An Update on Cambridge Construction
There are currently 2.5 million square feet under construction in the city of Cambridge. From Central Square to East Cambridge, commercial real estate development is thriving.
A great deal of this construction consists of lab space for tech and pharmaceutical companies. One reason for this is the Commonwealth is looking to take advantage of the talent from nearby top-tier universities by strengthening the foundation of Cambridge’s immense biotech industry.
Here’s a look at some of the construction that is taking place:
This 300K square-foot, $375 million building at One Cambridge Center in Kendall Square is currently being built by the The Broad Institute, with expected delivery in mid-2014
Biogen Idec is returning to its East Cambridge roots, currently building a 307K square foot space at 225 Binney St in Alexandria Center on land leased from MIT.
Novartis Pharmaceutical is constructing this $600 million, 550K square foot, multi-building complex at 181 Mass Ave. They expect to move in sometime in 2015.
For more information on the ongoing commercial development in Cambridge, check out BisNow.