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BXP Pivots on Kendall Square Development, Proposes New Lab Tower
In a pivot away from previous plans, BXP Inc. now proposes to redevelop a building in Cambridge, MA’s Kendall Square into a taller lab tower and to shrink the size of an already-approved lab project on Binney Street. The Boston Business Journal reported that the REIT is now interested in replacing the seven-story building at 105 Broadway, a 35-year-old, BXP-owned property occupied by The Broad Institute, with a new lab-and-office complex.
BXP unveiled its preliminary plans at a public meeting in Cambridge on Wednesday. The impetus for the change in plans is a Thermo Fisher Scientific Inc. subsidiary’s intention to stay in the existing facility now at the Binney site through at least 2029.
As a result, BXP proposed to take some of the nearly 400,000 square feet approved for a future BXP project at 250 Binney St. and shift it to the 105 Broadway redevelopment. This would require Cambridge officials to approve an amendment to the master plan for BXP’s redevelopment work in Kendall, according to the Business Journal.
Pictured: The existing property at 105 Broadway in Cambridge. Image courtesy of BXP.
- ◦Development
