The New Charles River Basin is a comprehensive environmental mitigation effort funded by the Central Artery/Third Harbor Tunnel (CA/T) project. Managed by the joint venture of Bechtel/Parsons Brinckerhoff and the Boston Department of Conservation and Recreation (DCR), formerly the Metropolitan District Commission, the project began with a three-year master planning process. Construction of the first parkland began in 1995 and is nearly complete today.

The project linked the Charles River Basin Esplanades in Boston and Cambridge with the Boston Harbor. The master plan for the New Basin was developed by Carr, Lynch, Hack and Sandell and includes five new parks and five pedestrian bridges.

Paul Revere Park and North Point Park were designed by Carr Lynch and Sandell with Oehme van Sweden Associates.

The Halvorson Design Partnership was responsible for Nashua Street Park and the Prince Street Park. Lovejoy Wharf Walkway were designed by Childs Engineering and Carol R. Johnson Associates, which also designed the City Square Park, also designed by Halvorson Design Partnership, is immediately adjacent to Paul Revere Park, which was also funded as CA/T mitigation.