,547 sq ft of
DIP uses. No payment triggered because of 100,000 s.f.
exemption.
1. Payment triggered by 10/20 Channel Center (to be paid out 1. $1,092,021.39 = total owed
in 12 equal installments). (based upon architect’s
certification of 247,363 sq ft of
space, plus 51,547 sq ft of DIP
uses developed by Beacon
Capital, minus 100,000 sq ft
exemption, equals 198,911 sq
ft, multiplied by $5.49/sq ft);
first $91,008.17 installment
2. Payment triggered by 40 Channel Center (26,400 sq ft) (To paid.
be paid in 12 equal installments). 2. Responsibility of owner of 40
CC.
Beacon Capital, original owner of Channel Center, had
considered doing a housing creation proposal at 154 West
Second Street. The property has since been redeveloped by
another developer.
Jobs linkage payments:
Approximately $986,077.22 in total owed.
First 100,000 sq ft of Development Impact Project Uses are
excluded and do not count towards the obligation.
(DIP uses do not apply to residential uses.)
Beacon Capital, previous owner, built out 51,547 sf ft of DIP
uses. No payment triggered.
1. Payment triggered by 10/20 Channel Center (to be paid in 1. $216,812.99 paid (payment in
two equal installments). full).
2. Payment triggered by 40 Channel Center (to be paid in two 2. Responsibility of owner of 40
equal installments). CC.
Transportation Mitigation:
1. A Street/Melcher Street signalization. 1. Scheduled for April/May 2011
construction.
2. West Connector (Richards Street) - fund road design. 2. Complete.
3. A Street/West Broadway Improvements (obligation 3. Developer has funded a portion
associated with the redevelopment of the 40-44, 46-48 and of the traffic improvements at
50-52 Midway Street properties, i.e., 5 CC and 7-9 CC). this intersection undertaken by
These include: the developer of the 50 West
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3. a. modifying the signal at A Street and West Broadway Broadway project. The
b. providing a new traffic signal controller remaining items will be
c. adding one PTZ camera undertaken in concert with
d. adding up to 8 vehicle signal housings development of the 7-9
e. installing up to 200 ft of conduit for left turn phases Channel Center mixed use
on West Broadway project.
4. A Street improvements: 4. To be completed as part of the
a. roadbed resurfacing and restriping within existing 1+2 Channel Center project;
curb lines from West Broadway to Congress Street signal at A/Richards Streets to
b. new sidewalk pavement, and new signals at be installed if BTD determines
A/Richards Street intersection there is sufficient need.
5. A Street and West 2nd Street Improvements: 5. To be completed as part of the
a. install pavement markings 1+ 2 Channel Center project.
b. install 2 vehicle signal houses
c. install up to 200 feet of conduit
d. Repair sidewalks at intersections as needed
e. modify signal at A Street and West 2nd Street by
providing mast arm/camera
f. contribute $10,000 towards the installation of
conduit from the A/Melcher Streets signal to a
future Binford/A Streets signal (if constructed; BTD
agrees there is no current demand for a traffic
signal at this location)
6. Implement a Transportation Demand Management 6.
Program:
a. Provide bicycle storage /showers for commuters a. In place at 10/20 CC
when development reaches 862,800 sq ft of
leasable office space or completion of garage at 1 +
2 Channel Center (neither has occurred yet)
b. Assess need for shuttle service when development b. Shuttle service in place
reaches 595,000 s.f. of leasable office space (has for employees of 10/20
not occurred yet) CC
c. Have on-site TDM coordinator c. In place
d. Join the Seaport Transportation Management d. In place
Association
Creation of Affordable Housing:
(10% of housing to be affordable)
1. Midway Studios (15 Channel Center Street, f/k/a 24-38 1. In place: 36 artist affordable
Midway Street): units: 18 affordable units at less
a. 30 affordable units required; 24 affordable units to than or equal to 50% of AMI, 12
be made available to people earning up to 80% of affordable units at between 50%
Area Median Income (AMI) and 6 affordable units and 80% of AMI, 6 affordable
to be made available to people earning between 80 units between 80% and 120% of
and 120% of AMI AMI.
2. 35 Channel Center (f/k/a 2 Midway Street): 2. In place.
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4. a. 6 affordable units required; 3 affordable units to be
made available to people earning between 80% and
120 of AMI and 3 affordable units to be made
available to people earning up to 80% of AMI
3. 7-9 Channel Center (f/k/a 40-44 + 46-48 Midway Street): 3. Notice of Project Change
a. 6 affordable units required; 3 units to be made submitted – affordable units
available to people earning up to 80% of AMI and 3 (including live/work units) to be
units to be made available to people earning included.
between 80% and 120 of AMI
Create approximately 4,000 construction jobs and 5,000 permanent Ongoing.
jobs.
A net increase of approximately $6,500,000 in annual real estate taxes. To be realized at full completion of
Channel Center Project.
Revitalize 7.09 acres. Ongoing.
Encourage 24 hour neighborhood. Ongoing through rehabilitation of
remaining buildings and construction of
new buildings.
Rehabilitation of at least 13 buildings. Completed – 2 additional buildings
originally slated to be demolished will
instead be preserved and be
rehabilitated .
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