Healthpeak Properties, a fully integrated real-estate investment trust and real-estate investment manager Hines have formed a partnership to develop the residential elements of the Cambridge Point master-planned district in Cambridge, Massachusetts, US.
Hines will manage the residential development, working closely with Healthpeak as the project’s master developer.
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The first residential building’s construction is expected to start within 12 months after receiving entitlements, projected for the second half of 2026.
Cambridge Point is a 40-acre master plan located near the Massachusetts Bay Transportation Authority (MBTA) Rapid Transit Rail Station in the Alewife neighbourhood, with a development capacity of five million square feet.
The project aims to include multifamily residential units, research and lab space, and community-oriented ground-floor retail spaces.
It is set to be designed as a pedestrian-friendly district, featuring a walkable retail corridor and a network of green open spaces that connect to Fresh Pond and Alewife Brook Reservation.
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By GlobalDataHines claims it has a longstanding presence in the Greater Boston market, with nearly $3bn in properties and active developments, including South Station Tower and several multifamily and industrial projects.
Hines US East market head and senior managing director Sarah Hawkins said: “Hines has a deep-rooted history in the Boston area, including our work at Fuse Cambridge in Alewife, and we’re proud to partner with Healthpeak to continue shaping the community’s built environment.
“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.”
Healthpeak chief development officer and lab head Scott Bohn said: “Cambridge Point aligns Healthpeak’s core values through community development – it’s about shaping a place where people can live healthy lives, establish connections, innovate, and thrive.
“Through our collaboration with Hines, we can contribute positively to the neighbourhood in ways that reflect the values of the Cambridge community and support its ongoing growth as a global hub for innovation and discovery.”
In May 2024, Hines, alongside real-estate company Trez Capital, marked the commencement of Northspur, a 700-acre master-planned community in Terrell, Texas, US, with a ground-breaking ceremony.
