Tourbineau Real Estate Partners Plans Major Office-to-Residential Conversion in Cambridge

Seattle-based Tourbineau Real Estate Partners has initiated its first major project in the Boston area, acquiring an eight-story office building at 955 Massachusetts Avenue in Cambridge for $25M. The firm plans to convert the 93,000 square-foot property into 125 to 150 residential units, marking one of Cambridge's initial large-scale office-to-housing conversions. The building, previously owned by Intercontinental Real Estate Corp., was reportedly 20% leased with tenant agreements nearing expiration.

This project signals a growing trend of adaptive reuse in the region, as developers seek to transform underperforming commercial assets into much-needed housing. Another notable conversion in Cambridge includes Alexandria Real Estate Equities' proposed 31-unit residential conversion at 161 First Street. In Boston, similar initiatives are underway, such as Dinosaur Capital Partners and Mugar Enterprises securing a $44M construction loan for a 110-unit conversion at 31 Milk Street, and Kendall Capital planning a 155-unit conversion at 133 Federal Street. These projects highlight a strategic shift to address housing demand by repurposing existing office stock.