[Casey Ross via The Globe]
It’s another day and we hear about another project that was stalled and is now picking up momentum. NorthPoint in Cambridge is getting another chance at life when construction is planned to start by early next year. This massive project covering 45-acres will begin with a 19-story residential and retail building. Joining it will be a large office building retail, restaurants, shops, and pubs – all the necessary elements for a mini-city.
The development will transform a tract of land that was used for railroads between Charlestown, Cambridge, and Somerville.
Thomas N. O’Brien, managing director of HYM Investment Group, which is leading the development team gives us an idea of how big this project is:
“This is one of the biggest sites in the Northeast? Our objective is to embrace it as a residential area and layer in retail that really makes it work. That will also¬ help make it a very popular place for technology and life sciences companies.”
But really how big is it? The project will include 2,900 residences, 2 million square feet of laboratory and office buildings, several public parks, and 200,000 square feet of retail space at the tune of a $2 billion dollar investment Wowza!
The plans were approved by the Cambridge City Council in July, but O’Brien admits that it would take at least 10 years to complete, but is optimistic funding will be solid. - Brenda Phan
Read on for more details?