Malden, MA – Quaker Lane Capital, a real estate development, investment, and advisory services company and certified minority business enterprise, along with Turnbridge Equities, a vertically integrated real estate investment firm, announced they have received Special Permit approval from Malden’s City Council for their newest project, 11 Dartmouth Street.
In 2019, Quaker Lane and Turnbridge Equities acquired both the 11 Dartmouth Street property and parcel along with 21 Pleasant Street, also known as the Granada Building, in the city of Malden, a designated Massachusetts gateway city. Located in an opportunity zone, the partnership envisions the 11 Dartmouth Street property as an ideal location for a Class A, mixed-use property with potential for life sciences in the core of the city’s central business district, just steps to a multi-modal subway, commuter rail, and bus hub within minutes to Downtown Boston and Cambridge.
Quaker Lane enlisted Gensler as the architect to provide the concept design for the 9-story project which is slated to be Malden Center’s first LEED-certified office building targeted at innovation-driven tenants, including public and private sector organizations as well as entrepreneurial and research and development focused firms.
Influenced by community feedback, Quaker Lane decreased the building 25% from its original proposed height, while also increasing parking significantly for a total of 145 spaces. The estimated completion date for 11 Dartmouth Street is as early as 2023.