Ikea and Federal realty propose land swap at Assembly Square

On November 20, 2005, in Uncategorized, by The News Staff

Ikea and Federal Realty propose land swap at Assembly Square
By George P. Hassett

   Two Assembly Square landowners are discussing swapping their land in order to bring more mixed-use to the development site, said a neighborhood activist this week.
   Wig Zamore, of the Mystic View Task Force, confirmed that Ikea and Federal Realty Investment Trust were in talks to move the Swedish furniture chain away from the waterfront land it is currently slated to inhabit.

   If the deal is completed, Ikea will move to the area designated as Yard 21, where Good Time Emporium currently resides.
   Mark Horan, spokesperson for Mayor Joseph A. Curtatone, said the land swap is a good step for Assembly Square development because it will bring more mixed use to the site.
   But Zamore said the deal may not prove so positive for Somerville‚Äôs future.
  ‚ÄúThe deal would just be a continuation of Assembly Square being used for big box retail,‚Äù he said.
   Zamore said the most effective plan would involve more buildings dedicated to office space rather than retail.
  ‚ÄúOffice space creates more revenue in the long term. It also creates more jobs. Big box space not only creates fewer jobs but it also creates traffic problems because for every job there are hundreds of customers traveling to the store,‚Äù he said.
   Zamore pointed to the opening of the new Ikea store in Stoughton as a signal for what is to come for Somerville traffic.
  ‚ÄúState Police in Stoughton have had to shut down the highway because of congestion created by Ikea. Here it would be much worse. There is the potential for a complete blocking of route 93, bringing the regional economy to a halt,‚Äù he said.
   Horan said the comparison to the Stoughton opening is a faulty one because of the excessive hype that store has received over the past few weeks. A better barometer of Ikea‚Äôs effect on traffic around Assembly Square will be the roads in Stoughton in a few weeks when the hype dies down, he said.
   Horan said Curtatone could not comment on what stage the negotiations between Ikea and Federal Realty Investment Trust were in, but that the mayor believed the land swap would be good for Assembly Square and the entire city. 

 

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