Development Plan and Business Outline for Historical Redevelopment in the City of Cambridge
by Francesca B. Cooke and James R. Scott
Thesis Advisor: Andrea M. Chegut, Research Scientist, Center for Real Estate
This thesis explores the redevelopment potential of a historically landmarked church building in Cambridge, MA. The building is in a rapidly developing area in constant need of new housing. The proposal is bound by the constraints mandated by the building’s historical designation, a ground lease payment to its owner, and a new chapel to serve the local community. The development plan must be sensitive to a number of stakeholder concerns, which are addressed through conscious design interventions, programmatic elements, and stress-tested financial projections. This document is divided amongst market and site context, a program and design outline, and a financial proposal reflecting nuanced market assumptions. It is prepared from the perspective of the developer / general partner. The thesis concludes with the overall feasibility of redevelopment on the site and demonstrates why the authors and their vision are uniquely suited for this redevelopment.