Chelsea voters have $500,000 in state funding to thank the Patrick Administration for on Election Day. The governor’s office directed that sum toward a transformative Eastern Avenue development, converting a deteriorated half-block into a $20 million undertaking. By summer’s end in 2011, the site—formerly home to a condemned wooden factory structure—will feature 120 residential units alongside commercial space for five retailers. Without this state investment, the development would never have materialized, according to “The governor and I both believe that partnerships are the only way you get business done,”, Lt. Governor Tim Murray stated. Murray served as the featured speaker at the early morning ceremony held on-site to formally recognize the initiative. Transportation Secretary Jim Mullins was present, along with City Manager Jay Ash, Representative Gene O’Flaherty, City Council President Leo Robinson and various municipal colleagues, School Department officials, and Chamber of Commerce representatives. The developers and financial institutions instrumental in bringing the project to fruition also attended. East Boston Savings Bank provided $15.5 million in financing for the venture. “At one time, the factory on this site was located in such a way that residents could walk from their homes to the factory,” City Manager Ash remarked. “A factory would never be allowed on this site today as it is across the street from the elementary school and too close to a residential area. This project is our effort at resolving residential development conflicts,” he continued. The residential-retail combination promises job creation while avoiding environmental degradation. Dave Graney, leading figure at Synergy Investment and Development, addressed attendees gathered beneath a tent on the property, characterizing One Webster—the project’s name—as challenging yet ultimately rewarding. Lt. Governor Murray concurred with this assessment. “Construction people have been put to work. Jobs have been created and permanent jobs will be created for the new businesses that will locate here. This is exactly what we’re trying to do all over the state and I believe the governor has been quite successful at it.”
