SOMERVILLE, Mass. -- Sen. John Kerry was among the dignitaries who surveyed a Somerville construction project Saturday slated to receive thousands in federal stimulus funding.

NewsCenter 5’s Todd Kazakiewich reported that the Mystic project, which will feature 35 acres of mixed-use retail, office and residential space, is one of hundreds of “shovel-ready” initiatives gearing up across the state.

The Mystic project is expected to create hundreds of temporary construction jobs, and officials say the new retail space will generate dozens of permanent jobs for area residents.

“All of those are things that can help our economy get moving and restore confidence,” said Kerry.

The Mystic development will also include an MBTA orange line stop, Somerville Mayor Joe Curtatone said. The project will create more than one million square feet of retail space and 1.75 million square feet of retail space.

Federal Realty Investment Trust, the Maryland corporation spearheading the development, said that the project will prove to be a smart long-term investment, despite the current downturn.

“We think the combination of the T stop, the Mystic River, I-93 -- the confluence of all those things together makes this a great site to live, work and play,” said spokesperson Don Briggs.