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neighborhood in Cambridge has been undergoing changes as it prepares for new developments after a year-long construction moratorium. Boylston Properties, a Boston-based company, has its sights set on a 12-story multifamily project at 745 Concord Avenue in the city's Alewife district. The developer has started hosting community meetings as they plan to redevelop the site of an existing one-story office building.

    The area was previously zoned for life science lab development, but after Healthpeak Properties, a lab developer, acquired several properties in quick succession, the Cambridge City Council put a halt on most construction projects in Alewife. Following this, the area was rezoned to encourage a better balance between residential and commercial developments.

    Boylston's project could be one of the first significant ones since the rezoning and the end of the construction ban. The site is near the border of Belmont and is only one mile away from the local MBTA station. The developer is considering building 15 on-site parking spots for the project.

    The decision to halt most construction projects was beneficial for Boylston Properties as they were planning to build a life science building in a challenging market. According to Andrew Copelotti, principal of Boylston Properties, "Thank God the moratorium came along. We'd have a built or half-built life science building in a tough market. Sometimes the projects you don't do are the best ones."

    Boylston plans to file a formal application with the city planning board in the fall. The company doesn't own the site yet; an affiliate of Spinelli Commercial Properties does. The sale of the parcel is contingent on approval for the project. The cost of acquiring the site remains unclear. Copelotti expressed hope that expected interest rate cuts could make construction pricing more reasonable.