MassDOT today announced that a land exchange agreement has been approved to facilitate extending the Green Line north of Lechmere Station to Somerville and Medford, while also advancing the NorthPoint mixed-use development project.
The agreement between the MBTA and Pan Am Railways approved by the MassDOT Board of Directors allows for construction of a new Lechmere Station on the east side of O’Brien Highway in East Cambridge across from the current station location.
Among the key elements of the agreement, the MBTA and MassDOT will receive:
• All of the trackage and property rights necessary to build and operate the Green Line Extension, which have a combined value of $12.5 million. In addition to this real value, these rights provide a $5.5 million savings for MassDOT and the MBTA, which had expected to pay $18 million for these rights.
• Trackage rights off the Worcester Main Line to allow potential future passenger service from Worcester to Ayer. This will provide a connection between the Worcester and Fitchburg Commuter Rail Lines, and a potential future connection to North Station.
Pan Am also has agreed to assume costs associated with the required street and sidewalk improvements in the Lechmere area. The Green Line Extension project and the Commonwealth were planning to absorb this $9 million expense, which may now be deducted from the project’s total cost.
The trackage rights have a combined value of $30.7 million.
As consideration for receiving these rights from Pan Am, MassDOT and the MBTA will convey the site of the existing Lechmere Station to Pan Am, following the completion of the new Lechmere Station.
Link to announcement: