From the BBJ:
Wood Partners and Behringer Harvard have commenced construction of a 15-story luxury apartment building at NorthPoint in Cambridge, Mass.
Dallas-based Behringer Harvard Multifamily REIT I, whose investments include 51 multifamily communities in 14 states, provided $103 million in equity for development of a 392-unit apartment community dubbed “22 Water Street.” Behringer Harvard bought the 2.4-acre site for last year for $23.1 million.
The project, expected to be completed 2015, is being built adjacent to the proposed site of MBTA’s relocated Lechmere Station within the 45-acre, NorthPoint development, a master-planned neighborhood in development, that is expected to provide 5.2 million square feet of mixed-use space. The state has said it is committed to extending the Green Line north from the new Lechmere Station through Somerville to Medford.
For more information on the Boston luxury condo market please call Robert Veek at 617-720-5454.
Updated: 1st Quarter 2018
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