NorthPoint was a stalled 45-acre development site straddling Cambridge, Somerville and Boston with infrastructure, environmental, permitting and other major hurdles.
Within two years of acquiring the overall site with Canyon-Johnson Urban Funds, HYM cleared all major roadblocks, including achieving unanimous approvals on zoning and special permits within all three cities.
The team positioned the remaining 17 fully permitted parcels for sale to DivcoWest in 2015, one of the largest land transactions in the history of Greater Boston. HYM remained a key development advisor through 2018.
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HYM designed, permitted and delivered the first Class A luxury multi-family in the NorthPoint neighborhood, raising the profile of the East Cambridge rental market. The team then successfully positioned the project for forward sale to an institutional buyer, the 10th largest multi-family transaction in the United States in 2015.