Earning a master’s degree at nearby Harvard University, Paul Ognibene has always viewed Boston as home. He’s proud to lead a company as the CEO of Urban Spaces that is committed to developing real estate that will help the people in Cambridge and surrounding areas live happier lives. Paul Ognibene and his company have accomplished this recently with their work along the First Street Corridor in East Cambridge.

Paul Ognibene and his company identified the area as a location where the natural surroundings were outstanding, but a lot of the properties in the area simply were no longer up to the challenge of housing up and coming businesses, real estate properties and people looking to move to the area. It’s why Urban Spaces set out to complete many different projects to bring state-of-the-art buildings that would offer incredible lodging options, office space ready to house the world’s top tech companies and retail stores that would make any shopper happy.

In order to secure the last piece of the redevelopment puzzle for the area, Paul Ognibene and Urban Spaces needed to secure a loan for $71 million with the People’s United Bank. This is a loan that took several months to get approved as there were many different complexities to the proposed multi-tier building. Ultimately, the strength of the plan for the property and the long working history between the bank and Urban Spaces led to a loan that was secured and will help accomplish great things for East Cambridge.

The last piece of the development puzzle in the area is Kendall East, which is a two-building property that will be utilized to house office space, residential apartments and retail stores. The area is very popular as it’s just a short walk from Kendall Square and the Lechmere MBTA Station. Many locals choose to commute utilizing only public transportation or their bikes in the area, so it was important to create a building that would offer everything these people needed in an office, retail, or residential space.

Paul Ognibene started his grand vision for East Cambridge when he started to notice the trends in the industries of life science and technology in the area. East Cambridge would need to work fast in order to keep some of the brightest minds from local schools and also attract major companies to help make East Cambridge one of the fastest areas of job growth in the state. With every construction project across First Street, Urban Spaces has helped conjure up more interest and more jobs in the area.

During the years that Paul Ognibene has spent working in real estate developing, he has seen many come and go due to the demands of the business. Over time, Ognibene has become intimately aware of the qualities that enable a developer to be successful and at the forefront of the processes associated with the industry. Paul Ognibene recognizes that everyone may not be aware of what qualities set successful real estate developers apart from the pack and includes a list of traits that a capable individual in the industry should possess.

Problem Solving: When developing a project, complications or obstacles can arise at any stage of the process. Paul Ognibene notes that, because there is such a capacity for problems to arise on the job, the ability for a real estate developer to be able to intuitively problem solve is paramount. Developers generally know more of the common obstacles that pop up during the development process such as zoning issues or communicating with adjacent landowners and know that there are a lot of ways to solve them. A quality real estate developer will work to have contingency plans for predicted complications, and they will also have the acumen and experience to deal with ones that come seemingly out of the blue as well.

Decisiveness: Real Estate developers know that time is money when it comes to many things and it is especially true in the real estate world. Even the smallest of timing setbacks in the real estate arena can lead to costly ramifications that effect both the timing of the project and the associated budgets. The ability to be decisive about the way in which the project is managed will help ensure that easy to avoid setbacks do not negatively impact scheduled projects. Working in tandem with the ability to problem solve, a real estate developer must be quick to make quality decisions once they have decided the correct course of action.

Excellent People Skills: Real estate developers that are the most successful invariably have great people skills. A developer can must work with a myriad of different people during the process such as; builders, councilmen, tradespeople, consultants, etc. Meaning, a real estate developer is in constant communication with individuals of all walks of life and with varying personalities. Paul Ognibene consistently attests to the fact that any developer worth their salt will know how to lead a team of people with different skills and backgrounds. The ability to listen to and communicate with an assortment of people is the cornerstone of the leadership responsibility.

Paul Ognibene Urban Spaces CEO is pleased to announce the Peabody Essex Museum’s recent, 40,000- square foot additional wing on September 28^th. The recent expansion is a major component of a $650 million campaign and the result of approximately three years of renovation and construction. The new addition includes; 15,000 square feet worth of gallery space, a school and group tour entryway, an illuminated atrium and 5,000 square feet of gardens carefully designed by Nelson Byrd Woltz Landscape Architects.

The expansion was designed by Ennead with an emphasis placed on visitor engagement, as there has been an observable decline in art museum attendance in recent years. Paul Ognibene Urban Spaces real estate expert notes that, with the rich history of PEM, there is a profound interest in maintaining the relevance of the space with these additions. When inquired about the thought that went into the expansion, deputy director and curator Lynda Hartigan stated that an on-staff neuroscientist was consulted in the interest of assistance with planning. This is because The Peabody Essex Museum had a particular interest in guiding the flow of visitors in order to make sure that, while they could be sure to see all of what the museum has to offer, they would also be able to “have some surprises along the way and some things you can linger with.” These surprises ensure that PEM, the oldest continuously operating museum in the United States, has a few tricks up its sleeve when it comes to keeping visitors happy and intrigued with the scenery.

As much as Paul Ognibene Urban Spaces CEO and Cambridge realtor is interested in the present developments of the museum, he and PEM staff are already looking towards the future and subsequent additions that are underway. Of them, include additions to nearly all the exhibits currently within the museum, as a $16 million project is underway to add new installations by as soon as 2021.

As the CEO of Urban Spaces, Paul Ognibene oversees all aspects of the company. This includes the selection of locations for new real estate developments. This past May, Ognibene gave the green light for the first lease at 85-95 First Street, the company’s most recent project in East Cambridge.

Pet supply retailer, Loyal Companion, formerly known as Especially for Pets, signed a 4,500 SF lease with Urban Spaces at this location. Loyal Companion is the perfect addition to the First Street Corridor, the neighborhood that connects Lechmere Station and Kendall Square. Their tenancy replaces the local Petco which shut its doors in 2018. Petco decided to vacate after the passing of a Cambridge City Council ordinance prohibiting the retail sale of commercially bred animals.

There’s an excitement surrounding the project from locals who are sure to love Loyal Companion, as it offers high-quality pet food and supplies, as well as on-premises grooming, daycare, training and self-wash. “Loyal Companion is an ideal fit for the neighborhood retail mix we’re assembling for the residents and employees of the First Street Corridor, as well as the larger East Cambridge multifamily market,” said Ognibene.

To read more about Urban Spaces and the number of incredible real estate development projects in motion, please visit UrbanSpacesLLC.com