LCOR and DivcoWest Commence Move-Ins at Park 151, CX’s Inaugural Multifamily Building10.24.22
The first residential phase of the overall 4.5 million-square-foot Cambridge Crossing development, Park 151 delivers 468 mixed-income residences, 19,000 square feet of retail space with plans for additional green space to East Cambridge.
Today, LCOR, a fully integrated real estate investment, development, and management firm and DivcoWest, a national and vertically integrated, real estate investment firm announced the commencement of move-ins at Park 151, a highly amenitized, 20-story, 468-unit, mixed-income residential property located at 151 North First Street in East Cambridge, MA, the inaugural residential phase of the 4.5 million-square-foot Cambridge Crossing neighborhood.
“We’re thrilled to be launching move-ins at Park 151 and to begin welcoming residents to their new home at Cambridge Crossing,” said David Sigman, Executive Vice President and Principal at LCOR. “As one of the most desirable submarkets in the country that continues to poise itself for exponential growth, we’re grateful to be able to provide a much-needed housing offering to the East Cambridge community to keep up with its demand and thank our partners for helping to bring Park 151’s vision to fruition.”
“Park 151 embodies the innovative spirit of Cambridge Crossing, and we’re proud to have partnered with LCOR to offer residents a distinctive place to call home,” said DivcoWest Senior Development Executive John Weigel. “This state-of-the-art residential building serves as a prime location for today’s established professionals, offering them unique amenities in a superior location.”
Park 151 features 468 residences ranging in size from studios to three-bedroom apartments, inclusive of 392 market-rate residences, 22 penthouse homes and 54 affordable units with an additional 19,000 square feet of ground-floor retail space. The units include in-unit washers and dryers, panelized appliances with LED downlighting. In addition to the premium features of each individual unit, the building delivers lifestyle-oriented amenities and hotel-like services throughout.
On the third floor, residents can take their work and life outside the home on the pool deck which features an outdoor kitchen, cabanas, and movie screening lounge. Adjacent to the pool deck, residents host an event and entertain in the private kitchen and dining room, sports simulator, indoor lounge, or host meetings in the co-working and micro-office spaces. With wellness in mind, the building also offers a fitness room with indoor and outdoor yoga spaces, a sunset terrace, and plenty of space to store bikes after a ride along the Charles River.
Additionally, Park 151 benefits from its proximity to two MBTA lines with the new Lechmere Green line station one minute away and the Community College Orange line just a quick 7-minute walk. Right outside the front door, cafes, restaurants, and a brewery connect residents to the community through local flavors and restauranteurs. 11 acres of activated open space sits adjacent to the residence, providing unmatched connectivity and the ability to bring the indoors out. The open spaces at CX feature a central 5-acre common with a waterway where concerts and fitness classes are held, outdoor seating in the Picnic Grove and Maria Baldwin Open Space, and a recently opened dog park and half soccer field, with more to come.
Park 151’s neighborhood, Cambridge Crossing, is located at the intersection of Cambridge, Boston, and Somerville, and is part of Kendall Square, one of the most innovative square miles in the country. Featuring one of the most sought-after life science, research, and technology markets (inclusive of Sanofi, Bristol Myers Squibb, Google, and Amazon) and the nation’s leading academic institutions such as Harvard and MIT, Cambridge boasts intellectual work and education avenues, while simultaneously providing top-tier bars, restaurants, arts and cultural offerings.
Park 151 is a joint venture between LCOR and DivcoWest and is part of the 43-acre, 4.5 million square-foot Cambridge Crossing master development plan by DivcoWest. The partnership is dedicated to bringing top quality residences to the dynamic new neighborhood. Cambridge Crossing includes commercial, residential, retail and an abundance of open green spaces. Park 151 is a collaborative product of LCOR’s residential and management expertise, and DivcoWest’s development experience within the local Boston/Cambridge market.
For more information on Park 151 and to schedule a tour of the property, please visit park151.com.
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