“It’s exciting to be kicking off this phase of development in Union Square. We express our deep thanks to Mayor Curtatone and the City of Somerville for giving us the opportunity to envision Union Square’s bright future, and we look forward to making this development one that Somerville will be proud to call its own,” says Greg Karczewski, President, US2. There will be an economic renaissance of grand scale for this neighborhood, and we are confident that Union Square’s culture and community will flourish even more as a result. At the same time, USQ signals to the world that Somerville is becoming an important new life sciences hub. When USQ comes to fruition, we are confident that it will honor and enhance these Somerville values. Whether visiting the Prospect Hill Memorial Flag Tower to find views of the city, or simply sitting in the square watching street musicians, you can sense how innate it is to Union Square’s identity to push forward, reinvent, transform and explore. The pride we take in developing these 15 acres quite literally draws on centuries of historical milestones. “No other modern-day development can lay claim to being in a neighborhood so steeped in American history. JLL will lead the property’s life sciences and innovation leasing Graffito SP will handle the property’s retail and placemaking leasing. bring the initial phase of USQ to fruition, the team at US2 is working with Gilbane Building Company on lab construction and Cranshaw Construction on residential construction. USQ is developed by US2, a joint venture between Magellan Development RAS Development LLC Cypress Equity Investments and USAA Real Estate. It is slated to begin occupancy in Winter, 2022. In the first of many groundbreakings, US2 celebrates 10 – 50 Prospect Street today this four-acre site in the heart of the neighborhood, and adjacent to the new MBTA Green Line Station, will be home to three buildings with 194,000 square feet of lab and innovation space, 450 apartment units, as well as retail and arts and creative spaces and 271 parking spaces. Transit is an equally transformative and integral component to USQ - Union Square Station on the new Green Line Extension will open in December, 2021, creating invaluable accessibility to and from the neighborhood, shuttling passengers from Union Square Station to North Station in less than ten minutes. USQ comprises of 1.2 million square feet of new lab and office space 1,000 residences, including 200 permanently affordable units 3.6 acres of parks and open space 11 new, multi-purpose civic open spaces, including 3 neighborhood parks 140,000 square feet of retail 74,000 square feet of arts and creative space and 175 hotel rooms. Chapter 121B Urban Renewal Plan (i.e., the Union Square Revitalization Plan). The project is being implemented in collaboration with the Somerville Redevelopment Authority and is part of a M.G.L. The 2.4 million square foot development is central to Somerville’s growth plans, delivering on the community-led “SomerVision” plan by increasing jobs, housing, open space and transit. USQ will become the newest destination within the Boston-Cambridge innovation economy while simultaneously expanding the neighborhood’s vibrant residential community. Curtatone, broke ground on USQ, a $2 billion, 15-acre mixed-use, transit-oriented development that has been decades in the making. Somerville’s most historic neighborhood, Union Square, embarks on a momentous transformation and readies for an economic revival of great proportions as US2, together with the City of Somerville and Mayor Joseph A. SOMERVILLE, MA –US2, the Designated Master Developer working in partnership with the community, the Somerville Redevelopment Authority and the City of Somerville, on Wednesday broke ground on $2 Billion, 15-Acre Development in Somerville, MA.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |