Redgate

Harrison Street and Bulfinch Partner to Acquire Osborn Triangle Harrison Street and Bulfinch have partnered to purchase Osborn Triangle for over $1 Billion. Osborn Triangle is located adjacent to MIT’s campus and consists of three buildings. 610 Main Street North, 1 Portland Street, and 700 Main Street. The property features 676,917 square feet of Lab, Office, and Retail space. Additionally, there is a 650-space parking garage associated with the property. The buildings have all been recently renovated or built and feature an array of retail stores on the ground level.

Redgate and Hilco Submit Updated Plans for South Boston Power Plant Redgate and Hilco have submitted updated plans to the city for their redevelopment of the South Boston Power Plant site.  The new plans call for reduced square footage and building height, along with a more advanced design of pedestrian walkways, and innovative transportation options.  The developers will also now preserve the 1898 Building. Total square footage has been reduced from 2.1 million to 1.93 with unit count coming down to 1,344, from 1,588 in the original plan.  Building height is also being reduced, the tallest part of the project would now stand at 200 ft instead of 206 ft.   The developers are also exploring a partnership with the MBTA to bring supplemental bus service to the area.  The proposal calls for a gradual build-out of the project over 12-15 years.  

ABC IN OPPOSITION TO THE PROPOSED ALEWIFE MORATORIUMA statement written by a committee of ABC membersA moratorium on all development at Alewife is a moratorium on affordable housing, a moratorium on transit-oriented development, and a moratorium on an ecologically responsible future. It is fundamentally out of step with Cambridge values. Proposals for housing moratoria are often discussed or adopted in surrounding suburban cities and towns, and for the same reasons forwarded in this letter. We now join Brookline, Newton, Marlborough, Pembroke, among many others, as part of the moratorium discussion. Cambridge has been a leader in progressive solutions to affordable housing, the environment, and transit, and we cannot set a precedent by turning our backs on that legacy.Most importantly, this moratorium would have immediate and drastic impacts on affordable housing in Cambridge, aggravating issues of income inequality and social equity we pride ourselves in tackling as a community.- Homeowners Rehab Inc.(HRI), a Cambridge non-profit affordable housing developer will provide 98 low to middle-income homes right on Concord Ave.- 55 Wheeler Street could be impacted. This project will be the first private development to be built under our new 20% inclusionary zoning rules and will provide over 100 affordable homes. Not only would a moratorium prevent much-needed housing, but would also block many of the goals outlined by the moratorium petition.-In total this moratorium could directly stop 500+ desperately needed units of Cambridge housing. This includes 100+ affordable units and a mix of 1,2,3 bedrooms with homeownership opportunities that will allow families and young people alike to remain in Cambridge. Secondly, this moratorium will put a halt on ecologically friendly, transit-oriented development in Cambridge, and cause us to lose much-needed state funding to fix this congested part of our city.-The Wheeler St development will provide a landing space for a much-needed potential bridge that will connect the quadrangle to Alewife T station.  This bridge could complete and connect many biking and pedestrian routes in Cambridge. The developer has proposed infrastructure improvements, as well as greater connectivity through the creation of a completed street grid to alleviate congestion and traffic.  - Cambridge has an opportunity to secure state funding as well as priority funding through the MA Department of Housing & Community Development’s Housing Choices Initiative. This important funding could be used to help pay for a bridge connecting the quadrangle to the Alewife T station. The state will reject applications from cities and towns that have a moratorium on housing. We cannot miss this opportunity for increased mobility and connectivity in the Alewife area.- Some have argued that this area is too congested for new development. However, it is estimated over 80% of the traffic in this area originates outside of Cambridge. This development is close to multimodal transport options, and could even lessen traffic as people move in closer to jobs and transit options.  Residential development causes much less congestion that commercial development this partially replaces. Lastly, this moratorium would fail to set the highest standard for climate preparedness in Cambridge development and miss opportunities to remediate severely polluted sites.- The Wheeler development will provide significant flood mitigation and new open space for flood and stormwater runoff. Higher standards could even be proposed without scuttling the entire development- HRI is keeping all units and building resources above the 2070 flood elevation, as recommended by the City of Cambridge’s Climate Change Vulnerability Assessment.- The area being developed is currently contaminated soils and unused pavement. Development work would require remediation, rather than these toxins remaining free to infiltrate the floodplain. A moratorium on development in Alewife does nothing but prevent this community from confronting our housing, climate, and mobility challenges. We need investment in housing and mixed-use development to tear up pavement, insert green space, provide infrastructure, and build a resilient, diverse, and well-connected neighborhood. A moratorium is a step backward and does nothing but hurt our progress on some of the most important issues facing our city.

Shire leases 220,000 square feet at new-construction 75 | 125 Binney Street in Kendall Square Shire, a leading rare disease-focused biotech firm headquartered in Ireland, has subleased 220,000 square feet from Ariad Pharmaceuticals at 75 | 125 Binney Street, a newly built 380,000-square lab/office building in Cambridge’s Kendall Square. Shire, Massachusetts’ second-largest life sciences employer, expects to move into the building in the first half of 2018, with fit out currently underway. The 220,000-square-foot space was vacated by Ariad, a cancer drug developer, earlier this year after Ariad was acquired by Takeda. Completed by Alexandria Real Estate Equities in 2016, 75 | 125 Binney Street is also home to IBM, who leases 160,000 square feet. Shire’s sublease continues the trend of growth in Boston’s Life Science sector, which boasts higher investment than that of any other United States region. Per the Avison Young Q3 2017 Life Science Report, overall life sciences vacancy rates have fallen to just 2.6% and 2.5% in Cambridge and Boston, respectively. Notable life sciences transactions this year have included Synlogic taking 41,000 square feet at 301 Binney Street and Roche Diagnostics and Proteostasis Therapeutics each taking 29,000 square feet at 80 Guest Street at Boston Landing in Brighton.

Over 500 apartments proposed at 55 Wheeler Street in Cambridge, minutes from Alewife Station Redgate and Westbrook Partners propose to construct three new buildings containing 526 apartment residences across six acres located minutes from Alewife Station in Cambridge. Residences would include studios, one-bedrooms, two-bedrooms and three-bedrooms; 111 residences would be designated affordable. 55 Wheeler Street would be built to LEED v4 Silver sustainability specifications and include amenities such as two on-grade courtyards, one of which would feature a pool deck, and a third elevated courtyard. A new 30,000-square-foot public park would be constructed as part of the project. The City of Cambridge is now reviewing Redgate and Westbrook’s proposed project plans.

Detailed South Boston Power Plant redevelopment plans revealed Developers Redgate and Hilco Global have revealed detailed plans of the proposed 2.1-million-square-foot South Boston Power Plant redevelopment. In total, 1,588 residential units, 339,639 square feet of office space, a 150-key hotel, and 68,077 square feet of retail and restaurant space, in addition to 987 above-and-below-grade parking spaces, are proposed at the site. Eight new buildings would be constructed at the site, and three existing turbine halls would be rehabilitated; building heights would range from 44 to 220 feet. More information about the latest proposed power plant redevelopment plans is posted above. Plans for the proposed project have been filed with the Boston Planning & Development Agency (BPDA), who is now reviewing the project.

2.1 million square foot development envisioned at South Boston power plant site Proponents Redgate and Hilco Global have revealed new details of the upcoming development of the 15.2-acre Edison power plant site on Summer Street in South Boston. In total, per a Letter of Intent filed with the Boston Planning & Development Agency (BPDA), 2.1 million square feet of residential, office, hotel, retail and restaurant space would be developed, along with parking.The proposed project would provide South Boston with an inviting new gateway. Eight new multi-story buildings would be constructed, and three architecturally-significant turbine halls, which run end-to-end through the site’s center, would be rehabilitated. The turbine hall would become the project’s “heart and soul.”The proposed development would be constructed over the next 10 to 15 years. The Boston Planning & Development Agency (BPDA) is now reviewing the proposal. Additional information and newly revealed renderings are posted above.

Sulmona and Cafe Luna restaurants open at newly completed 610 Main Street North in Kendall Square Sulmona, a new Italian restaurant and bar serving brunch, lunch and dinner, and Cafe Luna, a cafe serving breakfast and lunch, have both opened on the ground floor of the new 610 Main Street North mixed-use building in Kendall Square. 610 Main Street North features 280,000 square feet of office, laboratory and retail space and is now occupied by lead tenant Pfizer. The following are photographs of 610 Main Street North:

75 | 125 Binney, new Kendall Square lab and office building, awarded LEED Gold efficiency certification75 | 125 Binney, a newly opened Kendall Square lab and office building now home to Ariad Pharmaceuticals and IBM Watson, has been awarded LEED Gold energy-efficiency certification by the United States Green Buiding Council (USGBC). The sustainably-designed 75 | 125 Binney features a high-performance facade, resulting in increased energy efficiency, and is located in a walkable location convenient to multiple public transit lines. A new cafe, Catalyst Cafe, recently opened on 75 | 125 Binney's ground floor.

610 Main Street North, new Kendall Square laboratory building, now open Construction of 610 Main Street North, a new 280,000 square foot Kendall Square laboratory building with ground-floor retail, is complete and occupied by lead tenant Pfizer. On 610 Main Street North's ground floor, interior fit out is well underway for Sulmona, a new Italian restaurant and café, to open this Spring. The following are photographs of 610 Main Street North:

New 380,000 square foot Kendall Square lab and office building, 75 | 125 Binney, now open 75 | 125 Binney, a new 380,000 square foot lab and office building in Kendall Square, is complete and occupied. IBM Watson Health has moved into a new 160,000 square foot office space at 75 | 125 Binney. The remaining 220,000 square feet at 75 | 125 Binney are leased to Ariad Pharmaceuticals, who will open a new headquarters facility at 75 | 125 Binney. 75 | 125 Binney’s first retail tenant, Catalyst Café, will open on the building’s ground floor in the coming months. The following are photographs of 75 | 125 Binney:

South Boston Power Plant development preparations underway Preparations are underway for the development of the 18-acre South Boston Power Plant site, located at the intersection of Summer and First streets in South Boston. The last remaining electricity generator has been lifted out of the power plant building, bringing 120 years of electricity generation to a close and allowing development to proceed: Last generator lifted out of New Boston Generating Station. 120 years of electricity generation on L Street, South Boston, comes to a close. pic.twitter.com/2oaiVJ5e2e— Exelon Generation (@ExelonGen) November 15, 2016