by Ben Goldfarb
As the market continues to evolve in response to the challenges of the ongoing COVID pandemic, affordable housing, labor, and supply shortages, as well as the intense demand for industrial and life science facilities, Nauset Construction finds itself diversifying its project portfolio while expanding upon its core competencies.
Market Dynamics
In recent years, Nauset has seen its focus shift toward multifamily/mixed-use construction – particularly, technically challenging, transit-oriented developments in urban locations – while also completing and breaking ground for office, hotel, and senior living projects.
Over the past year, Nauset delivered four transit-oriented, multi-unit residential communities including The Bradford in Belmont consisting of 112 apartments and 38,000sf of retail space for Toll Brothers Apartment Living. Nauset also started new mixed-use residential communities in East Boston, Somerville, and Brookline.
Looking Forward
Heading into 2022, Nauset will continue to cement its reputation as a quality contractor of mixed-use residential projects from the North Shore to Boston and along the I-495 Belt and beyond, including a pair of developments in Somerville (60 and 90 units), a 50-unit development in Alewife/Cambridge, and a 150-unit development in Lynn.
The Bradford / Photo by Nauset Construction
Nauset will also remain focused on all areas of senior living and care from independent living to skilled nursing with plans to deliver to market The Cordwainer, a 50,000sf assisted living memory care community in Norwell. Construction will also be progressing in Littleton for a new 55+ cohousing community. Additional projects, especially in memory care, are being teed up in the coming months to meet the demand for senior living options driven by the aging baby boomer population, good news for experienced senior living construction managers like Nauset that understand the industry requirements and nuances involved, particularly in occupied environments.
Life Science Impact on CRE
As demand for life science facilities in Massachusetts continues to grow, Nauset has been working to position itself to meet these rising needs. A report commissioned by Nauset through Babson’s F.W. Olin Graduate School of Business indicated that, in addition to the construction of the life science facilities themselves, a ripple effect of additional opportunities is created, including housing, retail, and hospitality construction to support the life science industry. Nauset is already experiencing these effects, having recently completed two renovation projects in Kendall Square in Cambridge, the epicenter of the life sciences industry, including a commercial technology building and a luxury high-rise apartment building.
Evolving Wheelhouse
2022 will be a dynamic year for Nauset. It will continue to adapt as we transition to a post-pandemic era with continued strong activity anticipated in multifamily/mixed-use, senior living, life science, medical, academic, and the various ancillary industries that support these key drivers of our local economy. Along with this continued market sector diversification, Nauset is also exploring opportunities to expand beyond its current New England geographic reach with new and existing partners.
Ben Goldfarb
Ben Goldfarb is vice president of Nauset Construction.
