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Boston Business Journal
May 19, 2005
Leggat McCall Properties LLC and ING Real Estate Development staged a groundbreaking ceremony on Thursday, marking the official start of construction at One First St. in East Cambridge where 35 percent of the units are pre-sold.
The 196-unit condominium project is one of the largest residential developments in Boston and Cambridge in five years. The site spans a city block and when complete, will transform the area, formerly home to the New England Confectionery Co. The first units will be available next summer.
"Today's groundbreaking is a major milestone for everyone involved in the One First Development," said Mahmood Malihi, executive vice president of Leggat McCall Properties, in a statement. "It not only celebrates the start of one of the most exciting developments in the area in years, but it also recognizes the hard work of a lot of people to get it to this point."
The site is bordered by First, Cambridge, Second and Otis streets directly across from the Lechmere Green Line T stop in the heart of East Cambridge, One First is a joint venture between Leggat McCall Properties and Washington, D.C.-based ING Real Estate Development.
The 1.5-acre, five-building, 196-unit development is 295,793 gross square feet, including more than 9,000 square feet of street-level retail space. The units are priced from $400,000 to more than $1 million. The 196 state-of-the-art residential units -- 66 one-bedroom units, 121 two-bedroom units and 9 three-bedroom units -- will come with one underground parking space.
One First is being financed by ING Real Estate Finance. The project's architect is Boston-based Elkus Manfredi. The general contractor is Boston-based John Moriarty & Associates. Boston-based McNamara/Salvia, Inc. is providing structural engineering services. AHA Consulting Engineers will be responsible for the energy efficient mechanical design.