450-Unit Prospect Union Square Welcomes its First Residents

This post was published on 7/18/2023 on bostonrealestatetimes.com

Somerville, MA – US2, a joint venture between Magellan Development, RAS Development LLC, Cypress Equity Investments, and Affinius Capital, announced that the first residents at Prospect Union Square have moved into the new, 450-unit apartment community comprised of a mid-rise building and 25-story tower located within the USQ development.

At the time of the initial move-ins, more than 100 units, representing over half of the available market rate apartments from Phase 1 and 2, have been leased. Managed by Bozzuto, Prospect Union Square sits in the heart of bustling Union Square with access to the new MBTA Union Square Green Line station at the building’s front door.

Located at 50 Prospect Street, Prospect Union Square represents a new class of housing to hit the market in Somerville. The Höweler + Yoon–designed community’s upscale accommodations and attractive amenities, coupled with the historic neighborhood’s irresistible food and beverage options, live music, community events, and farmers’ markets has attracted interest from both local residents and out-of-staters alike. With increased connectivity to major job hubs, educational institutions, and other points of destination, Prospect Union Square is squarely on the radar of working professionals, graduate students, and others seeking the convenience of the Green Line station.

“We are delighted with the positive receptive to Prospect Union Square thus far, with a lot of interest specifically around the MBTA station at our doorstep which makes the neighborhood more accessible than ever before,” said Abby Goodrich, Assistant General Manager of Prospect Union Square. “In my conversations with prospective residents, there is a lot of excitement to live in a new building with modern amenities, like the 24/7 concierge service, in this historic, thriving neighborhood.”

Prospect Union Square’s residents will enjoy the building’s top-of-the-line amenities, many never before seen in Somerville. The impressive array of amenities is highlighted by a state-of-the-art fitness center equipped with row machines, spin bikes, and free weights, an indoor dog run and pet wash station, a secured package room, a business lounge with private work rooms, community dining space, billiards and game tables, a lounge with fireplace, and bike storage. The building also offers an outdoor amenities deck, which is expected to be delivered later in the month featuring a pool deck with daybeds and chaise loungers, an outdoor lounge with firepits, and dining spaces with grills.

Phase 2 of Prospect Union Square is currently available for preleasing and is expected to be delivered in August.