The multimillion-dollar One First Development will transform the old Necco candy factory, a long-time local landmark, into 196 luxury condominium units that are expected to sell from the low $400,000s to more than $1 million. "We've had good reception from the market," Mahmood Malihi, executive vice president of Leggat McCall, says of the development.
Malihi says plans call for the development to retain three of the historic candy factory buildings and add two new ones, all of which will be centered around a private courtyard. Each building will range in size from five to seven stories, he says.
Necco, which for 78 years has made a variety of famous candies, including wafers and confectionary hearts, moved into an 810,000-sf candy plant in Revere in 2003. The Cambridge property has since been designated a landmark by the National Parks Service.
Leggat McCall says it will turn the 1.5-acre site, located on almost a full city block bordered by First, Cambridge, Second and Otis streets, into a five-building development that will include 269,793 sf of residential and 9,000 sf of retail space. The project, designed by Boston-based architect Elkus Manfredi and built by John Moriarty & Associates, of Boston, will feature a private one-quarter acre garden along with a common roof deck offering panoramic skyline view. The project also calls for an underground parking garage, fitness room, library and concierge service. Developers say the units will be constructed in phases with the first phase slated for occupancy next summer.
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