The project, which Kerry said could
create as many as 20,000 new jobs and 18,000 temporary ones, is poised
to receive up to $56 million in federal stimulus funds. This funding
will create jobs in "a matter of days and weeks," according to Kerry,
and will go toward roadway and water-sewer improvements to support the
$1.36 billion project.

Kerry said that "Assembly on the Mystic"
is a top priority for Governor Patrick, and has been included in the
list of "shovel-ready" projects that can commence as soon as the
stimulus funding flows.

Kerry spoke about the project's economic
benefits, saying that the growth in the tax base of Somerville, the
most densely populated city in New England, will help reduce residents'
property taxes.

"This is an example of how public investment can
have such an incredible return" said Curtatone, who reported that
Assembly on the Mystic would increase the city's tax base by $33
million.

The next phase of Assembly on the Mystic will involve
building the 340,000 square-foot IKEA store. The Swedish furniture
retailer was originally slated for a waterfront location, but agreed to
move the store to an inland section of the lot as a part of a land swap
this past summer that allowed the project to move forward. The plans
also include a waterfront park, 2100 residential units, new restaurants
and retailers, and paths to make the area more accessible to
pedestrians and bicyclists.

"What looks like a vast empty area
will be the most dynamic area in the region" Mayor Curtatone said,
standing in a flattened dirt lot bordered by rails, I-93, Rt-28, and
the Mystic River. The Orange line trains traveling between Medford and
Sullivan Square, the T's lone Somerville stop, can be seen passing the
site. This is set to change though, as a plan for a stop at Assembly
Square is being planned for 2013. A $25 million earmark has been
secured the for the Assembly Square T stop, and another $15 million of
private funding will be provided by developer Federal Realty. No
federal funding will be allocated to the new station, according to
Curtatone.

Up until this past summer, the T stop has been held
back by what The Somerville Transportation Equity Project (STEP) calls
a chicken or the egg problem: "An Orange Line stop is needed to
jump-start mixed-use development at Assembly Square, but the MBTA wants
to see a developed Assembly Square before planning a new T stop there."
STEP's website also points out that, according to the 2000 Census, one
quarter of Somerville residents do not have cars, and although one of
the 6 passenger trains that passes through Somerville stops in it. "The
Assembly Square T stop will help unlock the prosperity of the site,"
said Kerry.

Throughout Kerry's brief speech, he emphasized the
larger picture that the Assembly Square effort is a part of, and
praised Obama's efforts in passing the federal stimulus bill, and
expressed dismay at the lack of Republican support. "This is the most
important thing we can do," he said, "put people back to work, create
jobs, restore confidence in the economy, and get back to work to make
America strong."