New Rental Communities Coming to Cambridge & Somerville

March 29, 2012

I don’t work in rentals, but am frequently asked about them, so try to stay somewhat on top of that end of the business. And what you probably already know is that, just as with sales, we simply don’t have enough inventory. So I’m happy to tell you about two new rental developments–both near Davis–coming to market this year:

Maxwell’s Green (Somerville) — Located under a mile from Davis Square and right next to both the community path and the future (someday!) Lowell Street stop of the Green Line extension, this 5.5 acre residential development, formerly known as MaxPac, is billing itself as “transit oriented.” The nearly 200 units will be a mix of studios and one-, two- and three-bedroom apartments, plus 15 townhouses (which I believe will be sold as condos) and 25 affordable housing units. All will be LEED-certified, and residents will have many amenities including an on-site yoga studio and fitness center, a theater room, a common roof deck and lots of green space. No indication yet of price points, but I’ll be keeping an eye on it.

7 Cameron (Cambridge) — This development is located at the corner of Mass Ave and Cameron, out beyond Porter Square, just a few blocks to Davis. Interestingly, it’s also being marketed as a “transit-oriented” community — I guess this is the catchphrase of the moment! The 37 one- and two-bedroom units here are also designed as LEED-certifiable and seem like they’ll have pretty high-end finishes and come with parking. There will also be community amenities such as a common roof deck and fitness room. A rep for the developer told me rents would likely start around $1,750 for one-bedroom units and around $2500 for two-bedrooms.

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