NorthPoint Cambridge condos selling, rental complex planned
May 2011 18

NorthPoint in Cambridge was a massive billion-dollar+ mixed-use development proposed for railyards located at the edge of Boston / Cambridge / Somerville across the street from the MBTA Lechmere Green Line station.

Due to timing issues, however, (followed-up by some nasty lawsuits from nearby residents and some between the project’s partners), only two mid-rise buildings were constructed before all development stopped.

The Sierra and Tango condo buildings share 428 units between them (I believe they are separate condo associations).

Since the time that the lawsuits were settled, little has been heard from there. I didn’t even know they were still marketing the condos for sale. But, there’s been news.

From the boards:

The latest update that we have was from the spring 2011 newsletter. The developers are in the initial phase of designing a rental high rise which is expected to start construction within the next 18 months. Lot U has opened up for parking. Over one-third of the units (there are 329 total) have been sold and they closed on 17 units since January 2011.

It’s not encouraging that only a third have sold, five years after the first closing. That 17 have closed since January (I’ll take them at their word) is impressive, however.

Prices for many of the one-bedrooms are in the $350,000 – $450,00 range, and many have separate dens. That’s really good for new construction.

The advantage of having a rental building go up is that there at least will be more density. Making the area more of a neighborhood means it will be more appealing. There are several other residential projects in the area, including the Regatta Riverview and the Archstone NorthPoint. It makes the neighborhood feel less industrial. With the landscaping going on, it will be an attractive place to live, convenient to downtown Boston as well as the suburbs.

Please contact me for more information on NorthPoint as well as to set up private showings.

Above image from the MLSPIN listings.

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