"There is a great need for residential development in East Cambridge right now," says Mahmood Malihi, a partner at Leggat McCall. "Over the past decade the area has undergone a renaissance and it is poised to become one of the most vibrant neighborhoods in the Boston area."
Construction is set to begin soon on 199 residential units, 203 parking spaces and approximately 8,000 sf of retail space. The architectural firm of Elkus/Manfredi is the architect for the project and John Moriarty & Associates is the general contractor. ING is the construction lender for the project.
The largest residential development here in more than five years, it will be comprised of five independent buildings ranging from eight units to 66 units each. The units range from 700 sf to 2,600 sf and include one-bedroom, two-bedroom and three-bedroom condominiums, lofts and townhouses. The unit prices range from $395,000 to more than $1 million with more than 50 different floor plans.
Three of the buildings represent a reconstruction of old structures and two of the buildings represent new contemporary structures. According to Leggat McCall officials, the design for the project "combines the intimacy of small buildings with the economies of scale of a $100-million project."
Construction for the project, which was purchased after completing a 10-month approval and permitting process, will start by late November and the projected occupancy for the project is March 2006. Constructed in various phases, One First St. originally dates back to 1866, when the first of its eight interconnected buildings was constructed as a site for the Davenport Furniture Co.
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