In less than a week from now, the massive redevelopment project of NorthPoint will take a major step forward. The ceremonial groundbreaking of one of the project’s apartment towers is scheduled for Wednesday May 29th. Located on a 45-acre parcel of land in Cambridge at the edge of the Charles River, the property is expected to eventually transform into a full-fledged neighborhood.
The new 20-story, 355-unit apartment tower will hold 8,000 square feet of retail space on its ground floor. This only marks the the beginning of NorthPoint’s construction. The property was approved in 2003 for 5.2 million square feet of development, with 2.2 million allocated towards office and retail space. One of the buildings under construction is a 300,000 square foot office building that will hold over 1,200 employees of Swiss company EF Education First.
After securing tenants for the office space, NorthPoint’s developers plan to construct a 150,000 foot retail plaza on the property, complete with a supermarket, restaurant, and shops. Upon its completion, NorthPoint will offer companies and retailers with an abundance of available commercial space.
The progression of NorthPoint’s development is excellent news for surrounding East Cambridge community. Barbara Broussard, president of the East Cambridge planning team, credits the project’s developers for finding the right mix of residential and commercial space. “NorthPoint has so much potential, we just have to work at it,” she says.
NorthPoint’s developers are HYM Investment Group and Canyon-Johnson Urban Funds. (Boston Business Journal, Centers and Squares)
