Block 585 Update
BioMed Realty Acquires Parcel for $50.5 Million
BioMed Realty has acquired the property at 585 Third Street in Cambridge for $50.5 million. The property features a .82-acre lot, formerly known as Constellation Center, and has now been rebranded as Block 585. It is an urban transit-oriented development site capable of supporting a variety of uses.
The initial development plan was to create a performing arts center with five halls and 110 public-realm rooms for the performance of music, opera, theater, dance, and cinema.