BioMed Realty Releases Plans for Office/Lab Building at 585 Third St.
After purchasing the site in August 2018 for over $50M, BioMed Realty has now released plans for a 16-story office/lab building at 585 Third Street in Cambridge. The project would also feature a 30,000 square foot performing arts space plus a 10,000 square foot indoor public space on the ground floor. The 250-foot tower does not include any parking on-site as BioMed expects nearby garages to absorb demand from this project.
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.
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