The first phase of construction has begun at Assembly Row, slated to be the largest residential real estate project under construction in this region, according to a press release.
AvalonBay Communities, a real estate investment trust with multi-family apartment communities across the country, announced last week that it has begun construction on the residential component of the first phase of development at Assembly Square that will feature two distinctive living options in separate residential buildings – Avalon at Assembly Row and AVA Somerville.
This is the cornerstone residential component within Federal Realty Boston’s overall master redevelopment plan for Somerville’s Assembly Square. The $100 million development will reshape the residential landscape of Somerville, totaling over 470,000 square feet and 448 apartment homes plus more than100,000 square feet of retail space to be owned and operated by Federal Realty.
“We are pleased to be an integral part of Somerville’s ongoing renaissance,” said Scott Dale, senior vice president of development for AvalonBay Communities, Inc., in a press release. “We’re also looking forward to introducing – for the first time in New England – our new brand, AVA. Our community at Assembly Row will provide two distinctive living options in one of greater Boston’s most exciting new neighborhoods.”
This critical residential component is the first step in bringing the new Assembly Row to life. One of New England’s largest developments, Assembly Row is a new, mixed-use, transit oriented neighborhood spanning more than 50 acres on the banks of the Mystic River. It is expected to bring in significant new revenues for the city and state.
“The most exciting aspect of Assembly Row is that it’s an entirely new urban neighborhood that incorporates the best of Somerville’s popular residential, business and entertainment districts,” said Mayor Joe Curtatone. “The retail, office and river-view park elements are all important – but getting the housing element right is absolutely critical. That’s why we’re so enthusiastic about AvalonBay’s participation in Assembly Row. They have the experience and the creativity to do a truly outstanding job and we look forward to working with them.”
Avalon at Assembly Row will be a traditional Avalon luxury apartment building, appealing to residents seeking upscale apartment living and high-end amenities with 195 generously-sized apartment homes, consisting of studio, one, two, and three bedrooms units, and will offer the high-end amenities and services.
AVA Somerville will be a modern, urban lifestyle apartment building, designed to attract the increasing number of people who want to live in close proximity to restaurants, nightlife, shopping and public transportation. With 253 apartment homes, consisting of studio, one, and two bedrooms, it will feature innovative design elements geared specifically towards active urban lifestyles, with many apartments engineered for roommate living. A new residential concept first introduced in late 2011, AVA communities feature modern design, a technology focus, and amenities that maximize the social experience of residents that will be the first of its kind in New England.
With 1.75 million square feet of new office space and over 50 retail outlet shops, several restaurants, a 60,000 square foot AMC Theatre, and a newly constructed public park along the Mystic River, Assembly Row will provide a new, fresh setting for the stimulating, active urban living experience preferred by so many young professionals, couples, and growing families. The MBTA will an a new Orange Line T station there too, the first new MBTA station to be built in over 25 years.
The two AvalonBay communities at Assembly Row will feature an array of first-class amenities, including expansive common spaces with multiple indoor resident lounges and outdoor courtyards, state of the art fitness center, and uninterrupted views of the Mystic River and Boston skyline. It’s proximity to the new Assembly Square Orange Line T station, which will transport residents into downtown Boston in mere minutes, makes Avalon at Assembly Row and AVA Somerville new, dynamic places to live in the greater Boston area.
According to a press release, construction is expected to be completed in July 2014, with occupancy to begin in summer 2013; the retail and entertainment components of Assembly Row are slated for opening in Spring 2014.
The development team includes AvalonBay Communities, Elkus Manfredi Architects, and legal counsel Goulston Storrs.