In 2008, Harvard University paused construction of its $4 billion Allston development plan in response to the financial crisis. McCall & Almy was hired by the university in 2010 to help explore ways in which development of its 360-acre Allston campus could be resumed. Given the state of the real estate and capital markets at the time, we advised Harvard to pursue a market-rate residential project with ground floor retail on a 2.5-acre site to activate the Barry’s Corner area of Allston.
360 acres (estimated 9 million SF of new building space)
McCall & Almy managed a selection process on behalf of Harvard to identify and ultimately select a qualified developer to enter into a long-term ground lease for the site. The 325-unit residential project called Continuum (Fall 2015 occupancy) will significantly enhance economic activity in the area. McCall & Almy will continue to advise Harvard on the development of other parcels on the Allston campus.