A joint venture between affiliates of Magellan Development Group, RAS Development, Cypress Equity Investments and USAA Real Estate has secured construction financing for two monumental projects in the Union Square neighborhood of Somerville, Mass.
Sitting adjacent to the new MBTA Union Square Green Line station, the approximately 194,000-square-foot, state-of-the-art life sciences and lab facility and the adjacent 450-unit residential tower and mid-rise building mark the first phase of the Union Square Revitalization (USQ) master plan, which will eventually deliver nearly 2.4 million square feet of mixed uses to the neighborhood.
Sitting less than a mile from Massachusetts Institute of Technology and Kendall Square, the epicenters of the life science industry, the projects will benefit significantly from their proximity to the world’s most innovative and recognized technology, biotechnology hub. The resulting ecosystem provides one of the most sought-after talent
