NEMA Boston Reaches Final Stages of Construction
With an expected opening in just a few months construction is in its final stages for NEMA Boston in the Seaport. Exterior work is nearly complete with all windows and facade in place except for those areas around the hoist crane. The project will feature apartments ranging in size from 375 square foot studios through 1500+ square feet three-bedroom, 2 bathroom homes listed at over $9000 per month. Luxury resident amenities at NEMA Boston, housed on the 21st floor of the building, include a fitness center, chef's kitchen, arcade, and co-working space.
LOI Filed for Millenium Partners Tremont Street Project
Millennium Partners, Asian Community Development Corporation (CDC), Corcoran Jennison Companies and Tufts Shared Services have officially filed a letter of intent to construct a 31-story, $174 million tower at 286-290 Tremont Street in Chinatown, replacing a City-owned surface parking lot.
The tower would contain 171 affordable apartment and condominium residences, a 140-room expansion of the adjacent Doubletree Hotel, a 264-space expansion of the adjacent Tufts Shared Services parking garage and 8,000 square feet of ground-floor community space.
Residences would include 45 apartments and 126 condominiums, and would represent Millennium’s affordable housing contribution for the upcoming 115 Winthrop Square tower. Corcoran Jennison owns the adjacent hotel, and Tufts owns the adjacent parking garage. Asian CDC recently completed the 21-story One Greenway mixed-income housing tower in partnership with New Boston Fund.
NPC Approved for The Huntington
A notice of project change has been approved for The Huntington, giving the development team the ok to reduce the floor to ceiling height within the 32 story tower in order to create 2 additional floors of living space. These two floors will allow for an additional 20 units, increasing the unit total to 446.
South Boston Property Trades for $80 Million
The property at 105 West First Street in South Boston has been acquired by Tishman Speyer for $80 million.
The approved seven-story, 250,000 square foot research and development (R&D) office building will be located on a 42,219 square foot site in South Boston across from A Street Park steps to the Channel Center development and the Broadway MBTA Red Line station.
The building will contain office, research, and development space, as well as ground-floor retail fronting West First Street.
Steel Framing Almost Complete for Hilton Hotel in South Bay Center
Structural steel framing is nearly complete for the upcoming Hilton Hotel as part of the South Bay Town Center redevelopment. The 6-story hotel will feature 130 guest rooms and is expected to be complete sometime next year. The hotel is the final piece of the redevelopment of the 10-acre site which includes new retail/restaurant space along with The Andi apartment building, featuring 475 units, now leasing.
Construction Continues on The Beat in Dorchester
Construction continues on Nordblom's transformation of BEAT in Dorchester, set to include 360,000 square feet of office space and 300,000 square feet of flex/light industrial space. The project will also include a 10,000-square-foot fitness center and a 100-seat restaurant and a micro craft brewery with a food component, including an outdoor beer garden. A new multi-use path will also be created around the site, restoring the adjacent Patten’s Cove public park and integrating the site into the surrounding Dorchester community.
Dock Square Garage Addition Approved
The ten-level addition to the existing Dock Square garage has been approved by the BPDA. The addition will include 195 residential units along with private open space at the center of the 9th floor. While the project will reduce the current 698 publicly available garage parking spaces to 682 spaces, the redesign includes new valet services and mechanical lifts. In addition, the brick façade of the existing garage will be re-clad along its entire perimeter to create a warm-colored building base that fits into the context of the neighborhood. Once construction begins it is expected to last around 24 months.
Cambridge Discovery Park Building 400-500 Will be New Headquarters for FogPharma and LifeMine Therapeutics
The Bulfinch Companies, Inc., announced it has signed a 114,490 SF lease with FogPharma in building 400 at Cambridge Discovery Park (CDP). The lease marks the first signed tenant for Bulfinch’s new 400-500 property, a world class 280,000 SF Class A lab, R&D and office development. Peter Bekarian, Managing Director at Jones Lang LaSalle served as the broker on behalf of Bulfinch, and Evan Gallagher, Senior Vice President at Colliers International represented the tenant.
CDP towers 400 and 500 are state-of-the-art, LEED Gold buildings designed by Stantec, and located in an opportunity zone. The building was topped off in April 2019 and is set to deliver Q1 2020, with John Moriarty & Associates serving as General Contractor. The property includes unobstructed views of Boston, a connector on the third through sixth floors over the private Discovery Way Drive, two distinct lobbies and ground floor amenities including a café, fitness center, floor-to-ceiling windows, and energy efficient systems. Situated in Alewife’s life science cluster, CDP has emerged as a desirable alternative to East Cambridge’s low vacancy constraints offering ample space for innovators in Boston’s life science hub.
“We are thrilled that FogPharma has chosen to remain at CDP and expand in Building 400-500,” said Mike Wilcox, SVP, Director of Leasing at Bulfinch. “Bulfinch has enjoyed a close-working relationship with FogPharma for several years and looks forward to continued success for years to come. CDP provides an ideal location with flexibility for tenants to grow and expand their research long-term in a premier life science campus in Cambridge.”
As a current tenant in a 22,442 SF space in Building 100 at CDP, FogPharma has leased all six floors of Building 400 with a phased move-in set to begin in January 2020. FogPharma will have an exclusive lobby in Building 400, exterior signage and branding rights to the building. FogPharma recognized the advantages of both location and amenities at CDP, electing to move into Building 400 to accommodate the company’s recent, expansive growth. For the first 3-5 years of the lease, FogPharma plans to sublet roughly half of its space in Building 400 to its sister company, LifeMine Therapeutics.
“FogPharma and LifeMine have grown in leaps and bounds since their operational start-up in 2016 and 2017, respectively. Our remarkable scientific progress demands continued aggressive growth to efficiently develop our pipeline of cell-penetrating miniproteins that engage the most intractable of disease targets,” said Greg Verdine Ph.D, President and CEO, FogPharma and LifeMine Therapeutics. “Fortunately, FogPharma and LifeMine are in a financial position to support our ambitious plans. It is both our pleasure and privilege to partner with Bulfinch once again to dramatically expand our presence in Cambridge Discovery Park, and together, foster the emergence of a vibrant biotech ecosystem in West Cambridge.”
As the third largest campus in Cambridge behind Harvard and MIT, CDP offers a number of sustainable perks, including the surrounding Alewife Brook Reservation with 27 acres of walking trails and green space. While set in a natural location, CDP is easily accessible by foot or a short five-minute shuttle ride from the Alewife MBTA Red Line Station, directly off Route 2 and nine minutes from Route 128. CDP offers a 150-room AC Hotel Boston Cambridge with conference center, restaurant, bar and two 650-car covered parking garages. Other amenities at CDP include outdoor seating and dining areas, a full-service yoga and fitness center, an on-site café, multiple bike racks with a bike storage room, bike sharing, ATM banking, electric car charging stations and a new riverfront park with water sculpture. Two luxury residential developments are also under construction adjacent to CDP – Vox on 2 and the Residences at Alewife.
Notable tenants currently leasing in other CDP buildings include Forrester Research, Genocea Biosciences, Inc. and The Smithsonian Astrophysical Observatory.
Citizens Commercial Real Estate Finance team is leading the construction loan for CDP Building 400-500 as the lead arranger and administrative agent. Bulfinch has worked closely with Citizens for more than a decade and looks forward to expanding the relationship in the years ahead.
Foundation Work Started for Hilton Hotel at South Bay Center
Foundation work has started for the upcoming Hilton Hotel as part of the South Bay Center's redevelopment. The extended stay hotel will feature 130 rooms along with parking for 77 cars. Construction on the hotel is set to be complete in 2020.
Exterior Work Wrapping up for 2 Brookline Place
Curtain wall and terracotta install are wrapping up for Boston Children's Hospital's new 182,500-square-foot building at 2 Brookline Place. Roofing and mechanical work at the penthouse level area also ongoing. 2 Brookline Place will feature medical office space, ambulatory care along with ground floor retail. Construction on the core and shell is expected to wrap up in October with tenant fitout to follow.
Next door at 1 Brookline Place, work is nearly complete for the expansion of the existing building with final painting and connection and testing of MEP controls wrapping up.
Preleasing Begins for NEMA Boston
With construction nearly complete on the building's exterior, preleasing efforts have begun for NEMA Boston, at 399 Congress Street in the Seaport. NEMA Boston's 414 apartments will be smart home ready and feature luxury finishes including Lutron Caseta, Caesarstone kitchen countertops, and Bosch and Blombert stainless appliances.
Resident amenities will span the top floor of the tower and include a heated skyline pool, fitness center, and game, and media lounges. The first units in the project are expected to welcome residents this fall.
Modular Boxes in Place for 28 Austin Street in Newton
Over 100 modular boxes are in place for the residential portion of the 28 Austin Street development in Newtonville. The development will feature 68 mixed-income residences along with 5,000 square feet of retail space. Unit sizes will range in size from one to two bedrooms and resident amenities will include a common roof terrace and garden. A public plaza will also be built on site along with 123 public parking spaces at ground level and 90 new spaces below grade.