In summer 2008, Concord Square was retained by Federal Realty Investment Trust to lead the preparation of an application for public infrastructure financing for the 5 million sf Assembly on the Mystic development in Somerville, MA through the innovative “I-Cubed” statute in Massachusetts. During the course of the next year, Concord Square worked with Federal Realty and its financial consultant W-ZHA (based in Marblehead) to prepare a comprehensive financing proposal.

In July 2009, during a press conference on site attended by Governor Patrick, Senator Kerry, Congressman Capuano and others, the project was preliminarily awarded $50 million in I-Cubed funding in addition to $15 million in Federal Stimulus funding. Concord Square will continue its work on behalf of Federal Realty through the final approval process.