Federal Realty Investment Trust Announces MBTA Board Approval for Orange Line T Agreement
Federal Realty Investment Trust (NYSE: FRT) today announced that the Massachusetts Bay Transportation Authority board voted to approve a memorandum of agreement (MOA) between Federal Realty and the MBTA -- another significant milestone in Massachusetts' largest development project.
The approved agreement which received unanimous support from the board outlines the relationship between the MBTA and FRIT as they work together to design and build a new Orange Line T station. The station is a cornerstone of Federal Realty's new mixed-use neighborhood in Somerville, Assembly Row at Assembly Square. Complete with built-to-suit office space, residential units, parks and active urban streets with sidewalk cafes, retail shops, restaurants and entertainment venues, Assembly Row will undoubtedly be the largest new neighborhood in the Commonwealth since the Back Bay.
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