CAMBRIDGE — President of Fairchild Properties LLC Charlie Fairchild announced on Saturday plans to build around 300 homes in Cambridge. The development will be called The Tides at Rivermarsh, and will be on the site of the Hyatt Resort.
“We’ve contracted and we’re closing on the lots,” Mr. Fairchild said. Initial plans are calling for 275-300 or more single-family, townhouses and villas on the site.
He made the announcement Saturday at the Dorchester Chamber of Commerce’s 100th anniversary celebration at Sailwinds Park. Among the local, state and federal officials at the event was County Council Member Lenny Pfeffer (District 4).
As he discussed economic development, Mr. Pfeffer said, “I don’t want to increase taxes, I want to increase the tax base.”
With 50 of the single-family and 80 of the other homes already committed, sales there would mean a more productive tax base for the city and county. Mr. Fairchild said the early commitments mean the project is off to “a great start, great start.”
Other Fairchild Properties jobs are nearing completion. State government offices will open in two to three weeks in the old Metro building at Dorchester Square, with Advance Auto Parts on the same lot set to open its doors on Oct. 9.
The freestanding medical facility at Cambridge Marketplace, also one of Fairchild’s projects, is scheduled to open this month.
As for The Tides at Rivermarsh, Mr. Fairchild said workers would being grading for the lots on Nov. 15, with a Dec. 15 target date to start building.