The most closely watched component of Healthpeak’s mixed-use development in the Alewife Quadrangle is a bridge connecting it to the nearby Alewife MBTA station. That bridge will require a long vigil, up to 15 years, according to the initial development plan that will be reviewed by the planning board April 28.
The plan ties the bridge to significant commercial development, in a project already subject to uncertain market conditions. Healthpeak says it will transform 42 acres of formerly industrial properties into “a dynamic, mixed-use, transit-oriented community” well-connected to the greater Cambridge area. Over time, it will add roughly five million square feet of housing, retail, commercial and community space. And a bridge to Alewife station is a key feature for local residents.
Commuter railroad tracks separate the Quad from the Alewife Triangle and Red Line station to the north. The bridge will link them, giving both pedestrians and bicycles a direct crossing that should cut walking time to the station by five to seven minutes, depending on a person’s location. The bridge will be accessible by stairs and ADA-compliant ramps.
But the bridge is not currently part of the initial phase of work for the project, whose construction is expected to span 20 to 30 years in two distinct phases. Zoning requires that construction of the bridge commence by the time up to half of the commercial square footage is built. Healthpeak plans to complete that commercial development in the initial phase, leaving the bridge to the second phase of the project.
Many community members want to see the bridge built more quickly, said Doug Brown, an officer of the Fresh Pond Residents Alliance. “We felt that the bridge should be built first, before anything is done, because why would you introduce a whole bunch of new commuters or new residents to the area without having that in place? That becomes problematic, because the traffic increases, and new residents can’t get anywhere.”
At a Feb. 24 pre-application meeting, Anthony Galluccio, former Cambridge mayor and an attorney for Healthpeak, said the bridge was a priority for the company. “We have an incredible amount of pressure on us to deliver the bridge because the zoning stops our commercial development if we don’t. We hit a dead stop if we don’t deliver the bridge. So we’re taking that challenge on as essential.”
A 10- to 15-year wait
As things stand, though, the 10 to 15-year first phase of the neighborhood development will include nearly half of the office, lab, and residential space, over 2,000 parking spaces, approximately 18,500 square feet of “new vibrant neighborhood uses,” a parcel of land for the city’s public works department, approximately 6 acres of open space, and right of way improvements.
The pedestrian and bicycle bridge and a minimum of 57,140 square feet of neighborhood uses, which will be more clearly defined at the upcoming meeting, are included in the second phase, along with the remainder of office, lab, and residential buildings, open space, and parking.
The timing of both project phases and whether buildings are constructed simultaneously or sequentially is dependent on a variety of factors, including “market conditions, zoning requirements, and the requirements of the overall development,” the plan says. Leases on a majority of development sites in the second phase prevent construction until 2040.
Brown said it was unclear what obstacles might delay the bridge. “We know that they’ve had discussions with the T, but I don’t really have a lot of transparency,” Brown said. “Has the T said yes? Have designs that could be built been developed? Has a cost estimate been created? We don’t really have any idea where that whole process sits. It’s one of these things where you feel like conversations have been had, but again, the community has not been privy to them.”
The MBTA is supportive of “transit-oriented development,” a staff member told Cambridge Day over email. The agency “welcomes new ideas from communities, businesses, and other stakeholders which improve access to housing, transportation, and economic growth across the region.”
Challenging conditions
At the February meeting, the development team acknowledged economic factors and market conditions that could leave some phasing and construction details uncertain. “It’s very much a challenging financial environment,” Healthpeak attorney James Rafferty said. “I shouldn’t understate the impact the economy will have.” The application document notes that commercial and residential buildings will move on independent timelines “given market dynamics and constraints.” Rafferty anticipates that the early development will likely be residential, he said at the meeting.
Brown, who was part of the Alewife Zoning Working Group that provided rezoning recommendations and comments to the city between 2022 and 2023, has some concerns about the phasing for a planned unit development of this scale. “We don’t really know how it will all unfold and why that’s a concern is that planned unit developments have a history in the city of just going on forever,” he said in a phone interview.
“In addition to the PUD master plan, and laying it out in great detail, I would also like them to see what they can do under the current environment,” Brown said. “I don’t necessarily need to know when the very last building is going to be built. However, I would like to know what they can do right now, and what they are planning to do right now, so that we can start to see progress.”
Market uncertainty
Lab vacancies in the Commonwealth rose to nearly 29% last year, according to a report by commercial real estate firm Hunneman. The report notes that other than Healthpeak’s development, “investor interest in speculative lab product has plummeted as a result of lowered tenant demand, high vacancy rates, and increases in the costs of construction and capital.”
“During and immediately following the pandemic, life science vacancy rates were extremely low, and there were millions of square feet of tenant demand,” Mark Fallon, Hunneman’s director of research and strategy, said in a phone interview. That demand led to a lot of life science space being built, with developers seeing a lack of supply and an opportunity for high rents. “Unfortunately, with the increase in interest rates and borrowing costs and also the constrained macroeconomic environment, the demand really dissipated pretty severely, which has led us to our current state.”
Healthpeak will have to consider cost of capital, cost of labor, cost of materials, and meeting zoning for sustainability and affordable housing, Fallon said. He noted a “modest” pickup in the commercial market, but far from a return to former booms. “I would imagine that they’re probably targeting the residential development first. There’s no doubt that Cambridge is a highly desirable place to live.” he said of the project. “Healthpeak is an excellent operator, their execution is excellent. It’s certainly not something that they’re going into short-sightedly.”
Next steps
The Cambridge planning board will review the plan in a remote public hearing April 28 at 6:30 p.m. “The planning board will hear comments, deliberate on whether the proposal is generally consistent with area planning, and request modifications and/or additional study,” Assistant City Manager for Community Development Melissa Peters said over email.
After the meeting, Healthpeak will submit a finalized development plan. That will receive an additional public hearing and deliberation before a decision is made to grant a permit for development, Peters said. The development will be subject to conditions over time.
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