NorthPoint developers broke ground today on a new 20-story apartment building in Cambridge called "Twenty|20" that has been designed by CBT Architects. Rendering courtesy The HYM Investment Group.
Cambridge and state officials joined a groundbreaking ceremony Wednesday for a 20-story apartment building that developers say will lead the way in a wave of new construction at the NorthPoint development.
The first of 500 steel-enforced concrete pilings was driven into the ground for the high rise at 20 Child Street that will include 355 apartment units and almost 9,000 square feet of commercial space, according to NorthPoint developer HYM Investment Group.
“We are proud to play a role in helping a long-dormant site become an active place where people can live and work,” said Thomas N. O’Brien, the managing director of The HYM Investment Group, which along with its partners, acquired the development rights for NorthPoint in 2010.
The City of Cambridge had signed off on the development plan for the 45-acre site in Cambridge, Boston and Somerville in 2003, but work stalled in 2007 in part because of the legal and financial issues of the then development team of Pan Am Railways and the former real estate firm Spaulding & Slye.
Today, HYM Investment Group, is partnered with Canyon Johnson Urban Funds of Los Angeles and Pan Am Railways for the development project, which when completed will have about 2,800 residential units and about 2.2 million square feet of commercial space.
Two low-rise residential buildings at NorthPoint were completed under the project’s previous ownership. In addition to the work on the high rise that formally began Wednesday, a total of 17 other buildings will be erected as part of the development over the next several years, according to HYM Investment Group.
Massachusetts Secretary of Housing and Economic Development Greg Bialecki attended the ceremony Wednesday along with state Sen. Sal DiDomenico, Cambridge Vice Mayor Denise Simmons, state Rep. Marjorie Decker, who is also a city councilor, and fellow city councilors Craig Kelley, David Maher, Leland Cheung and Minka vanBeuzekom.
In a statement Wednesday, Cambridge Mayor Henrietta Davis said she is looking forward to the new jobs and places to live and shop that will come with the NorthPoint development.
“These new residences are the beginning of a great new and vibrant neighborhood that will enliven East Cambridge,” Davis said.
The 20-story residential high rise at 20 Child Street called “Twenty|20” will be just north of the Gilmore Bridge and will have forty-one units below market price. The building will have a mix of studio to three-bedroom apartments, along with a fitness room, gathering rooms, roof deck, security and concierge service.
A pedestrian connection will link the street level and parks of NorthPoint, including a completed 11-acre park, with the Gilmore Bridge and the nearby Community College Station on the MBTA’s Orange Line.
The MBTA is also planning to relocate Lechmere Station from its current spot adjacent to the North Point development to a new facility across Monsignor O’Brien Highway.