Cambridge, MA – Healthpeak Properties, Inc. and global real estate investment firm Hines have announced a long-term strategic partnership to develop the residential portion of Cambridge Point, a 40-acre master-planned district in Cambridge’s Alewife neighborhood.
Healthpeak (NYSE: DOC), a leading real estate owner and developer focused on healthcare discovery and delivery, will serve as master developer for the project. Hines will lead the residential development, capitalizing the housing components with its partners. Construction on the first residential building is expected to begin within 12 months after receiving entitlements, anticipated in the second half of 2026.
Located adjacent to the Alewife MBTA Rapid Transit Rail Station, Cambridge Point is designed as a mixed-use, pedestrian-friendly district with the potential for up to five million square feet of development. Plans call for a mix of multifamily residential units, research and lab space, ground-floor neighborhood retail, and community-oriented amenities. The development will feature walkable retail corridors, extensive green spaces connecting Fresh Pond to Alewife Brook Reservation, and infrastructure upgrades, including a pedestrian bridge linking directly to the MBTA Red Line with access to Kendall Square and downtown Boston.
“We are thrilled to welcome Hines as a key partner in realizing our long-term vision for Cambridge Point,” said Kelvin Moses, Healthpeak’s Chief Financial Officer. “Hines’ expertise in delivering mixed-use communities aligns with our mission of advancing health and innovation while creating positive community impact.”
Hines, which has been active in the Greater Boston market for over four decades, brings extensive experience in multifamily and mixed-use development. Its local portfolio includes the South Station Tower project and other residential and industrial assets totaling nearly $3 billion in value.
“Having worked in Alewife before, we’re excited to partner with Healthpeak to help shape the future of this community,” said Sarah Hawkins, Senior Managing Director and head of Hines’ U.S. East region. “We aim to deliver housing that reflects Cambridge’s values—integrating innovation, thoughtful design, and a strong sense of place.”
Cambridge Point represents one of the last large-scale development opportunities in the city. It builds on Healthpeak’s position as the largest commercial property owner in West Cambridge and is intended to serve as a new gateway to Greater Boston’s life sciences hub. The project will be developed in phases and include over seven acres of public open space, streetscape improvements, retail corridors, and sustainable building strategies aligned with Healthpeak’s corporate responsibility commitments.
“Cambridge Point is about creating a place where people can live, connect, innovate, and thrive,” added Scott Bohn, Chief Development Officer and Head of Lab at Healthpeak. “Our collaboration with Hines allows us to contribute meaningfully to the neighborhood while supporting Cambridge’s role as a global center for innovation and discovery.”
