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Related Beal Closes Financing for 345K-SF Boston Life Science Development
Related Beal has secured financing for Innovation Square Phase III (ISQ3), a 345,000-square-foot life science development in Boston’s Raymond L. Flynn Marine Park. The building will be fully occupied by Vertex Pharmaceuticals, a biotech company in the Seaport’s life science hub. The amount of the financing was not disclosed.
ISQ3 aims to deliver research facilities while prioritizing community benefits, DEI, and sustainability. It will be Boston’s first LEED Platinum and zero-net-carbon life sciences building, according to a release from Related Beal. ISQ3 follows Vertex’s occupancy of the Jeffrey Leiden Center for Cell and Genetic Therapies, also developed by Related Beal.
The project emphasizes diversity in investment and construction, with over 50% of the team comprising minority- or women-owned businesses. Public benefits include support for local organizations, STEM education programs, and employment opportunities for Boston residents. Construction is underway and expected to be completed in 2026.
