Healthpeak-Hines Cambridge Point Development Partnership.
Healthpeak Properties, Inc., a preeminent owner, operator, and developer specializing in real estate for the healthcare discovery and delivery sectors, and Hines, a globally recognized real estate investment manager with a distinguished track record, today announced a significant long-term partnership. This collaboration will focus on the development of the residential components within Healthpeak’s expansive Cambridge Point master-planned district, strategically located in the burgeoning Alewife neighborhood of Cambridge, Massachusetts.
Under the terms of this alliance, Hines will assume the lead role in the residential development aspects of the Cambridge Point project, working in close coordination with Healthpeak, who will serve as the master developer for the entire 40-acre site. Hines, along with its capital partners, will be responsible for the capitalization of the various residential phases. The partnership anticipates commencing construction on the inaugural residential building within the first twelve months following the receipt of necessary entitlements, which are currently projected to be secured in the latter half of 2026.
Cambridge Point, a strategically positioned 40-acre master plan, boasts a remarkable total development potential of up to five million square feet. Its prime location adjacent to the Massachusetts Bay Transportation Authority (MBTA) Rapid Transit Rail Station in the Alewife neighborhood offers unparalleled connectivity. The comprehensive project envisions a vibrant, mixed-use environment encompassing a diverse range of uses, including thoughtfully designed multifamily residential units, cutting-edge research and laboratory facilities, and community-oriented ground-floor neighborhood retail spaces.
The overarching design of Cambridge Point emphasizes a pedestrian-friendly environment. A key feature will be a highly walkable retail corridor, fostering a dynamic and engaging streetscape. The master plan also incorporates an extensive network of green open spaces, seamlessly connecting the natural beauty of Fresh Pond and the Alewife Brook Reservation, providing residents and the wider community with accessible recreational areas. Furthermore, the development includes publicly beneficial infrastructure improvements, most notably a pedestrian bridge. This crucial infrastructure element will directly link the Cambridge Point community to the MBTA red line station, offering a swift and convenient commute to the Kendall Square innovation hub and South Station transportation center.
Kelvin Moses, Chief Financial Officer of Healthpeak, expressed his enthusiasm for this strategic partnership, stating, “We are thrilled to welcome Hines as a key partner in realizing our long-term vision for Cambridge Point. Hines’ reputation of delivering exceptional mixed-use and residential communities in urban centers aligns seamlessly with our commitment to quality and community impact. At Healthpeak, our real estate advances health and innovation—and with approximately 60 million square feet under management nationwide, we’re deepening our investment in Cambridge with a long-term vision of contributing to a vibrant, mixed-use district.”
Sarah Hawkins, Senior Managing Director and head of Hines’ U.S. East market, also commented on the partnership, highlighting Hines’ deep local roots. “Hines has a deep-rooted history in the Boston area, including our work at Fuse Cambridge in Alewife, and we’re proud to partner with Healthpeak to continue shaping the community’s built environment. Our goal is to deliver housing that will integrate innovation, intentional design, and a robust sense of place, reflecting the values of Cambridge for generations.”
Hines brings a wealth of experience and a significant presence in the Greater Boston market, with over 40 years of investment history. Their existing portfolio and active developments in the region amount to nearly $3 billion, including the transformative approximately two million square feet mixed-use South Station Tower project, alongside numerous multifamily and industrial developments. This extensive local expertise positions Hines as an ideal partner for the complex and ambitious Cambridge Point development.
Cambridge Point represents a unique and significant opportunity, recognized as the final large-scale development prospect within the city of Cambridge. It strategically builds upon Healthpeak’s existing substantial footprint in the region, where the company currently stands as the largest commercial property owner in West Cambridge. The district’s unique positioning is poised to establish it as a new and prominent gateway to Greater Boston’s thriving life sciences ecosystem, seamlessly integrating research facilities, residential offerings, and vibrant retail uses into a cohesive, transit-oriented environment.
The master plan for Cambridge Point is envisioned to unfold over multiple phases, reflecting the scale and complexity of the project. A key commitment includes the creation of more than seven acres of publicly beneficial open space, enhancing the quality of life for residents and the surrounding community. The development will also feature significant streetscape improvements, creating a more attractive and pedestrian-friendly environment, active retail corridors that will foster local economic activity, and the implementation of green building strategies, aligning with Healthpeak’s overarching corporate responsibility objectives and commitment to sustainability.
Scott Bohn, Chief Development Officer and Head of Lab at Healthpeak, emphasized the alignment of Cambridge Point with the company’s core values. “Cambridge Point aligns Healthpeak’s core values through community development—it’s about shaping a place where people can live healthy lives, establish connections, innovate, and thrive. Through our collaboration with Hines, we can contribute positively to the neighborhood in ways that reflect the values of the Cambridge community and support its ongoing growth as a global hub for innovation and discovery.”
The partnership between Healthpeak and Hines on the Cambridge Point development signifies a long-term commitment to creating a dynamic and sustainable mixed-use district in a prime location within Cambridge. By combining Healthpeak’s deep understanding of the healthcare and life sciences sectors with Hines’ extensive experience in developing high-quality residential and mixed-use communities, this collaboration is poised to transform the Alewife neighborhood and contribute significantly to the Greater Boston landscape for years to come. The project’s focus on transit-oriented development, green spaces, and community integration underscores a forward-thinking approach to urban development, promising a vibrant and thriving environment for future residents, researchers, and the wider Cambridge community.
