So, this past week, it was discovered that the $1 billion (that’s billion) NorthPoint development was in trouble.
Basically, from what I’ve read in the press, it goes like this: the majority owner of the land on which the project would be built is suing the minority owner, as well as the real estate company managing development, construction, and leasing of the project.
NorthPoint, if completely developed, would encompass 2.2 million square feet of commercial and retail space, about 2,500 residential units, and garage space for 5,000 vehicles. The property straddles Somerville, Cambridge, and Boston near the Lechmere Green Line subway station. A new station was to be built, as well, leading on to an extended Green Line to Medford.
So far, only the two of over twenty proposed buildings have broken ground; the first of these is scheduled for completion this June and the other at the end of the year.
Here is the project as originally proposed:
– click to enlarge image
Here are the “unofficial” plans for the space, revised slightly.
– click to enlarge image
More: Partners’ row may threaten project – By Thomas C. Palmer Jr., The Boston Globe
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