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Ground Lease 7 Channel St. (Parcel U) in the Raymond L. Flynn Marine Park, South Boston

Economic Development & Industrial Corporation of Boston (“EDIC”)
Request for Proposals for Ground Lease
7 Channel St. (Parcel U) in the
Raymond L. Flynn Marine Park, South Boston

Contact information:
Reay L. Pannesi; Reay.l.pannesi@boston.gov; 617.918.6239

The Economic Development and Industrial Corporation of Boston (“EDIC”), doing business as the Boston Planning & Development Agency (“BPDA”), conducts dispositions of EDIC-owned properties to encourage redevelopment and economic development in the City of Boston. This Request for Proposals (“RFP”) offers qualified developers an opportunity to submit proposals for the redevelopment and ground lease of Parcel U (the “Premises”), located at 7 Channel Street in the Raymond L. Flynn Marine Park (“RLFMP”) in South Boston, Massachusetts for the purpose of: enhancing its potential uses and value in a manner consistent with the zoning and other regulatory standards that define the uses of the Premises and capturing the opportunities presented by the 2022 RLFMP Master Plan Update. The Premises consists of land area of approximately 45,310 square feet, with a masonry and metal building thereon of approximately 27,049 square feet. Potential redevelopment of the Premises could include commercial, general office, high-tech manufacturing, life sciences, research and development, marine industrial, aquaculture and general manufacturing, or more traditional distribution and cold storage. Residential and hotel uses would not be considered. The location of the Premises could include a single engine company Boston Fire Department Station (“BFDS”) within a proposed development. Therefore, this RFP requires proponents to include two development scenarios in their submitted proposals – Program A and Program B. Program A should consist of uses that conform to the goals articulated above. Program B shall conform to those goals, but also include the delivery to the BPDA of a core and shell space that the BPDA could dedicate to community and/or government use, a community benefit that shall come at no cost to the BPDA. To the extent permissible under applicable law, the BPDA anticipates that this space may serve as a BFDS as needed to better serve the South Boston Seaport and the City of Boston overall. The BPDA expects a ground lease price per year at project stabilization of at least $15.00 per gross square foot (“GSF”) of floor area constructed for Program A and $10.50 per GSF for Program B. The Premises are being offered as is, without warranty of any kind, express or implied. If concerned about the Premises’ condition, legal or physical access and the maintenance thereof, property lines or boundaries or any other matter affecting the Premises, prospective developers should investigate and conduct whatever due diligence and inspection deemed necessary. The RFP package will be available on the BPDA Procurement Portal at http://www.bostonplans.org/work-with-us/procurement beginning June 8, 2022. Completed proposal applications must be submitted as instructed and returned directly to the BPDA Real Estate, 22 Drydock Ave., 2nd floor, RLFMP, South Boston, attention: Reay L. Pannesi, by August 8, 2022 no later than 12:00 PM. Late proposals will not be accepted. A fee of $10,000.00 is payable upon submission of proposals, and is refundable for those proponents not selected. For more information about this Request for Proposals, contact Reay Pannesi, Senior Real Estate Development Officer at (617) 918-6239 or Reay.L.Pannesi@boston.gov

Michelle Goldberg, Director of Finance & Chief Procurement Officer