BOSTON (CBS) — The Boston Bruins’ practice facilities are moving to the Boston area.

The Bruins have signed a letter of intent for a long term-lease with Boston Landing, a mixed-used development in the Allston-Brighton, to build a new professional standard hockey rink that will serve as the team’s practice facility, team president Cam Neely announced Tuesday.

“Since joining the Bruins in a front office capacity, a goal of mine has been to move the Bruins into a first-class practice facility and this agreement moves us closer to accomplishing that goal,” Neely said in a release. “The vision that New Balance has for the Boston Landing project is exactly what we were looking for, and we are confident that through this partnership, we will build a facility that our entire organization will be proud of.”

“I am thrilled that we have found the Bruins a new practice home within the Boston city limits,” said Bruins Principal Charlie Jacobs. “Our goal is to set the industry standard in everything that we do, and we are confident that our new practice facility will do just that. As we enter the design phase of the project, we look forward to sharing details as they become available.”

In addition to ice time, the agreement includes approximately 25,000 square feet of dedicated locker room, training and office space. Construction is estimated to begin in Spring 2015 with completion for Fall 2016.

Boston Landing is a 14-acre mixed-used development in the Allston-Brighton neighborhood of Boston that includes the new world headquarters of New Balance, which will be completed in Fall 2015. A commuter rail station will also be built on the Framingham-Worcester line with completion for Fall 2016. In addition, the development includes additional office buildings, retail and restaurant space, a hotel and a sports complex.

The Bruins previous practice facility, Ristuccia Memorial Arena in Wilmington, MA had served as the Bruins practice home since the 1987-88 season.

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