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Union Square
Union Square
Union Square is a transit-oriented redevelopment plan that is the culmination of many years of community conversation, planning, and infrastructure improvements.
The multi-phase project will add 1,000 residential units, 1.5M SF of lab/office space, and 140 SF of retail space to the neighborhood.
The first phase of the project (D2) is located at the intersection of Somerville Ave and Prospect St. The two buildings consist of 194,000 SF of office/lab and 450 residential units with approximately 22,000 SF of retail on the ground floor. The project is adjacent to the newly opened Union Square MBTA Green Line Station. The extension of the public transit system is expected to add more foot traffic and daytime population to the area.
SNAPSHOT
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Client : Union Square Station Associates
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Neighborhood : Union Square
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Address : 10-50 Prospect Street, Somerville MA 02143
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Building Type(s) : Residential, Office, Lab, Retail
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Total Project Square Footage : 2.4M SF
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Desired Uses : Food + Beverage, Pharmacy, Fitness, Soft Goods, Neighborhood Amenities + Services
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Status : Now Leasing!
SCOPE OF WORK
Update the compelling and executable retail narrative, grounded in current market realities, existing conditions in and around the Project, relocation opportunities, and a corresponding vision for the activation of the Project’s open spaces
Ground-floor planning with particular attention to creating a plan of compatible and synergistic uses with the (i) surrounding neighborhood context, (ii) the adjacent office and lab uses, (iii) the public realm and common areas within the Project, and (iv) updated phasing for the Project
Draft merchandising plan, which included a ground floor use plan and a corresponding approach for talking about the retail portions of the Project with both internal and external audiences
Inform and assist Client’s preliminary underwriting of the ground-floor portions of the Project by advising on expected leasing/licensing parameters, including rent, Tenant Improvement Allowances, term, etc.
Support Client in creating an executable strategy around diversity, equity and inclusion for its retail program, with a particular focus on implementing a set of transactional norms (beyond just economics) and Project commitments that facilitate tenancies and partnerships with WMBE+ owned businesses
CHALLENGES
- Special Permit requirements for businesses with more than 9 locations or over 10,000 SF – encouraging local, independent businesses who are relocating or expanding to find space at the project
- Zoning restrictions for masterplan + ACE requirement
TENANT PLACEMENT
