Sharon Smith, Chair of CAN’s Strategic Development Committee, provided the following report on the Oct 15th monthly meeting of Cambridge Waterfront Development Inc.
I attended CWDI’s monthly board meeting this morning. The agenda is attached. CWDI has/expects to receive $1.720M in State grants and is pursuing Federal economic development tax credits. High on the list of planned expenditures is a $300,000 promenade expansion for public access along the waterfront. BCT Design is under contract to assist with creating a conceptual master plan and marketing. Potential occupants of the property include a planned expansion of Yacht Maintenance, Peregrine Senior Living, and RAR brewery. The Peregrine project alone includes a $16M project cost and up to 100 employees and will occupy land on the edge of Sailwinds (not on the water). All funds received will be reinvested in the project for infrastructure development. Within the next two months CWDI will hold 7 – 8 public input sessions, which will be advertised online and in the Banner. The sessions will run approximately three hours each and participants will have the opportunity to work in small groups to offer suggestions on concept, design, development ideas, etc.