Greater Boston is in growth mode. Employment is at an all-time high and the area is experiencing a boom in population double the pace of the entire state and faster than the nation. This growth has propelled Boston into a new transformative phase – with office, retail and residential development changing the area like never before.
The development is widespread in and around the city, yet the area’s most significant projects have one thing in common—access to public transportation. You don’t have to look much further than the development around T stops like North Station, Alewife, Assembly Row, or Fenway to see this trend occurring.
This increasing link between the MBTA and major development projects was the focus of our recent Tracks to Growth Capital Markets Perspective event.
There was no better person fit to provide insights on this topic than Massachusetts Secretary of Transportation Stephanie Pollack, who served as our event’s keynote speaker. Secretary Pollack was captivating in her delivery, proclaiming that her most important MBTA project is fixing the MBTA itself before expansion. Customer satisfaction was highlighted as a key metric for measuring success in achieving that goal.
However, she was quick to say, “I believe that we will actually re-invent the T as one of the highest-performing transit agencies in the United States. I do not think we will do it in a month, I do not think we will do it in a year, I will not give you odds on how long that process will take. But I believe we will do it because we have to do it.”
Secretary Pollack also touched on co-investment and partnership opportunities, development on land owned by the T, the Green Line extension project, transportation in the Seaport, model systems in other cities, and planning for the future of the MBTA.
Please feel free to contact me for more information or if you have any questions.