BNP Paribas Financed Cambridge Residential Tower
The bank provided $522 million in financing for a 25-story residential project in Kendall Square.
Updated on Oct. 6, 2026 in Commercial
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BNP Paribas has provided $522 million in mortgage financing for the One65 Main residential tower in Cambridge. The 25-story building is set to provide 300 new apartment units to the local housing market.
Why it matters
The infusion of capital secures the development of a significant residential project in the Kendall Square neighborhood. The tower adds substantial square footage to the local housing stock while utilizing land owned by the Massachusetts Institute of Technology.
The One65 Main tower spans 348,249 square feet of floor space and reaches a height of 25 stories. The site includes 8,000 square feet of retail space and a 14,000-square-foot outdoor terrace.
The players
BNP Paribas
This is a global banking group that provides financial services and mortgage lending for major real estate developments.
Willow Bridge Property Co.
This is a real estate management firm that oversees the daily operations of residential apartment buildings.
Massachusetts Institute of Technology
This is a private research university that holds significant land assets in Cambridge and oversees major development projects.
The details
Willow Bridge Property Co. manages the residential tower, which operates under a ground lease from the Massachusetts Institute of Technology. The project, located at 165 Main St., was originally approved for construction in 2019.
Timeline
2019: Massachusetts Institute of Technology received approval for the project.
2023: Construction began on the nearby 200 Main St. office-lab building.
October 6, 2026: The financing news was reported.
Culture Shift
This development follows the 2019 project approval for One65 Main that set the foundation for residential growth in the district. It reflects a broader trend of institutional landholders in Cambridge partnering with private developers to address housing demand through high-density urban projects.
The project will introduce 300 new apartment units to the Kendall Square area, potentially easing rental supply pressures. Residents can also expect 8,000 square feet of new retail space to become available upon the completion of the tower.
The takeaway
The addition of this tower signals continued growth for residential density in a hub historically dominated by academic and commercial labs. Developers and city planners view such projects as essential to balancing the housing needs of a growing professional population.
Further reading
For more background on real estate development, visit the Cambridge Commercial section.
Source note: This article includes information reported by Banker & Tradesman.
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