Project Background 2012 – February • BRA awards HBI & RVMS Tentative Designation for 1 year in order to have site control to develop proposed development
2012‐2013 • Conduct more extensive exploration of Substation redevelopment costs and market for potential uses • Confirm Substation redevelopment remains extremely financially challenging • Approached by Higgins family about potential sale of their property • Interviewed 6 potential developer partners who could leverage redevelopment of Higgins parcel, consistent with Master Plan goals, to facilitate redevelopment of Substation • Select Peregrine Group because of its extensive experience and vision