The Massachusetts Port Authority (Massport ) today announced Roseland Property Company/SeaChain Marine as the developer for its three waterfront parcels along Marginal Street in East Boston. Roseland Property Company, Inc. is a New Jersey-based full service real estate company specializing in the development and construction of residential properties in the Northeastern United States. Roseland has partnered with SeaChain Marine LLC to develop the Marina and Shipyard properties. SeaChain is a multi-functional marine-based organization which owns and operates four marinas along the Massachusetts coast and is headquartered in Hingham, MA.

The selection of Roseland Property/SeaChain Marine was based on extensive requirements set forth by Massport with strict adherence to guidelines as posed in its Request For Qualifications (RFQS). The RFQs were formed with input from the entire East Boston community after several community meetings last year and later through the formation of the East Boston Waterfront Development Advisory Committee. The advisory committee has met regularly with Massport throughout the process, offering valuable input.

From the twelve original RFQ responses submitted to Massport last winter, between two and five per site were identified as potential developers. Additional information was collected in the ongoing process to find the best qualified developer/operator to develop and manage these waterfront parcels.

"We are thrilled at the level of expertise Roseland and SeaChain are bringing to this important project and to the East Boston community," said Lowell Richards, Massport's chief development officer. "Developing this area of East Boston may be likened to a renaissance in the entire community. This is a multi-faceted undertaking and a huge investment in the future of Boston's waterfront."

Roseland Property's plans for development of Pier One include:

Development of approximately 560 units of housing on the pier and back lands
Approximately 650 parking spaces on the pier and back lands
Approximately 22,000 square feet of retail/restaurant space
A wide harborwalk and green space connections to the Greenway and Piers Park Phase II

Roseland's proposal also addresses key design preferences expressed by the community regarding density, heights, and setbacks. Construction on Pier One will likely begin in late 2001, with the first housing units completed in 2003.
SeaChain's preliminary plans for the Marina/Shipyard include:

Revitalization and upgrade of existing 180-slip marina
Additional 200 slips on Pier Five
Modest-sized new marina service/restaurant building
Approximately 150 surface parking spaces
Upgrade of commercial facilities and industrial buildings at shipyard

SeaChain's proposal also promotes water dependant industrial uses at the shipyard, including ferry service. The proposal maintains the surrounding land areas and preserves the character of the community with plans for truck traffic and pedestrian access.

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