BOSTON– DLJ Real Estate Capital Partners (DLJ RECP) in joint venture with Leggat McCall Properties (LMP) recently acquired a 3.1-acre site at 29 Harding Street, immediately adjacent to the 3.5-acre site owned by DLJ/LMP.
The property, which was owned by the Gentle Giant Moving Company, consolidates and expands the venture’s multiphase plan to create a vibrant new neighborhood in Boynton Yards.
The master plan will be consistent with Somerville’s city-wide Zoning Overhaul and the Union Square Neighborhood Plan, of which Boynton Yards is a key component. DLJ/LMP are planning to deliver a mixed-use community totaling over 1 million SF, including tech and life sciences focused commercial spaces, multifamily housing, neighborhood retail, and considerable community open space.
DLJ worked with Gentle Giant for well over two years to find a suitable relocation property for its business that met its long term operational and financial requirements. Gentle Giant eventually selected a property in Winchester for its corporate office and storage facility as well as a site in Charlestown.
“Acquiring the Gentle Giant site is a critical milestone in our plan or transform Boynton Yards from an isolated underutilized industrial area into a vital work-live-play neighborhood,” said John Fenton. “After a lengthy collaboration effort, both parties are pleased to have arrived at a solution that is a significant win for all.”
Located within one mile of Kendall Square, 29 Harding Street borders the forthcoming MBTA Green Line station at Union Square. It is immediately adjacent to 101 South Street, a 289,000 SF lab building that is currently under construction. 101 South Street is expected to deliver in mid-2021 and will kickstart the initial phases of the Boynton Yards mixed-use development project.
A ceremonial event to officially launch the project will be held this fall.