O'Connor Capital Partners is gearing up to finish phase two of its Atmark Apartment community in the city's Fresh Pond neighborhood. The company delivered phase one of the development in November—including 260 studio, one- and two-bedroom units, which have already lured residents to the chic, five-story building. More than half of those units are already occupied.
Phase two construction will open the doors to another 168 apartments this summer, bringing the total to 428.
The $117 million, 589,428 s/f development is one of New York-based O'Connor Capital's major projects in the Boston area. It's also among the first, new, major multifamily projects in Cambridge since 2007.
"We're excited to have delivered such a successful luxury apartment community to Cambridge, and we're thrilled with the response we're getting from residents and the city, alike," said Brian Fallon, partner at O'Connor Capital. The firm has more than 30 years experience with such projects as Atmark. On behalf of various investment funds, institutional clients and its own account, the privately-held company has acquired or developed more than $25 billion of property.
According to Fallon, the project owes its early success to fastidious planning, a host of high-end building amenities, and remarkably reasonable prices. The units, ranging in size from 569 to 1,297 s/f, rent for an average of $3 per s/f—a bargain compared with downtown rentals at double the price.

Residents do get a lot for their money at Atmark, starting with a coveted location, situated between the Fresh Pond Reservation, on one side, and the Alewife Red Line MBTA Station and Minuteman Bikeway, on the other. Cafes, shops, restaurants are all within walking distance. Parking isn't a problem either. Atmark touts an onsite, covered parking garage with 402 spaces (electric car charging stations, too).
Other shared amenities include an indoor-outdoor Sky Lounge with a bar, fireplace and picturesque views and an outdoor, solar-heated swimming pool with a terrace and private, poolside cabanas. Residents also have access to a 24-hour concierge, a landscaped courtyard, theater, game room, bocce court, yoga studio and fitness center—even a fenced-in Bark Park and Pet Washing Station for four-legged residents, making Atmark the most dog-friendly apartments in Boston.
Inside, the apartments feature open floor plans with six-foot windows, 10-foot ceilings, maple floors, chef-grade kitchens with granite countertops, islands and stainless appliances, spa-inspired bathrooms and roomy walk-in closets.
Geared to the area's young "innovation workforce," Atmark Apartments not only offer an upscale lifestyle, but also a responsible environmental conscience. The project serves as a model of sustainability, including the pursuit of LEED Silver Certification, Energy Star rating and compliance with the Stretch Energy Code.
O'Connor Capital Partners: Owners/developers
Cabot, Cabot & Forbes: Development manager
Leggat McCall Properties: Development manager
The Bozzuto Group: property manager
Cube 3 Studio: Architect
Plumb House: Construction manager
Haley & Aldrich: Environmental engineer