Preston Springs hotel site in Cambridge selling for almost $13M
Posted May 25, 2026 04:18:32 AM.
Last Updated May 25, 2026 10:01:03 AM.
Anyone with about $13,000,000 to spare can own a piece of Cambridge history and get a significant piece of real estate at the same time.
The site of the former and historic Preston Springs hotel, at 102 Fountain St. S. and King Street East, is now for sale.
A listing from CBRE says the sale includes the original site and the nearby addresses, Fountain Street North, and behind the site at 199 Abraham St.
The listing says the property is already “an OLT-approved high-density development opportunity,” with a trio of towers already designed to be built.
Those towers are 17, 20, and 22 storeys tall, offering up to 635 residential units.
The listing highlights the site’s proximity to shopping in downtown Preston and the Cambridge Smart Centre, and the Costco nearby on King.
Its proximity to institutions like Conestoga College and Cambridge Memorial Hospital, and to employers like Amazon and Toyota.
And the listing focuses on the coming ION light rail service, calling the property a “transit-oriented location with future LRT access.”
The exact asking price for the 2.83-acre site is $12,975,000.
The original Preston Springs hotel fell into disrepair and decay and had to be demolished.
