Kendall Square in
Cambridge is one of the biggest hot spots for Boston
Area Real Estate of late with over $1 Billion set to be
invested in the location over the next few years. Cambridge as a whole
was the topic for most of our blog postings at the start of the New
Year with a great deal of high-tech and biotech companies flocking
to the area. With so much talent coming out of the Colleges and
Universities throughout the region, coupled with the fact that more
firms are calling The Greater Boston Area Home, it leads to the
ultimate conclusion that businesses are looking to invest to stay
where the innovative minds are.
Between office space, R&D and apartment units, the future
outlook for Kendall Square will
be incredibly bright and full of energy and potential. We blogged
about Biogen adding to the
biotech building boom in the area and many more projects are
also underway. Six in fact are already in the works with completion
dates set for the very near future. The following comes from the
Boston Business Journal and highlights these specific developments;
the new Kendall Square is
going to be something quite spectacular for years to come, to say
the least:
- Twining Properties’ Watermark II, an 18-story, $55 million
luxury apartment building off Third Street. - The Broad Institute is expanding on Ames Street with a 12-story
building at a cost of $343 million. - Alexandria Real Estate Equities and Boston Properties broke
ground last year on a $500 million project that will anchor Biogen
Idec. - Skanska USA is building a $70 million development that will
include lab and offices on Second Street. - Google is expanding by 40,000 square feet and expect a proposal
from Boston Properties for a 22-story apartment tower on Ames
Street - MITs expansion of One Cambridge Center that would include
apartments.
More Information: Boston Business
Journal