Wakefield, MA Cabot, Cabot & Forbes, and its partner on the project, Equity Residential, have broken ground on its newest project, The Basin, located at 200 Quannapowitt Pkwy. Residents will be able to begin moving into The Basin in 2025.

Located on the town’s Lake Quannapowitt, The Basin will consist of 440 multifamily residential units, including 79 privately subsidized affordable units, and consists of a lakeside walking path, multiple roof decks, over 20,000 s/f of amenity space and a landscape program. Residents will benefit from access to I-95/Rte. 128, as well as a complimentary shuttle service to downtown and the nearby MBTA Commuter Rail. The project also features a 3,600 s/f waterfront restaurant space with an associated 2,000 s/f outdoor patio.

The project is being constructed with sustainable design principles in mind; this includes targeting LEED Gold Certification, 100% electric units, ample electric vehicle and bicycle parking, and native landscape requiring minimal irrigation.

“From the inception of our development concept at 200 Quannapowitt, our goal has been to deliver a best-in-class residential property that celebrates Lake Quannapowitt and the town of Wakefield” said Matt D’Amico, director of development at Cabot, Cabot & Forbes.

A major priority for Cabot, Cabot & Forbes with The Basin is the public benefit that it will create for the town of Wakefield and its residents. As part of this project, Cabot, Cabot & Forbes and Equity Residential are contributing $2.3 million towards the construction of a new roadway and for roadway improvements in the area, $1.3 million to help improve the water quality of Lake Quannapowitt, and will also construct a public safety substation on the property for access by the Wakefield Police Department. 

In addition, more than 12 acres of land surrounding the property will be permanently protected from future development.

“This project is a celebration of the extraordinary collaboration between Cabot, Cabot & Forbes and the town of Wakefield,” said Jay Doherty, CEO of Cabot, Cabot & Forbes.