Proposed 2,600-Unit Development Set for Cambridge’s Fresh Pond Area
A significant development project in Cambridge could introduce over 2,600 housing units to the area, enhancing accessibility to the MBTA Red Line terminus. The Denver-based real estate developer, Healthpeak, has filed a comprehensive 132-page environmental notification form with the Massachusetts Environmental Policy Act Office, detailing plans for a nearly 46-acre site near Fresh Pond, off Concord Avenue close to Alewife Station.
The proposed development, with an estimated cost of $4.5 billion, would create approximately 4.6 million square feet of floor area, including the aforementioned housing units. According to the filing, about 14 acres of the project will be dedicated to plazas, open spaces, and pocket parks, fostering a community-friendly environment. Construction is projected to span a decade.
Design Features and Community Impact
The design emphasizes a pedestrian-oriented experience, featuring walkable streets, active ground floors, and vibrant open spaces. The proposal states, “Diverse housing options, consumer services, recreational amenities, and diverse programming are intended to draw a broad range of residents.”
Additionally, the project plans to include a new pedestrian bridge over the Commuter Rail tracks, enhancing access to the MBTA Alewife Station. While the design awaits official approval from the MBTA and local authorities, the tallest building is expected to reach 160 feet, potentially extending to 16 stories. The development will incorporate three existing structures, comprising two six-story office buildings and a two-story retail space.
The proposed site map indicates around 20 new buildings will be constructed near Fawcett Street and Smith Place. Healthpeak anticipates that construction could commence within a year following local approvals, with a projected timeline for approval extending into late summer 2026. The entire project is expected to be executed in two phases over a minimum of ten years.
Healthpeak has not responded to requests for comment regarding the proposal. As the project unfolds, it promises to reshape the landscape of the Fresh Pond area and contribute significantly to Cambridge’s housing supply.
