US2 begins preleasing at Prospect Union Square - a new 450-unit residential community in Somerville, MA
This post was published on 6/2/2023 on nerej.com
Somerville, MA According to US2, a joint venture between Magellan Development, RAS Development LLC, Cypress Equity Investments, and Affinius Capital, apartments will begin preleasing at Prospect Union Square, a new, 450-unit residential community comprised of a mid-rise building and 25-story tower located within the USQ development. Managed by Bozzuto, Prospect Union Square’s first residents will be welcomed in July, placing them in Union Sq. with access to the new MBTA Union Sq. Green Line station.
Located at 20-50 Prospect St., Prospect Union Square represents a new class of housing to hit the market in the city. Complementing and rising above the city’s traditional triple-decker inventory, the Höweler + Yoon-designed community offers upscale accommodations and amenities within the historic neighborhood. Residents will step outside to find food and beverage options, live music, community events, farmers’ markets, a culture of exploration and innovation, and more within walking distance.
“All of us at Prospect Union Square couldn’t be more excited to welcome the first residents this summer,” said Ryan Gaffney, general manager of Prospect Union Square. “Our building offers a contemporary and refined style of living unparalleled in this thriving neighborhood, with easy Green Line access to North Station and beyond. We look forward to bringing a new energy to the community and helping introduce its newest residents to all this area has to offer.”
Community amenities are highlighted by an outdoor pool terrace with daybeds and chaise loungers, an outdoor lounge with firepits, and dining spaces with grills. The building also offers a secured package room, fitness center with spin bikes, free weights and weight machines, yoga studio, and private training rooms. Additional amenities include a business lounge with private work rooms, community dining space, billiards and game tables, a lounge with fireplace, and bike storage. The building is pet-friendly and features an interior dog run to keep animals active regardless of the weather as well as a pet wash station. Parking is available on site.
Apartment homes at Prospect Union Square feature several high-end appliances and finishes including: Vinyl woodgrain flooring, quartz countertops, tile backsplash, walk-in showers, Latch keyless entry, programmable thermostats, floor-to-ceiling windows, stainless steel appliances, electric range and oven, in-unit washer and dryer. Prospect Union Square is outfitted with high-speed internet access for residents’ convenience.
With environmental stewardship in mind, Prospect Union Square will achieve LEED Gold certification and 100% of the building’s energy needs will be supplied by renewable energy sources for at least a decade. The building’s integration into the surrounding area is reinforced by newly created public spaces including Union Square Station Plaza. Featuring over 18,500 s/f of new open space – with landscaping, outdoor seating, public art – along with ground-floor retail spaces that will define the project’s “front door,” serving to connect residents with the neighborhood beyond.
Prospect Union Square consists of 450 units (155 studio, 184 one-bedroom, 96 two-bedroom, and 15 three-bedroom apartments), including 90 permanently affordable units. More than 75 units will be delivered in the initial phase, with the remaining homes, including all affordable units, and amenities to follow over the next eight months. Prospective residents can visit the US2 office at 31 Union Sq. to learn more about living at Prospect Union Square.
The USQ development includes 1.4 million s/f of new lab/office space; 1,000 residences, including 200 permanently affordable units; four acres of parks and open space; 12 new, multi-purpose civic open spaces, including three neighborhood parks; 140,000 s/f of retail; 112,000 s/f of arts and creative space; and 175 hotel rooms.