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Apr. 19, 2013

Nauset Completes Rental Building in Cambridge; Developer Eyes Seaport District for Large Multifamily Project

By Veronica Grecu, Associate Editor

Nauset Construction, a real estate development company based in Needham, recently finished converting the former Holmes Building in Central Square in downtown Cambridge into 21 rental units. The $3.5 million redevelopment project was designed by The Architectural Team (TAT) for owner Central Square, LLC, and it called for interior and exterior renovations of the former C-shaped, seven-story office building located on Massachusetts Avenue.

“What made this project especially challenging was that we were working in a fully occupied building that had 24 hour retail and a dental office on the bottom floor,” said Nauset president Anthony Papantonis in a press statement.

Located within walking distance from Central Square’s Red Line Stop and close to Boston’s tech corridor—a highly sought after location for corporate housing—the 21 apartments are a much-needed addition to the area’s rental market. The renovated structure also includes a new fitness room, conference room, storage area and laundry room, as well as roof deck plazas for three units.

Meanwhile in Boston’s Seaport District, a much larger residential project could replace a vacant parcel at 399 Congress Street. According to the Boston Business Journal, in 2006 developer Madison Seaport Holdings LLC received approval to build a $100 million hotel at the site, but the plan had to be cancelled because of the recession.

The Boston Redevelopment Authority is expected to decide on Madison Seaport’s new proposal during the April 23 hearing that will be held at ADD Inc. at 311 Summer Street. Reportedly, the development plan calls for a 22-story building with 414 apartments ranging from studios to three-bedroom units and a three-level underground parking facility with 144 spaces. The project also features a 12,000-square-foot lobby with retail space, innovation space on the building’s second and third floors, and 12,600 square feet of shared-use amenity space consisting of a fitness room, media room, and a game and lounge area.

Rendering of the Holmes Building courtesy of The Architectural Team

 

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