- Healthpeak Properties, Inc. (DOC, Financial) partners with Hines for the Cambridge Point mixed-use development in Cambridge, MA.
- The project will cover 40 acres, offering up to five million square feet of residential, research, and retail spaces.
- Construction is expected to start in the second half of 2026 upon receiving necessary entitlements.
Healthpeak Properties, Inc. (DOC), a notable real estate developer in the healthcare sector, has announced a strategic partnership with Hines, a global real estate investment manager, to develop the residential segment of the Cambridge Point master-planned district in Cambridge, Massachusetts. This collaboration is set to enhance Cambridge's Alewife neighborhood with a project that spans 40 acres, featuring the potential for up to five million square feet of development.
The development plan envisions a blend of multifamily residential units, research and lab spaces, and community-focused ground-floor retail establishments. Hines will spearhead the residential development, with construction on the initial residential building anticipated to commence within the first year after receiving entitlements, expected in late 2026.
Cambridge Point, strategically located near the MBTA Rapid Transit Rail Station, aims to create a pedestrian-friendly environment with a walkable retail corridor and extensive green open space. It will include a pedestrian bridge to connect directly to the MBTA red line, facilitating access to Kendall Square and South Station, reinforcing the district's appeal as a transit-oriented hub for innovation.
The project, which constitutes the last significant development opportunity in Cambridge, aligns with Healthpeak’s commitment to fostering community development and innovation. "We are thrilled to welcome Hines as a key partner in realizing our long-term vision for Cambridge Point," noted Kelvin Moses, CFO of Healthpeak. In addition, Scott Bohn, Chief Development Officer of Healthpeak, remarked, "Through our collaboration with Hines, we can contribute positively to the neighborhood in ways that reflect the values of the Cambridge community and support its ongoing growth as a global hub for innovation and discovery."
Hines, with over 40 years of investment history in the Greater Boston area, including projects like the South Station Tower and Fuse Cambridge, stands poised to bring its expertise to this expansive development. "Our goal is to deliver housing that will integrate innovation, intentional design, and a robust sense of place, reflecting the values of Cambridge for generations," said Sarah Hawkins, Senior Managing Director at Hines.
