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Bulfinch east cambridge courthouse 06 22-12
- 1. Investment Real Estate East Cambridge Courthouse 40 Thorndike Street Cambridge, MA June 18, 2012 Community Overview
- 2. About Bulfinch • Founded in 1936 by Samuel Poorvu, “The Post Office King of America” • Third generation real estate business: • Eric Schlager, CEO • Robert Schlager, President • Commercial real estate development, acquisition, investment & management • Primary focus on office, medical office, biotech & R&D • Value Creation through renovation, repositioning, development & market timing • Bulfinch has developed, acquired, and repositioned in excess of $1 billion of commercial real estate Investment Real Estate
- 3. About Bulfinch • Long term ownership of quality commercial real estate assets • Build to own • Long history in Cambridge dating back to the early 1950’s • Active developer of more than 1 million SF of Cambridge development & acquisitions • Recipient of Certificate of Preservation Merit from City of Cambridge • Recipient of Go Green Award from City of Cambridge • 2007 NAIOP Developer of the Year award recipient • Member of U.S. Green Building Council Investment Real Estate
- 5. East Cambridge Courthouse Proposal • Proposing a much less intense use than a 24/7 residential redevelopment • Approximately 500,000 square feet of office and retail use • Approximately 400 parking spaces • Local developer with long history of working successfully with community Investment Real Estate
- 6. Responsive to Community Needs • Guided by findings of Cambridge Community Development Survey • Activate the streetscape: • Hub bikeway • Restaurants • Pharmacy • Small businesses • Ground-floor community center for residents and tenants • Mitigate community concerns over asbestos, wind tunnel effect, and night lighting Investment Real Estate
- 7. Additional Community Features • Commitment to sustainable building practices • Building will be state-of-the-art with LEED-certified energy efficiency • Union construction • Extensive new landscaping, pedestrian benches, gathering spaces and sidewalk and other pedestrian improvements • Coordination of pedestrian, vehicular, and bicycle circulation, upgrading of roadway improvements for improved convenience and safety • Paid internships to no less than 25 students • Priority to Cambridge residents • Offering practical work experience in construction, real estate, architecture & brokerage Investment Real Estate
- 8. Cambridge Courthouse – Office & Retail
- 9. Cambridge Courthouse – Office & Retail
- 10. Cambridge Courthouse – Office & Retail
- 11. The Bulfinch Edge • Successful 76-year history as real estate investor/developer/manager • Long-term commitment to Cambridge • Successful track record of landlord/tenant/community partnerships • Known for respectful development that enhances neighborhoods • Office/retail use that fits with community needs and desires Investment Real Estate