During April 2002, ULI issued a request for applications, which produced 12 specific responses. The Kiley Barrel site in Somerville, Massachusetts was selected for the inaugural ULI Boston Panel, which met on June 19, 2002.
The Kiley Barrel site, located in the southeastern part of Somerville close to the center of Union Square, was acquired by the Somerville Redevelopment Authority (SRA) in February 2002. When combined with a contiguous City-owned parking lot, the 32,680 square foot parcel represents one of the few opportunities for new development within Union Square, which Somerville considers its second central business district. The Panel was charged with providing observations and insights regarding potential short and long-term use, utilizing its experience in land use design & planning, market feasibility of various development options and financial structuring.