Boston's Next Big Thing
When it comes to emerging markets in Boston, TOD is it, Berkeley Investments president Young Park tells us. That's one idea we're excited to discuss at our Boston Emerging Markets event on April 27 at the Westin Waltham.
Berkeley is focused on TOD projects in the urban edge ring of Boston with ready access to rapid transit, says Young, who will be a speaker at the event. The company's current projects are concentrated in Somerville on the edge of Kendall Square and within the GLX Corridor; Sullivan Square in Charlestown; and Malden Center on the Orange Line and selected locations along the Red Line Corridor.
"Other emerging urban edge locations that we feel are attractive include Quincy and other communities on the southern end of the Red Line Corridor, Watertown for its proximity to Cambridge, and Medford along the proposed GLX Corridor," he says. This month, Berkeley acquired the 314k SF 200 Exchange St in Malden, across from the Malden Center T stop.
The company's plan for the property calls for a transformation into a mixed-use featuring 15k SF of urban retail, 70k SF of data center on the ground floor and up to 200k SF of creative office space.
"It's an exceptional TOD location on Orange Line and commuter rail, with direct access to dynamic growth nodes, including Assembly Row, North Station, Haymarket, Downtown Crossing, Tufts Medical, Back Bay, Ruggles-Northeastern," says Young.