The terminal is owned by the Economic Development and Industrial Corporation of Boston and is leased to Massport through 2070. The agency says it wants maritime-related development for the site, of which 10 acres have been dedicated to the seafood processing business. The agency is looking for developers interested in developing or subleasing portions of the remaining 30 acres. This site has most recently been used as construction staging by the Big Dig project. As that nears completion, all of the 30 acres will become available for redevelopment between 2003 and 2007.

Massport CEO Craig Coy notes that "this is a terrific opportunity for significant industrial development right in the heart of Boston's working port. With a revitalized working waterfront this area has tremendous potential."

Massport set aside 10 acres on the terminal to build a new seafood district in South Boston. In 1998, the City of Boston completed the construction of the New Boston Seafood Center, a two building complex on land contiguous to the terminal. Two years ago, the Harbor Seafood Center was completed as the first phase in Massport's four-phase development plan. In November 2002, Legal Seafoods broke ground on the second phase to relocate its headquarters and central processing facilities.