Big Dig HQ Can Be Sold

The sale was made possible once the General Accounting Office, an agency of the federal government, ruled that MassPike could use proceeds from the sale to help pay off the Big Dig. The problem was the $8.5 billion cap on federal funds that could be used to pay for the massive project. The building was originally purchased with state and federal funds, but in a letter from the GAO to the state's Inspector General, the GAO's general counsel writes "we find ample support for DOT's view that, given the context of the statutory language, the legislative history and the historical record, the cap only applies to apportioned funds." It goes on to say, "there was no indication that the cap was intended to include any proceeds or net profits that might be realized from the sale of previously acquired property."

Hantchett tells GlobeSt.com that the property will be put out to bid in the next few months. He adds that MassPike will work with the Boston Redevelopment Authority to develop a request for proposal and some of the proceeds from the sale will go toward paying off the Big Dig.

The site is currently zoned for mixed use and Hantchett says it has the potential for up to 2.8 million sf of space and up to 400 feet in height. He says MassPike is looking for a project that will model the Prudential Center, Boston Properties' 3.2-million-sf mixed-use urban center that is located on a 23-acre site between Boylston Street and Huntington Avenue. That project is comprised of 2.6 million sf of office space and 620,000 sf of retail. Hantchett notes that MassPike is looking for a project that is primarily office space with a residential and retail component.