Federal Realty Investment Trust Assembly Row Somerville, MA
Representation of Federal Realty Investment Trust (FRIT) in connection with the development of Assembly Row in Somerville, Massachusetts. This partially completed mixed-use project is composed of multiple parcels and entitled for up to 2,100 residential units, 1.75 million square feet of commercial space, 512,000 square feet of retail, restaurant and cinema space and a 200-room hotel. In addition, the project includes construction of a bus and light rail mass transit station. Goulston & Storrs provided counsel in connection with structuring a series of transactions with AvalonBay for the latter to develop the first two parcels. Both will include ground floor retail space and multifamily residential rental units above. This project also included Brownfields redevelopment, condominium ownership structuring, improvements to state owned parks, REIT tax and other compliance issues and retail leasing.