195 Canal Street, Malden:
When Combined Properties purchased 195 Canal Street in Malden, the site adjacent to the Malden River was in poor shape, both aesthetically and environmentally. Previously a chemical plant, the old factory site had been contaminated from prior uses and required extensive environmental clean-up.
Combined Properties executed a complete transformation of the once-vacant 4.5 acre Brownfield industrial site into an attractive modern office campus that today houses Cambridge Health Alliance’s (CHA) Malden Family Medicine Center. The medical center is a state-of-the-art primary care facility. Affiliated with Tufts University School of Medicine, more than 30 doctors work onsite and see patients of all ages. The new center was designed as a model practice to use the latest technology to benefit patients.
Combined Properties’s investment in 195 Canal Street is reflected in the city’s assessment of the property’s value, rising from about $2 million prior to redevelopment to almost $10 million today.
To learn more about 195 Canal Street today, please visit Cambridge Health Alliance.