Banker & Tradesman | By Steve Adams
October 7, 2016
A new development proposal for Somerville’s Assembly Square would target biotech tenants with an 18-story, 480,000-square-foot office and lab tower as part of a 1.9-million-square-foot mixed-use project.
Somerville Office Assoc. LP, an affiliate of New York-based R.D. Management, hopes to kick off The Office and Research Center + The Residences at Assembly next spring with a 188-room hotel and 147-unit apartment tower.
The 9-acre site on Mystic Avenue, Middlesex Avenue and Revolution Drive is occupied by a 195,000-square-foot office building and surface parking.
R.D. Management said it’s contracted with an unnamed hotel developer that is ready to begin design and construction of the 5-story hotel, according to an environmental notification form filed with the state Executive Office of Energy and Environmental Affairs. The first phase, called “Block 21,” also would include a 15-story, 159,000-square-foot apartment building.
The following phase “will dramatically increase the site’s density” with a 240-foot-tall, 774,000-square-foot tower containing
ground floor retail, a 4-story parking garage and 13 floors of office and biotech space fronting on Middlesex Avenue.