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Press Release: Boynton Yards Celebrates Opening of First Purpose-Built Life Sciences Lab in Somerville


Somerville, MA
5/5/2022

 

Boynton Yards Celebrates Opening of First Purpose-Built Life Sciences Lab in Somerville

101 South Street now home to four Flagship Pioneering-founded companies

Somerville, MA, May 5, 2022 – Today, the development venture of DLJ Real Estate Capital Partners (DLJ), Leggat McCall Properties (LMP) and Deutsche Finance America (DFA) joined the City of Somerville and Flagship Pioneering companies to cut the opening ribbon on 101 South Street, the first purpose-built Class-A lab building in Somerville as part of the Boynton Yards 1.8 million square foot, mixed-use life sciences and cultural community.

The first of four master planned life sciences buildings, 101 South Street offers best-in-class, high-efficiency infrastructure where companies can imagine and grow. The nine-story, 289,000 square-foot building offers state-of-the-art R&D lab/office space, a fitness center, bike amenities, four levels of below-grade parking, and on-site retail offerings. A ground floor conference center along with Arts and Creative Enterprise space (ACE) within the building and centered in the “Hive” at 561 Windsor Street are available for use by tenants and the Somerville Community. Coming this summer, Firefly and Portico Brewery will open serving food and beverages.

The building was pre-leased prior to completion to Flagship Pioneering, a bioplatform innovation company headquartered in Cambridge, to meet critical growth needs for its companies Tessera Therapeutics, Laronde, Cellarity, and Generate Biomedicines. These tenants occupy 280,000 square feet on eight floors.

Designed by architects SGA and Hashim Sarkis Studios, the building was conceived with flexibility and sustainability for emerging life sciences and technology companies. Each floor has 35,000 square feet of column-free floor plates surrounding the building’s core, offering tenants flexibility to grow and redesign to meet the needs of their workforce. The building will achieve LEED Gold and WiredScore Platinum certifications, a testament to the sustainable and highly efficient design approach.

General contractor Shawmut Design and Construction completed the job on time despite pandemic-related obstacles and lockdowns. Enhanced safety protocols to support public health mandates were employed to mitigate the risk of COVID-19 across the job site.

Boynton Yards will be a model for leading urban design with a progressive mobility management plan to decrease traffic and encourage connectivity using alternative transportation modes.  Supportive amenities include on-site bike facilities, Bluebikes stations, e-bike access, a dedicated tenant shuttle and pedestrian access to the new Union Square MBTA GLX train station just a short walk away.

As the first master planned development to be approved under the new Somerville zoning ordinance as part of the City’s SomerVision comprehensive plan, Boynton Yards has evolved through an inclusive community-driven urban revitalization process.  With neighborhood input, the future of the seven-acre site now includes commercial, residential, retail, public green, arts and performance spaces that will transform the area into a vibrant work-live-play neighborhood.

Offering a contemporary cultural experience, residents, scientists and artists will enjoy a micro-community that includes more than two acres of civic and green space.  The project brings approximately 4,000 permanent jobs to the City of Somerville and will establish it as one of the region’s most prominent life sciences hubs.

Media Inquiries: 

Pamela Jonah
781-956-6865
Pam@JonahPR.com

 

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Press Release: Fully Capitalized, Cambridge’s 40 Thorndike Development Forges Ahead


Cambridge, MA
9/15/2021

 

Fully Capitalized, Cambridge’s 40 Thorndike Development Forges Ahead

Located in the heart of East Cambridge, this transformative mixed-use development, designed to achieve LEED Gold certification, represents the only Class-A office headquarters opportunity in the nation’s premier tech and life science cluster in the next two years.

EAST CAMBRIDGE, MA – September 15, 2021 – After years of pre-development planning and permitting, and with interior demo and abatement nearing completion, the joint venture of Leggat McCall Properties and Granite Properties today announced that capital funding has been secured for the full redevelopment of 40 Thorndike, a 475,000 square foot, 20-story project located in East Cambridge scheduled for delivery in fall 2023.

CBRE Global Investors, one of the world’s leading real asset investment managers with $129.1 billion in assets under management, will join the effort as the project’s equity partner on behalf of one of the firm’s investment funds.  Bank OZK, an industry leader in construction financing for marquee properties throughout the U.S., is the project’s construction lender.  CBRE Global Investors and Bank OZK’s commitment comes at a time when 40 Thorndike has emerged as the singular custom headquarters office opportunity in the East Cambridge market.  JLL arranged the funding as capital market broker and will continue to represent  Leggat McCall and Granite Properties as leasing agent for the property.

“Our partnership with CBRE Global Investors and Bank OZK enables us to deliver truly exceptional, modern office space to the most innovative companies in this global hub of ingenuity,” said Rob Dickey, Executive Vice President and partner at Leggat McCall Properties.  “The building’s new terracotta and glass façade along with unencumbered 360-degree views will set the tone for a thriving block that also includes 48 new housing units, onsite childcare, retail and outdoor space.”

“With our committed partners, Granite is excited to realize our vision for this transformative East Cambridge project that embodies ESG principles in both its design and amenities,” added Bill Brown, Chief Investment Officer at Granite Properties.  “Securing this capital allows us to offer a sustainable, wellness-focused, people-centric work environment designed for collaboration and innovation. Located just a few blocks from Kendall Square, 40 Thorndike’s one-of-a-kind, Class-A office space will be attractive to top talent and businesses serving the area’s most prominent global tech and life science companies.”

Designed by Elkus Manfredi Architects and being constructed by John Moriarty & Associates, the ground level of the reimagined building will feature a thoughtful series of activated storefronts and intimate public landscaped space for the enjoyment of the Cambridge community and future building employees and residents.

The majority and upper floors of the new building will offer office space planned for Kendall Square-connected businesses, while floors 2 and 3 will accommodate 48 affordable apartments with a separate residential entry on Third Street.

Comprised of a city block, the project is designed with a commitment to sustainability and wellness to achieve LEED Gold certification. Class-A amenities, including a childcare facility, fitness center, a south facing pocket-park and multiple outdoor deck spaces, and an adjacent indoor farmers market will support its resurrection as a prominently located community asset.  Spanning 475,000 square feet across 20 stories, the building will also be a formidable presence on the city skyline with superior views of Boston, Cambridge, and the Charles River.

Project construction began in 2020 with the initial phase clean-up of the building interior. Phase two construction work recently began on the installation of a new façade with a terracotta and glass skin that will completely modernize the exterior and showcase this prominent East Cambridge building.

The development team will continue to meet regularly with the community to provide updates on construction as they work toward a building occupancy goal of Fall 2023.

Just a 5-minute walk from the new Lechmere station and 13 minutes from Kendall/MIT station, 40 Thorndike has unparalleled access to the MBTA, boasts a 94 bike score and will provide 130 indoor bike spaces. The neighborhood is just 8 minutes from I-93 and 12 minutes from I-90 and will have 362 parking spaces serving its tenants.

 

Leggat McCall Properties

Founded in 1965, Leggat McCall Properties is a leading real estate owner, developer and service provider to corporate, educational, healthcare and other clients in the Greater Boston Area.  Over the past 10 years, LMP has had a leadership role in over 42 million square feet of project development, representing more than $10 billion of investment. The company has executed on 15 projects over $200 million, 50 over $50 million, and has also developed or acquired approximately $3 billion in assets as principals, including research and life science, mixed-use, office, and residential properties. The firm has a dominant presence in the rapidly growing life sciences, higher education and healthcare industries and serves many of the area’s top universities, healthcare systems and biotech companies, including Novartis Institutes for BioMedical Research, Draper Laboratory, Harvard University, Massachusetts Institute of Technology, and Brigham & Women’s Hospital.

Granite Properties

Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991. Granite owns more than 10 million square feet of high quality office space in Dallas, Houston, Atlanta, Denver, Southern California and Nashville. Granite is an established investor, developer and manager with a focus on sustainable, high-quality projects. More than $7.7 billion in real estate transactions and more than 28 million square feet of real estate development and acquisitions have been completed by Granite. Current plans for acquisition and development projects in Atlanta, Boston, Dallas, Houston and Southern California are valued at over $1 billion. Granite focuses on creating extraordinary customer experiences through mixed-use environments, rich in amenities, customer-centric service, and innovative wellness features. The firm has been named as one of Fortune Magazine and Great Place to Work Best Workplaces for the last nine consecutive years. For more information, visit: www.graniteprop.com.

CBRE Global Investors

CBRE Global Investors is one of the world’s leading real asset investment managers with $124.5 billion in assets under management. Built up over more than 40 years, our distinct platform is focused on real assets, giving our institutional clients access to real estate and infrastructure in the Americas, Europe and Asia Pacific. Our clients have access to a complete range of investment solutions including equity and debt, direct and indirect, and listed and unlisted strategies. We believe the best performance comes from putting our clients first. In our experience, our local market intelligence, proprietary research and active management enable our experienced professionals to deliver strong results and exceptional service. As part of CBRE Group, the premier real estate services platform, we believe we offer our clients a competitive advantage with an enriched local footprint and market knowledge and access to best-in-class services.

Bank OZK

Bank OZK (Nasdaq: OZK), through its Real Estate Specialties Group (RESG), provides financing on commercial real estate projects throughout the nation. RESG is considered a preeminent, market-leading construction lender changing skylines across the United States. RESG focuses on senior secured commercial real estate construction financing for a variety of property types including mixed use, multifamily housing, condominiums, office, hotels, life sciences, industrial and retail.  During the five years ended December 31, 2020, RESG originated $35 billion in new commercial real estate construction loans. For more information visit www.ozk.com.

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Press Release: Charlestown’s Bunker Hill Housing Redevelopment Project Approved to Move Forward


Charlestown, MA
5/3/2021

For Immediate Release
May 3, 2021

Charlestown’s Bunker Hill Housing Redevelopment Project Approved to Move Forward
Declaration Partners to Invest in Project

 

Boston, MA – In a step closer to bringing new affordable and market rate housing to Charlestown through an historic public-private partnership, the Bunker Hill Housing Redevelopment project has received all master site and phase one design approvals from City of Boston regulatory boards while also securing the necessary private financing to move forward with phase one demolition and construction this winter 2021/2022.

“Bunker Hill is a neighborhood rich in history and resiliency that spans the past and present,” said Mayor Kim Janey.  “There is no other public-private development of this scale that exists in Boston today that so strongly symbolizes equity, sustainability and hope.  The power of public participation throughout the planning process is a moment in time that the residents of Bunker Hill Housing and Charlestown will look back on with pride when new homes, open space, and improved street connectivity become a reality.”

The Bunker Hill redevelopment is a public-private partnership of the Boston Housing Authority (BHA), in conjunction with the Charlestown Resident Alliance (CRA), the Joseph J. Corcoran Company, Leggat McCall Properties, and Declaration Partners. The project will bring renewed affordable housing to more than 2,500 current residents while also offering new market rate housing in historic Charlestown.  Spanning 26 acres, the master site plan includes the demolition of 42 buildings consisting of 1,100 BHA units and the construction of 2,699 new residential units.  The project will also bring approximately 50,000 square feet of retail and a 14,000 square foot community center, off-street parking, and new public open space to the area.

The recent unanimous board approvals received from the Boston Planning & Development Agency (BPDA), Boston Zoning Commission, and Boston Civic Design Commission (BCDC) reflect the outcome of a community-driven Article 80 process with strong participation from elected leaders, the neighborhood’s Impact Advisory Group (IAG), and Charlestown residents to mitigate concerns and improve the overall plan.

“The recent announcement of a financing agreement for the Bunker Hill Housing Development revitalization is an impactful next step. We welcome Declaration Partners to the team and the Charlestown community,” said State Representative Dan Ryan. “During this past seven-year odyssey, our neighborhood engaged in a visioning process with our sights set on building more vibrant and inclusive affordable housing for our neighbors while balancing the future impacts of such a development on our historic square mile. We are moving forward with that vision. I look forward to continuing this journey with my colleagues in government, the BHA and Charlestown Resident Alliance, the development team led by Joseph J. Corcoran Co. and Leggat McCall and most importantly, the residents of Charlestown.”

“I am so excited that this is moving forward so that we can begin working towards giving all residents the dignified housing that everyone deserves,” said City Councilor Lydia Edwards. “I am proud to have worked with all stakeholders to ensure this process has been youth and community led and will continue advocating for that through all phases of the redevelopment.”

To minimize relocation disruption for current residents, the redevelopment will progress in phases over a 10-year period.  The BCDC recently voted unanimously to support the designs for phase one of the project, which will include two buildings located on Medford Street and Samuel Morse Way.

“As the largest public housing development in New England, this redevelopment represents more than just a transformation of 42 buildings, but also an investment in our families and in our future as a City,” added BHA Administrator Kate Bennett.  “I want to thank the residents and the broader community for helping us get to this important milestone.”

“Today is a historic day for the residents of Bunker Hill,” said Nancy Martinez, President of the Charlestown Resident Alliance. “With the BHA and our Developer partner, the Charlestown Resident Alliance has worked to ensure that through robust resident participation, our Bunker Hill redevelopment will become a national model for a truly inclusive mixed-income community. The partnership forged between the CRA, development team, and the BHA ensures our residents will share planning and decision-making responsibilities well into the future.”

The development team also announced today that Declaration Partners will be the lead investor for the 10+ year project.  Declaration is an investment firm anchored by the family office of David M. Rubenstein, financier, member of the Harvard Corporation and a committed philanthropist.

“We are humbled to have the opportunity to partner with the City of Boston, the BHA, the CRA, Bunker Hill residents and the development team and to invest in the long-term renewal and preservation of this historic neighborhood,” said Todd S. Rich, Co-Founder of Declaration Partners. “We are attracted to the social benefits of preserving affordable housing while adding market rate housing in Boston, which we intend to continue to invest in over the long-term given the City’s diverse economy and strong demand fundamentals.”

With the current estimated development cost of the project at approximately $1.4 billion, the planned redevelopment represents an innovative public financing strategy that minimizes the use of public resources to replace public housing units. In addition, the City of Boston is also investing $120 million toward infrastructure improvements for the project. The initial $30 million of this capital funding was announced by Mayor Marty Walsh in April 2019 as part of the City’s Capital Plan to invest $2.78 billion in Boston neighborhoods in the Imagine Boston FY20-24 Five Year Capital Plan. This investment is the first time in the City’s history that City bond dollars have been invested directly into a BHA redevelopment effort, underscoring the City’s fervent commitment to revitalize deeply affordable public housing.

In addition, long-term affordability will be preserved through new operating subsidies and the Low-Income Housing Tax Credit (LIHTC) program.  The current federal public housing subsidy will be replaced by Section 8 Project-Based Vouchers for low-income residents.

For each subsequent phase of the project, the development team must seek design approval from BCDC and continue its engagement with the Charlestown Resident Alliance, Bunker Hill current residents, the Impact Advisory Group (IAG), and the greater Charlestown community.

“When we first responded in 2015 to BHA’s request for proposals, we believed that the road paved by my father in the late 1970s to further equity in public housing could be applicable and done even better here,” said Joseph J. Corcoran, President of the Joseph J. Corcoran Company.  “I’m grateful for the contributions of our elected leaders, the CRA, and all of the residents of Charlestown.  This will be a case study of how public housing can be transformed into market mixed housing communities utilizing the private capital markets. This will be the landmark property we envisioned where future generations can thrive in equitable housing and enjoy an onsite community center that offers social and educational programming.”

“This project demonstrates advancement in how public-private residential development continues to evolve and improve when non-traditional approaches are applied,” added Adelaide Grady, Executive Director of the Bunker Hill Housing Redevelopment and Senior VP at Leggat McCall Properties. “We will never sacrifice our commitment to transparency, equity, and sustainability as we move toward demolition and through the construction cycle.  There is no better place than Boston to showcase the impact this reimagined area will have on future generations when our goal is fully achieved.”

Joseph J. Corcoran Company and Leggat McCall Properties were represented by Eastdil Secured as their exclusive financial advisor in the capital raising efforts, and Redimere Advisors LLC were instrumental in the formation of the development team partnership.

 

About Boston Housing Authority

Boston Housing Authority provides quality affordable housing for low-income families and individuals through the public housing and Section 8 rental assistance programs. We foster vital communities that are essential to our city’s economic diversity and way of life.  As the largest housing provider in Boston, we bring stability, opportunity, and peace of mind not only to the thousands of low-income families we support, but to the city as a whole.

About Joseph J. Corcoran Company

The Corcoran Company, led by principal Joe Corcoran, has more than 30 years of experience in development, asset management, and property management, with an expertise in creating market mixed income communities using private market solutions.  The Corcoran development team brings the market rate, mixed-income formula pioneered by the Corcoran Jennison Company and reflected in past successful residential developments such as the King’s Lynne and Harbor Point apartment communities.

About Leggat McCall Properties

For more than 50 years Leggat McCall Properties (LMP) has been a leading provider of real estate development, project management, and advisory services in the Boston real estate market. We have built our reputation on delivering best-in-class services to a diverse portfolio of private, public, and nonprofit clients on their most complex and challenging projects. In the last 10 years, LMP has contributed to hundreds of projects totaling more than $10 billion in capital investment, including 15 projects over $200 million and 50 over $50 million. The company has also developed or acquired approximately $3 billion in assets as principals, including mixed-use, office, residential, and research and life science properties. We bring an entrepreneurial mindset to solving institutional real estate problems and currently serve over 30 tax-exempt, mission-driven institutional clients.

About Declaration Partners

Declaration Partners is an investment firm anchored by the family office of David M. Rubenstein. Declaration’s real estate investment business provides flexible capital solutions for select real estate operators to create sustainable long-term value. The firm is headquartered in New York with an office in the Washington, DC area, and invests on behalf of family offices and like-minded institutional investors.

 

Website:

www.bunkerhillhousing.com

Media Contacts:

Boston Housing Authority & Charlestown Resident Alliance

Lydia Agro, Chief of Staff & Public Affairs
617.988.4130
Lydia.Agro@bostonhousing.org

Joseph J. Corcoran Co. & Leggat McCall Properties

Pamela A. Jonah
781.956.6865
Pam@Jonahpr.com

Declaration Partners

Christopher Ullman
202.641.2234
Chris@Chrisullman.com

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Press Release: Flagship Pioneering Expands Biotech Footprint to Property in Somerville’s Boynton Yards


Cambridge, MA
3/31/2021

 

Flagship Pioneering Expands Biotech Footprint to Property in Somerville’s Boynton Yards

Four Flagship start-ups will be first occupants of new space

Cambridge, Mass., March 31, 2021Flagship Pioneering, the life sciences platform company headquartered in Cambridge Massachusetts, today confirmed it has leased space at Somerville’s Boynton Yards, with an option to take additional square footage over the next few years.

The expansion will increase Flagship’s overall footprint of 1.5M SF by an additional 208K SF and will be used as both lab and office space by Flagship-found companies Tessera Therapeutics, Cellarity, LARONDE, and others. Initial tenants expect to take occupancy in October 2021. Flagship will have the option on the remaining balance of the building for another 70K SF in 2021 and on an additional building for 300K SF delivered in late 2023.

“Flaship’s expansion into Somerville gives a number of our companies the space they need for their critical growth trajectories while remaining close to Flagship’s wider ecosystem of 40-plus companies within Cambridge,” said Christine Heenan, senior partner at Flagship Pioneering. “Flagship is excited to be one of the first entrants into this emerging community for life science companies in Somerville. We are excited about what the future will hold there, for Flagship and for Somerville.”

Boynton Yards is a 1.3M SF science and innovation campus being developed by DLJ Real Estate Capital Partners and Leggat McCall Properties. The campus will include three Class-A lab and office buildings, the first of which is the life-sciences lab building 101 South Street. The property is less than a mile away from Kendall Square, where Flagship has been a long time resident and community member, and will be served by the MBTA Green Line Extension.

“Somerville is committed to the life science, healthcare, and technology industries and Boynton Yards is critical infrastructure that enables those industries to thrive here,” said Somerville Mayor Joseph A. Curtatone. “That Flagship Pioneering, one of Kendall Square’s preeminent life science companies and founders of Moderna, is one of the first tenants of this new development is a testament to the innovative community we are building in Somerville and we welcome their growth and investment in our city.”

About Flagship Pioneering
Flagship Pioneering conceives, creates, resources, and develops first-in-category life science platform companies to transform human health and sustainability. Since its launch in 2000, the firm has, through its Flagship Labs unit, applied its unique hypothesis-driven innovation process to originate and foster more than 100 scientific ventures, resulting in over $80 billion in aggregate value. To date, Flagship has deployed over $2.3 billion in capital toward the founding and growth of its pioneering companies alongside more than $19 billion of follow-on investments from other institutions. The current Flagship ecosystem comprises 41 transformative companies, including Axcella Health (NASDAQ: AXLA), Codiak BioSciences (NASDAQ: CDAK) Denali Therapeutics (NASDAQ: DNLI), Evelo Biosciences (NASDAQ: EVLO), Foghorn Therapeutics (NASDAQ: FHTX), Indigo Ag, Kaleido Biosciences (NASDAQ: KLDO), Moderna (NASDAQ: MRNA), Rubius Therapeutics (NASDAQ: RUBY), Sana Biotechnology (NASDAQ: SANA), Seres Therapeutics (NASDAQ: MCRB), and Sigilon Therapeutics (NASDAQ:SGTX).

Media Inquiries: 

Flagship Pioneering
press@flagshippioneering.com

City of Somerville
Denise Taylor
857-523-9905
media@somervillema.gov

Boynton Yards Development (DLJ/LMP)
Pamela Jonah
781-956-6865
Pam@JonahPR.com

Cushman & Wakefield
Duncan Gratton
duncan.gratton@cushwake.com

Newmark
Mark Winters
mark.winters@ngkf.com

Photo Credit: Jonathan Azize Photography

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Somerville’s 101 South Street at Boynton Yards Reaches Topping-Off Milestone


Somerville, MA
9/21/2020

Somerville’s 101 South Street at Boynton Yards Reaches Topping-Off Milestone

First building to be completed next year as part of Boynton Yards, the largest development in the city’s growing life science market

Somerville — (September 21, 2020) — DLJ Real Estate Capital Partners (DLJ RECP), Leggat McCall Properties (LMP) and Shawmut Design and Construction commemorated the final steel addition atop 101 South Street — Somerville’s first life sciences building. The nine-story, 290,000 square-foot, Class-A mixed-use facility will provide state-of-the-art lab space geared towards emerging life science companies. The building, which will include first floor retail, community art spaces and a four-level underground parking garage, will achieve LEED Gold and WiredScore Platinum certifications, a testament to the sustainable and highly efficient approach.

“Despite the challenges that COVID has posed during the last six months, the skill and efficiency of the construction team led by Shawmut have been nothing less than extraordinary,” said John Fenton, Development Manager of DLJ Real Estate Capital Partners. “With the necessary protocols in place, everyone has adapted and continued to press forward resulting in no delay toward completion next summer.”

The first of three life science buildings as part of the Boynton Yards development in Somerville, 101 South Street will offer best-in-class, high-efficiency infrastructure where companies can imagine and grow. The proposed 6.54-acre development will transform the area into a vibrant work-live-play neighborhood. With more than one million square feet of commercial, residential, retail, public green, arts and performance spaces, the project will bring 4,000 permanent jobs to the City of Somerville and help establish it as one of the region’s most prominent life science hubs.

“We’ve always envisioned Boynton Yards as Somerville’s new innovation campus for the life sciences and tech sector to expand and grow,” added Rob Dickey, Executive Vice President of Leggat McCall Properties. “Now with the added force of today’s demand for lab space, Boynton is well positioned to support the City’s goal of competing and complementing Boston and Cambridge for years to come.”

Shawmut Design and Construction, the general contractor, along with architecture firms SGA and Hashim Sarkis Studios, is executing the ground-up building which will match the quality and specifications of other Class-A buildings while providing state-of-the-art lab space — including advanced wet and dry R&D labs and column-free, 35,000 square-foot floor plates for unique and maximum flexibility. 101 South Street will also feature a below grade parking garage for 250 vehicles, indoor bike storage, and a two-story lobby complete with retail space overlooking abundant public green areas and walking paths.

Shawmut has deployed enhanced safety protocols to mitigate the risk of infectious disease spread across all jobsites, rolling out new procedures, jobsite innovation, and an exhaustive COVID-19 risk assessment and response plan nationwide. These protocols are implemented at the 101 South Street site and include Shawmut Vitals — a custom technology platform which allows team members to self-certify daily health screenings by scanning a job-specific QR code and completing a health survey.

“We are tremendously proud of the progress we’re making at 101 South Street, but most importantly how we’re doing so safely,” said Kevin Sullivan, Executive Vice President at Shawmut. “As the first building at Boynton Yards, this facility will anchor what is envisioned to be the future of Somerville as a hub of innovation, technology and life science research.”

101 South Street broke ground in June 2019 and is slated for completion in Summer 2021. The upcoming Boynton Yards campus — currently undergoing a public master plan permit approval process — is envisioned as an extension to Somerville’s Union Square and Inman Square neighborhoods that will bring Somerville families, local businesses and researchers together with ample open space in a modern, innovative community of the future.

About DLJ RECP:  DLJ RECP is an independent, vertically-integrated real estate investment management firm targeting investment and development opportunities in the dynamic neighborhoods of major US cities. DLJ RECP was founded in 1995 and has offices in New York, Boston, Los Angeles, and Hong Kong. To date, the company has executed over 200 real estate investments with a total transaction value of over $16 billion, representing over $4.5 billion in invested capital. Across DLJ RECP’s 20+ year history, the firm has built a strong track record of success through ground-up development and intensive redevelopment real estate projects. DLJ RECP’s projects include large scale residential, office, and retail developments, as well as historic redevelopment and preservation projects all built to an institutional standard.

About LMP: Founded in 1965, Leggat McCall Properties is a leading real estate owner, developer and service provider to corporate, educational, healthcare and other clients in the Greater Boston Area.  Over the past 10 years, LMP has had a leadership role in over 42 million square feet of project development, representing more than $10 billion of investment. The company has executed on 15 projects over $200 million, 50 over $50 million, and has also developed or acquired approximately $3 billion in assets as principals, including research and life science, mixed-use, office, and residential properties. The firm has a dominant presence in the rapidly growing life sciences, higher education and healthcare industries and serves many of the area’s top universities, healthcare systems and biotech companies, including Novartis Institutes for BioMedical Research, Draper Laboratory, Harvard University, Massachusetts Institute of Technology, and Brigham & Women’s Hospital.

About Shawmut Design and Construction: Shawmut Design and Construction is a $1.5 billion national construction management firm with a reputation for completing extremely complex and logistically challenging projects for the most high-profile clients in the industry. As an ESOP (employee-owned) company, Shawmut has created a culture of ownership, proactive solution-making, and forward thinking. Eighty percent of its business comes from repeat clients, proving there is a strong focus on building lasting partnerships. Shawmut has offices located in Boston, Providence, New York, Miami, Chicago, Las Vegas, Los Angeles, and Irvine.

Media Inquiries: 

LMP/DLJ
Pam Jonah
pam@jonahpr.com
(781) 956-6865

Shawmut
Kevin Corsino
KCorsino1@shawmut.com
(857)-225-5274

http://boyntonyards.com/ 

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Life Science Is Pandemic-Proof Real Estate | Commercial Observer


Somerville, MA
7/6/2020

After restarting in early June, construction continues to move steadily ahead at DLJ Real Estate Capital Partners and Leggat McCall Properties’ 101 South Street project at Boynton Yards.

The 289,000 SF speculative lab building is featured in the Commercial Observer’s look at the state of the life science market.

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Bunker Hill Housing Redevelopment Designs to Passive House Standards


Charlestown, MA
1/22/2020

The Bunker Hill Housing Redevelopment team announced that the project is being designed to Passive House standards at our last community meeting in November. Addie Grady, Senior Vice President, recently sat down with the Charlestown Patriot Bridge to talk about the project’s energy efficiency goals.

Read the full article in the Bridge.

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Press Release: Ceremonial Groundbreaking Marks Progress of 101 South


Somerville, MA
12/2/2019

Ceremonial Groundbreaking Marks Progress of 101 South, First Building of Boynton Yards Redevelopment

289,000 SF commercial building will jump start mixed-use redevelopment, attract tech and life sciences to Somerville

Somerville, MA, December 2, 2019 — DLJ Real Estate Capital Partners (DLJ RECP), Leggat McCall Properties (LMP), Shawmut Design and Construction, and Spagnolo Gisness and Associates were joined by Somerville Mayor Joseph Curtatone, City Councilor J.T. Scott, neighbors, and community members to celebrate the official groundbreaking on 101 South Street in the Boynton Yards neighborhood of Somerville, MA.  This nine-story, 289,000 SF Class-A lab building will be the first structure built as part of the largest state-of-the-art lab development in Somerville’s growing life science market. While site and foundation work began earlier this year, the event celebrated the positive progress on the first building as well as the transformative vision for Boynton Yards.

“Today we celebrated the start of the first phase of a project that aligns with so many of Somerville’s goals,” said Mayor Curtatone. “When 101 South Street is complete it will be home to jobs in the life sciences, retail, and the arts; include new residential units; and add more open space that residents can enjoy. As we continue to develop neighborhoods like Boynton Yards, I hope we’re able to work with partners like DLJ, Leggatt McCall Properties, and Shawmut that want to build projects that move our community forward.”

“Realizing the long term value of the Mayor’s broad vision to revitalize Union Square, Boynton Yards, and the rest of Somerville is the reason we were first attracted to Somerville well over five years ago. Now we have begun the exciting work of creating a new place that respects the creative, industrial roots of the neighborhood and responds to the culture and needs of Somerville today,” said John Fenton, Principal of DLJ Real Estate Capital Partners. “This will be the first piece of a modern multiphase development that will bring together Somerville’s growing professional and artistic community with the new pioneers of the life science world in a vibrant mixed-use community of lab/office, residential, retail, and creative arts space.”

101 South Street is the first phase of what is envisioned to be an 18-hour, work-live-play neighborhood offering over one million square feet of commercial, residential, retail, arts, and performance spaces, along with various public green areas on a 6.54-acre parcel of land. DLJ RECP and LMP are currently developing an overall master plan for the site with the City of Somerville and its planning staff and engineering team.

“There is no substitute for what strong civic leadership, community support and private investment can do to improve development opportunities and spur economic development in now dormant areas that have the potential to impact an entire city,” said Rob Dickey, Executive Vice President of Leggat McCall Properties. “The transition of Boynton Yards from its industrial roots of the last 100 years to a reimagined vital tech and life sciences hub with housing, new infrastructure, streetscape, and open space will be one to watch as we continue to collaborate with Mayor Curtatone, his team, and the Somerville community.”

Shawmut Design and Construction, the general contractor, along with architects Spagnolo Gisness & Associates (SGA) and Hashim Sarkis Studios (HSS), is executing the ground-up building now under construction at 101 South Street. The mixed-use facility will match the quality and specifications of other Class-A buildings while providing state-of-the-art lab space, including advanced wet and dry R&D labs in column free space geared toward emerging tech and life sciences companies. In addition, it will offer abundant open public space, engaging first floor retail, dedicated areas for community arts uses, and four levels of underground parking.

“We are tremendously proud to bring the vision of Boynton Yards to life, helping lead the future of Somerville with a transformative project that reflects the historic fabric of the community while creating a modern and innovative work-live-play neighborhood,” said Kevin Sullivan, Vice President at Shawmut Design and Construction. “101 South Street will mark a pivotal point in the transformation of the area into a vibrant, mixed-use district that will fuel innovation and growth. Our team is expertly navigating the challenges that come with working in an urban environment to deliver a true state-of-the-art space that will serve both the city and surrounding communities.”

Boynton Yards is located adjacent to cultural amenities in Somerville’s Union Square and Cambridge’s Inman Square, and is less than one mile from Kendall Square, the epicenter of the biotech and life science industry. 101 South Street is expected to be completed by late spring 2021, with initial tenant occupancy beginning in the summer to align with the completion of the planned MBTA Green Line station in Union Square and a $140 million infrastructure modernization plan to improve the area’s public realm.

 

About DLJ RECP:  DLJ RECP is an independent, vertically-integrated real estate investment management firm targeting investment and development opportunities in the dynamic neighborhoods of major US cities. DLJ RECP was founded in 1995 and has offices in New York, Boston, Los Angeles, and Hong Kong. To date, the company has executed over 200 real estate investments with a total transaction value of over $16 billion, representing over $4.5 billion in invested capital. Across DLJ RECP’s 20+ year history, the firm has built a strong track record of success through ground-up development and intensive redevelopment real estate projects. DLJ RECP’s projects include large scale residential, office, and retail developments, as well as historic redevelopment and preservation projects all built to an institutional standard.

About LMP: Founded in 1965, Leggat McCall Properties is a leading real estate owner, developer and service provider to corporate, educational, healthcare and other clients in the Greater Boston Area.  Over the past 10 years, LMP has had a leadership role in over 42 million square feet of project development, representing more than $10 billion of investment. The company has executed on 15 projects over $200 million, 50 over $50 million, and has also developed or acquired approximately $3 billion in assets as principals, including research and life science, mixed-use, office, and residential properties. The firm has a dominant presence in the rapidly growing life sciences, higher education and healthcare industries and serves many of the area’s top universities, healthcare systems and biotech companies, including Novartis Institutes for BioMedical Research, Draper Laboratory, Harvard University, Massachusetts Institute of Technology, and Brigham & Women’s Hospital.

About Shawmut Design and Construction: Shawmut Design and Construction is a $1.5 billion national construction management firm with a reputation for completing extremely complex and logistically challenging projects for the most high-profile clients in the industry. As an ESOP (employee-owned) company, Shawmut has created a culture of ownership, proactive solution-making, and forward thinking. Eighty percent of its business comes from repeat clients, proving there is a strong focus on building lasting partnerships.  Shawmut’s unique business model allows project teams to better service clients by focusing their specialized expertise within one of the following areas: Academic, Tenant Interiors, Cultural & Historic, Healthcare & Life Sciences, Hotel, Luxury Homes, Restaurant, Retail, and Sports Venues. Shawmut has offices located in Boston, Providence, New York, Miami, Chicago, Las Vegas, and Los Angeles. For more information, please visit www.shawmut.com.

 

Media Inquiries: 

LMP/DLJ
Caitlin Vanderbilt
caitlin.vanderbilt@lmp.com
(617) 422-7023

Shawmut
Kevin Corsino
KCorsino1@shawmut.com
(857)-225-5274

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Notch Brewing Will Open Second Location at Charles River Speedway Project


Boston, MA
10/22/2019

Notch Brewing recently made the official announcement that they will be opening their second brewery and taproom location at Charles River Speedway next summer.

The brewery will be the anchor tenant for Architectural Heritage Foundation’s rehabilitated historic Charles River Speedway project in Allston. These buildings, which previously housed offices for the Metropolitan Park Commission and horse stables for the Charles River Speedway racetrack, are being reimagined and converted into a new destination for local retail and restaurants.

Charles River Speedway Project Team:

  • Owner/Developer: Architectural Heritage Foundation
  • Development Consultant: Leggat McCall Properties
  • Architect: Bruner Cott Associates
  • Construction Manager: DF Pray
  • Retail Consultant: Graffito SP

Read more at Eater BostonBoston Magazine, and the Boston Globe.

Official Website: Charles River Speedway

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Rob Dickey Discusses Somerville Surge on The Big Dig Podcast


Worcester, MA
9/23/2019

Rob Dickey recently appeared on NAIOP’s Somerville Surge panel to discuss the development boom and transformative projects currently underway in Somerville, including LMP/DLJ’s joint venture at Boynton Yards. Mayor Joe Curatone provided the introduction and spoke about the incredible growth taking place in the city.

If you missed the NAIOP event, they also recorded an episode of The Big Dig podcast along with all of the expert panelists.

  • Molly Heath, Managing Director, JLL
  • Greg Karczewski, President, US2 (Union Square Station Associates)
  • Jordan Warshaw, President, The Noannet Group (Cambria Hotel)
  • Patrick McMahon, Senior Vice President, Federal Realty Investment Trust (Assembly Row)
  • Rob Dickey, Executive Vice President, Leggat McCall Properties (Boynton Yards)
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After 10 Years, Work at CitySquare Enters Final Phase


Worcester, MA
9/8/2019

Leggat McCall Properties was engaged as the development manager and advisor on the CitySquare project in 2009. Now, after 10 years of work, there are only two undeveloped parcels left on the 20-acre site in downtown Worcester.

This week, the Worcester Telegram published an article on potential residential interest in those two parcels in the context of increased development interest in Worcester.

Check out the article in the Worcester Telegram for a great history of the project, which started long before LMP joined the team in 2009, and LMP Executive Vice President and COO, Don Birch’s, assessment of the project and prospects for the undeveloped parcels.

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The Engine to expand into old Polaroid building in Cambridge


Boston, MA
8/27/2019

The Engine, an MIT spinoff that runs a $205M venture fund for “tough tech,” signed a lease with MIT for 200,000 SF in the old Polaroid building at 750 Main St. in Cambridge. The renovated building, which is expected to open by early 2022, will house office, lab, and maker space.

Read more about The Engine in the Boston Globe.

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The Smith Reaches Another Construction Milestone


Boston, MA
8/22/2019

Leggat McCall Properties, along with their joint venture partner BentallGreenOak on behalf of its U.S. Core Fund, management company, Greystar, and General Contractor Suffolk Construction, recently celebrated the Topping-Off of ‘The Smith’, the newest residential community in the South End.  This is just one of many milestones the project has achieved as construction continues. The Smith, set to open in Spring 2020, also just launched a new website: TheSmithBoston.com.

The development and construction teams ceremoniously raise the last beam on the first building, which will include 299 units. This milestone signals the momentum of construction currently underway for the mixed-use residential project, which will in total bring approximately 650 apartment units, including an on-site affordable component, distributed over three buildings.

These luxury apartment homes will boast premium fixtures and amenities, and superior location with proximity to some of the best restaurants in the city of Boston. Approximately 650 homes will host a range of living options, including studios, 1, 2, 3 bedrooms, and 29 penthouses, all with modern layouts and high end finishes. The development will boast expansive amenity spaces, including a roof deck pool with 360-degree city views, private and public courtyards with ample greenspace, skylounge, fitness and yoga rooms, fire features, a pet wash and run, co-working/ work from home and entertainment spaces.

The Smith – named for the South End’s artisan and industrial history in the area south of Washington Street – will also bring an estimated 76,800 sf of new and renovated office space, and roughly 19,700 sf of retail and cultural spaces on the ground floors of the buildings to serve the residents, as well as the surrounding neighbors. Of the 3.1-acre site, 36% will be open space, including a portion dedicated to public park use, and improved thoroughfares and sidewalks that will enhance the way people move in and around the site, creating better access to the surrounding neighborhood.

As part of the retail options available at The Smith, designated cultural spaces will create an opportunity to embrace the vibrant artist community, as well as other unique and historic industrial attributes derived from the South End. The objective is to activate the public realm and provide an amenity that serves the wider neighborhood. The cultural space can be programed for a variety of creative and/or civic uses, and the development team and the Boston Planning & Development Agency (BPDA) are currently working on an RFP to identify the best use for this space.

The Smith sits amid the resurgence of the Harrison-Albany corridor – expanding upon the activity happening throughout the vibrant South End. While the rental apartments will support the South End’s continued growth, the development team is looking forward to bringing the South End an extended sense of community.

“The Smith will create substantial public open spaces, which was identified as a neighborhood desire throughout the community process, and new street-level retail that will greatly improve the pedestrian experience.” said Sam Reiche, Vice President at Leggat McCall Properties. “Our team is excited to hit this next milestone. We thank the city, the South End community, and the entire project team for their input and continued collaboration on The Smith.”

 The site was purchased from the Boston Medical Center in 2014. The design by Boston-based firm CBT intends to complement the existing buildings in the neighborhood, and will be targeting the Silver level under the Leadership in Energy and Environmental Design (LEED).


About BentallGreenOak

BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services.  BentallGreenOak serves the interests of more than 750 institutional clients with approximately $48 billion USD of assets under management (pro forma as of June 30, 2019) and expertise in the asset management of office, retail, industrial and multi-residential property across the globe. BentallGreenOak has offices in 22 cities across ten countries and three continents with deep, local knowledge, experience, and extensive networks in the regions where we invest and manage real estate assets on behalf of our clients. BentallGreenOak is a part of SLC Management which is the institutional alternatives asset management business of Sun Life.

BentallGreenOak includes BentallGreenOak (Canada) Limited Partnership, BentallGreenOak (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates, all of which comprise a team of real estate professionals spanning multiple legal entities.  The assets under management shown above include real estate equity and mortgage investments of the companies within BentallGreenOak.

For more information, please visit www.bentallgreenoak.com

About Leggat McCall Properties 

Founded in 1965, Leggat McCall Properties is a leading real estate owner and developer, as well as service provider to corporate, educational, healthcare, and other clients in the Greater Boston Area. Leggat McCall Properties has acquired and developed more than 10 million square feet of properties, with an aggregate value in excess of $3 Billion. The company specializes in managing development and construction risk, and transforming complex and challenging real estate projects into stable, institutional-quality assets.

About Greystar

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates an estimated $115 billion of real estate in over 180 markets globally including offices throughout the United States, UK, Continental Europe, Latin America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing approximately 500,000 units/beds, and has a robust institutional investment management platform with over $32 billion of assets under management, including nearly $11.7 billion of assets under development. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.Greystar.com.


Media Contact: McDermott Ventures

Maggie Dow |Maggie@mcdvent.com |339.793.3556

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Shy Bird Opens at MITIMCo’s One Broadway Project


Boston, MA
8/21/2019

Shy Bird, a new restaurant with a coffee to cocktails concept, opened this week in MITIMCo’s project at 1 Broadway. This is the first new retail space to open after the repositioning of the building.

As part of the project, the lobby was moved off the corner of Broadway and 3rd to allow for retail activation. The new restaurant is directly connected to the lobby via a 22’ wide x 22’ tall pivoting glass and steel door, allowing the spaces to blend together, and also has outdoor patio seating along Broadway.

Restaurant Fit-Out Team:

  • Architect – HapstakDemetriou
  • General Contractor – CM&B

One Broadway Core/Shell Project Team:

  • Owner – MITIMCo
  • Owner’s Project Manager – Leggat McCall Properties
  • Architect – Elkus Manfredi
  • General Contractor – John Moriarty & Associates

Read more in Boston Magazine.

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Press Release: New Lab Building Construction at Somerville’s Boynton Yards


Boston, MA
7/25/2019

289,000 SF LAB BUILDING TO JUMP START MIXED-USE REDEVELOPMENT OF SOMERVILLE’S BOYNTON YARDS

Nine-story building will attract tech and life sciences to Somerville

BOSTON, July 25, 2019 — DLJ Real Estate Capital Partners (DLJ RECP) in joint venture with Leggat McCall Properties (LMP) recently started construction on a new project in the Boynton Yards neighborhood of Somerville, MA. The project will be a nine-story, 289,000 square foot Class-A lab building located at 101 South Street and will represent the largest state-of-the-art lab development in Somerville’s growing life science market.

Boynton Yards is located adjacent to cultural amenities at Somerville’s Union Square and Cambridge’s Inman Square. The project site is less than one mile from Kendall Square, the epicenter of the biotech/life science industry, and will be a 5-minute walk from the MBTA’s new Green Line Extension (GLX) Union Square subway station when completed in late 2021.

The mixed-use building will match the quality and specifications of other Class-A lab buildings and will provide advanced lab space geared toward emerging life sciences companies. In addition, it will offer abundant open space, engaging dedicated first floor retail, space for community arts uses, and four levels of underground parking. 101 South Street is the first phase of what is envisioned to be an 18-hour, work-live-play neighborhood offering over one million square feet of commercial, residential, and retail uses, arts and performance spaces, and public green spaces. DLJ RECP and LMP are currently developing an overall master plan for the site with the City of Somerville and its planning staff and engineering teams.

“More than four years ago we were drawn to the City of Somerville due to the Mayor’s vision to overhaul the zoning with a transformative city-wide masterplan based on community values including diversity, economy and innovation.  We are excited to lead the new future of Somerville with a modern multiphase commercial development,” said John Fenton, Principal of DLJ Real Estate Capital Partners. “101 South Street will reflect the culture of the area’s professional and artistic community while delivering on the City’s plans to redevelop Boynton Yards into a vibrant, mixed-use district of lab, research, office, multifamily, neighborhood retail and community arts space.”

Construction on 101 South Street will progress over two years. The building’s core & shell is expected to be completed by late spring 2021 with initial tenant occupancy in the summer of 2021, aligning the opening with the completion of the planned MBTA Green Line station in Union Square. The project team includes architects Spagnolo Gisness & Associates and Hashim Sarkis Studios; general contractor Shawmut Design; and leasing agent Cushman & Wakefield.

The redevelopment of Boynton Yards into a modern, commercial hub has long been envisioned by the City of Somerville. “This is a great example of how strong civic leadership, community support and private investment can result in strong economic development,” said Rob Dickey, Executive Vice President of Leggat McCall Properties. “Everyone involved looks forward to witnessing the transition of Boynton Yards from its industrial roots of the last 100 years to a reimagined vital tech and life sciences hub with housing, new infrastructure, streetscape, and open space.”

A ceremonial community event to officially launch the project will be held this fall.

About DLJ RECP:  DLJ RECP is an independent, vertically-integrated real estate investment management firm targeting investment and development opportunities in the dynamic neighborhoods of major US cities. DLJ RECP was founded in 1995 and has offices in New York, Boston, Los Angeles, and Hong Kong. To date, the company has executed over 200 real estate investments with a total transaction value of over $16 billion, representing over $4.5 billion in invested capital. Across DLJ RECP’s 20+ year history, the firm has built a strong track record of success through ground-up development and intensive redevelopment real estate projects. DLJ RECP’s projects include large scale residential, office, and retail developments, as well as historic redevelopment and preservation projects all built to an institutional standard.

About LMP: Founded in 1965, Leggat McCall Properties is a leading real estate owner, developer and service provider to corporate, educational, healthcare and other clients in the Greater Boston Area.  Over the past 10 years, LMP has had a leadership role in over 42 million square feet of project development, representing more than $10 billion of investment. The company has executed on 15 projects over $200 million, 50 over $50 million, and has also developed or acquired approximately $3 billion in assets as principals, including research and life science, mixed-use, office, and residential properties. The firm has a dominant presence in the rapidly growing life sciences, higher education and healthcare industries and serves many of the area’s top universities, healthcare systems and biotech companies, including Novartis Institutes for BioMedical Research, Draper Laboratory, Harvard University, Massachusetts Institute of Technology, and Brigham & Women’s Hospital.

Media Inquiries:
Pamela Jonah
781.956.6865
Pam@JonahPR.com

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BIDMC Breaks Ground on New Inpatient Building


Boston, MA
6/20/2019

BIDMC officially broke ground on their New Inpatient Building last Thursday, June, 13th. This 10-story, 345,000 SF addition at Francis Street and Pilgrim Road on their West Campus will house 158 patient beds, state-of-the-art surgical suites, a relocated helipad, and rooftop green space and healing garden. The building is expected to be completed in 2022.

Read more about the project in the BIDMC press release.

Project Team:

  • Architect: Payette
  • GC: Turner Construction
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MITIMCo’s 139 Main Street Honored at Cambridge Historical Commission Preservation Awards


Boston, MA
5/20/2019

MITIMCo’s 139 Main Street project was honored at the 2019 Cambridge Historical Commission Preservation Awards. The historic Luke Building, a brick and timber structure built in 1874, is one of the last examples of first-generation commercial construction in the City of Cambridge. Leggat McCall Properties served as MITIMCo’s project manager for the restoration, which will house multi-tenant office space for companies looking for shared, collaborative space near Kendall Square.

Congratulations to the entire project team on their work to carefully restore and preserve this historic Cambridge building.

Project Team:

  • Architect: Arrowstreet
  • GC: John Moriarty & Associates
  • Structural Engineer: McNamara Salvia
  • Geotechnical Engineer: McPhail Associates
  • Facades: Building Envelope Technologies
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Brandeis University and Brigham & Women’s Hospital Projects Win CMAA Awards


Boston, MA
5/9/2019

Congratulations to the project teams on the Brandeis University Skyline Residence Hall and the Brigham & Women’s Hospital Helipad on winning CMAA (Construction Management Association of America) New England Project Achievement Awards! LMP was proud to work with Bond, William Rawn Associates, Walsh Brothers, and NBBJ on these impressive projects.

  • Brandeis University Skyline Residence Hall – New Construction Under $40 million
    • General Contractor: Bond Brothers
    • Architect: William Rawn Associates
  • Brigham & Women’s Hospital Helipad Relocation – Renovation/Modernization Under $20 Million
    • General Contractor: Walsh Brothers
    • Architect: NBBJ
    • Helipad Design: FEC

The Skyline Residence Hall also recently won a National AIA Housing Award. Read our full case study on the Skyline project here.

For more information on the helipad project, please see this video produced by BWH.

Photo courtesy of Bond

 

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Rob Dickey Honored by Citizen Schools


Boston, MA
5/1/2019

Congratulations to Rob Dickey, LMP Executive Vice President, on being honored at this year’s Citizen Schools WOW!NOW event celebrating the work of Citizen Schools students and apprenticeship teachers. Rob recently retired from the National Board where he served from 2006-2018 and has been deeply involved in the organization since it was founded in Boston over 25 years ago. 

Over the years, Rob has recruited several LMP team members to serve as Citizen Teachers and we are proud to support Citizen Schools’ work in our community.

You can learn more about Citizen Schools and how to get involved here.

Photo courtesy of Citizen Schools

 

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Long-stalled plans to remake old jail and courthouse may soon proceed


Boston, MA
4/9/2019

The 40 Thorndike team recently sat down for an interview with the Boston Globe. The next project milestone with the Cambridge City Council is fast approaching and we are working hard to reach out to the community.

Our East Cambridge community office is now open to make the project and our team more accessible to the neighborhood. We encourage you to stop by if you’re in the area.

357 Cambridge Street
Cambridge, MA 02141

Read the story at bostonglobe.com

See our full case study for more information about 40 Thorndike

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Leggat McCall Properties Celebrates Women in Real Estate


Boston, MA
3/18/2019

Leggat McCall Properties celebrated women in real estate at our March cocktail party. We asked senior members of the firm to recognize influential women in the real estate world who are driving change in our marketplace. 

The attached slide deck features 21 women from across the spectrum of real estate careers who are shaping the Boston real estate market and the Boston skyline. 

View the honorees presentation here.

 

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The Smith Breaks Ground in the South End


Boston, MA
9/18/2018

Leggat McCall Properties, along with their joint venture partner Bentall Kennedy on behalf of its U.S. Core Fund, and development advisor Bozzuto Development Company, were joined by local elected officials for a groundbreaking ceremony for the mixed-use Harrison Albany Project in the South End.

The Smith – named for the artisan history in the area South of Washington Street – will bring approximately 650 units, including an onsite affordable component, distributed over three buildings. In addition, there will be an estimated 76,800 sf of new and renovated office space, and roughly 19,700 sf of retail and cultural space on the ground floors of the buildings. The surface parking will be replaced with about 650 underground parking spaces. Of the 3.1-acre site, 36% will be open space, with publicly accessible open space representing over 20% of the Project Site.

“The Smith will continue the transformation of the Harrison Albany Block into a vibrant, residential and mixed-use neighborhood, a result of the Boston Planning & Development Agency’s Harrison Albany Strategic Plan,” said Brian Golden, Director of the Boston Planning & Development Agency. “Along with market-rate and affordable residential units, this project will create hundreds of jobs, and bring cultural space and transportation infrastructure improvements to the South End.”

“The Smith creates much-needed new affordable and market rate housing, along with substantial public open space, and street level retail that improves the pedestrian experience.” said William Gause, Executive Vice President of Leggat McCall Properties. “We are proud to have worked so closely with the community in order to build a project that supports the neighborhood’s growth, while also maintaining the integrity of this unique part of Boston.”

“We have been investing in Boston since the 1980s and in the South End since 2007, with the development of 801 Massachusetts Avenue”, said David Antonelli, Executive Vice President of Bentall Kennedy. “In 2014, we acquired this site as part of a portfolio from Boston Medical Center. The Smith is in a clear path of growth leading from Boston’s financial district, and the recent announcements of planned developments in the neighborhood validate our early confidence in this location. With the support of our investors, many of which are Building Trades pension funds, as well as the City of Boston and Mayor Walsh, we are excited to contribute to the ongoing transformation of this vibrant neighborhood.”

“From the streetscape to the façade, The Smith enhances the boutique, curated character and industrial heritage of the South End neighborhood,” said Alfred Wojciechowski, Senior Principal at CBT. “By interlinking pre-existing pedestrian corridors and new curated landscaping, as well as adhering to the neighborhood’s scale and historic quality, The Smith serves as an elegant entryway to the South End and invites community activity by providing a welcoming destination. We’re truly honored to be a part of a project that promises to bring new life to this iconic neighborhood.”

As part of the retail offerings, cultural space will be created for a variety of potential neighborhood uses. The project team views this as an opportunity to embrace the project’s location between the vibrant artist community, historic industrial uses, new small businesses, and the strong residential neighborhood of the South End.

The site was purchased from the Boston Medical Center in 2014. The design by Boston-based firm CBT intends to complement the existing buildings in the neighborhood, and will be targeting the Silver level under the Leadership in Energy and Environmental Design (LEED).

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Leggat McCall Selected as New Partner for Bunker Hill Development


Boston, MA
9/10/2018

The Boston Housing Authority and the Charlestown Resident Alliance have selected Leggat McCall Properties as the new partner for the Bunker Hill public housing development. This will be the largest undertaking in Leggat’s 50+ year history. More information on the project can be found in the Charlestown Patriot Bridge.

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Leggat McCall Properties purchases 107-acre Montvale Hill site in Woburn


Boston, MA
3/7/2018

Leggat McCall Properties has successfully closed on the 107-acre Montvale Hill site in Woburn. The former Kraft Heinz facility is located just 8 miles north of Boston in a highly visible location along Interstate 93.

“We are excited to work with the City to redevelop this shuttered site at the front door to Woburn. We envision a new mixed-use community including commercial, residential and retail spaces which will provide jobs, housing and amenities to the area.”

Bill Gause, Executive VP, Leggat McCall Properties

More details about the transaction can be found in the NKF Capital Markets press release.

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Kendall Square will finally get a supermarket in new MIT Development


Boston, MA
12/14/2017

MIT and Roche Bros. have reached a deal to put a Brothers Marketplace on the ground floor of the MIT owned developement at One Broadway in Cambridge. The project is expected to be completed in 2019.

Read more in the Boston Globe.

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New Science and Engineering Complex opens at Tufts



9/27/2017

The new 175,000 SF Science and Engineering Complex officially opened at Tufts at the beginning of the semester. The $110M project included construction of a new 80,000 SF building as well as renovations of two existing science buildings at Tufts.

You can find more information about the project in our case study and in the article in the Boston Globe.

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Partners Healthcare wins New Construction Workplace Award from CoreNet Global New England


Boston, MA
8/11/2017

The Partners Healthcare project in Somerville has won the New Construction Workplace Award from CoreNet Global New England. Leggat McCall served as the project manager for this new 900,000 sf campus. This mixed-use development includes office space for teams coming from 14 different locations as well as social and collborative spaces.

More information can be found in the awards announcement in the New England Real Estate Journal.

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Novartis Cambridge Campus Named ENR Best Project for Higher Education/Research


Boston, MA
11/22/2016

Novartis’ new Cambridge Campus has been named the best project in the Higher Education/Research category by ENR New England. The 795,000 sf project was designed by Maya Lin Studio in Association with Bialosky + Partners/Toshiko Mori Architect.

For more information, please see the ENR announcement

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Brigham & Women’s Hospital Building for the Future Named ENR Best Healthcare Project in New England


Boston, MA
8/19/2016

The Engineering News-Record has named the Brigham and Women’s Hospital Building for the Future the Best Healthcare Project in New England.

The ENR judges evaluated projects based on the ability of the project team to overcome challenges; the project’s contribution to the community and industry; safety approach; and construction and design quality. The judges also made their selections based on the level of innovation and teamwork on the project. The BBF project will be profiled in the November/ December issue of ENR and there will be an awards breakfast on December 8th in Boston where the BBF will be honored and the “Project of the Year” will be announced from all the sector finalists.

For more information please see the ENR announcement.

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Brigham and Women’s Hospital Wins Preservation Achievement Award


Boston, MA
6/22/2015

Brigham and Women’s Hospital has won the Boston Preservation Alliance’s Preservation Achievement Award for the Brigham Patient Parking Garage and Thea and James M. Stoneman Centennial Park.

The project sought to restore the original Peter Bent Brigham building as a primary entrance into Brigham and Women’s Hospital as originally conceived in 1913 while creating a new green space for the hospital and the surrounding neighborhood.

More information about the project and the Preservation Achievement Award can be found on the Boston Preservation Alliance website

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Governor Baker Visits CitySquare


Boston, MA
6/8/2015

Governor Baker toured progress at the $565 million CitySquare project, one of Massachusetts’ largest public-private partnerships. He praised the MassWorks grant program, which awarded an $11 million grant to Worcester in 2013 to go towards the demolition of the old mall and the renovation of the parking garage at CitySquare.

The project could be completed as soon as mid-2017 and will transform downtown Worcester.

To learn more, see the article in Worcester Magazine.

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Lawrence General Hospital Begins Work On New Surgical Center


Boston, MA
5/29/2015

Lawrence General Hospital broke ground today on what will be a new 50,000 sf surgical facility. The project, which is targeting a LEED Silver certification, is projected to be completed in 18 months.

Dianne Anderson, LGH President and CEO, said, “We are marking the official start of the most ambitious capital project in this hospital’s history. Today we mark the investment of $56 million in the health of this community.”

To read more about the new LGH surgical center, please visit the LGH Website or see the article in the Eagle-Tribune.

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Leggat McCall Joint Venture Acquires 3 Buildings from Boston Medical Center


Boston, MA
12/19/2014

Leggat McCall and partner Multi-Employer Property Trust have closed on a deal to acquire three properties from Boston Medical Center. The portfolio includes 250,000 SF of real estate in the South End.

For more information see the article in the Boston Business Journal.

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At Brigham & Women’s Hospital Building for the Future, construction workers trade hard hats for 3D glasses



11/11/2014

IDG News interviewed the Suffolk Construction team at the Brigham & Women’s Building for the Future project about their use of virtual modeling, CAVE technology and drones.

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Leggat McCall to Purchase 3 Buildings from Boston Medical Center


Boston, MA
10/29/2014

Boston Medical Center has agreed to sell three buildings on or near Harrison Avenue to Leggat McCall Properties, a deal that could fuel additional development in a rapidly changing corner of the South End.

Leggat will acquire 660 Harrison Ave., 100 East Canton St. and 720 Harrison Ave. The transaction also included an option for Leggat to purchase 88 East Newton St. in three years.

Full article in the Boston Globe.

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Massachusetts Green High Performance Computing Center Wins Brownfields Award


Boston, MA
4/8/2014

The Environmental Business Council of New England (EBC) has announced that the EBC James D. P. Farrell Brownfields Project of the Year Award for 2014 will go to the Massachusetts Green High Performance Computing Center development. LMP worked on this project with Turner Construction, M&W Group, MassDevelopment, and a consortium of Greater Boston’s finest academic institutions including MIT, Harvard, Boston University, Northeastern University, and UMass. A full list of award recipients for this project is provided below.

Award Recipients:

  • Haley & Aldrich, Inc.
  • Harvard University Office of Sustainability
  • Holyoke Gas & Electric Department
  • Leggat McCall Properties
  • Massachusetts Green High Performance Computing Center
  • Massachusetts Institute of Technology Department of Facilities
  • MassDevelopment
  • Tighe & Bond
  • Turner Construction Company
  • Vanasse Hangen Brustlin, Inc.

The full text of the EBC press release is below and information about the awards ceremony can be found on the EBC website.

The Environmental Business Council of New England Announces
Environmental and Energy Industry Winners of the 21st Annual EBEE Awards

Press Release Contact: Daniel K. Moon, President, EBC (617) 262-4050 dmoon@ebcne.org

FOR IMMEDIETE RELEASE
April 8, 2014 – Boston, MA – The Environmental Business Council of New England (EBC) is pleased to announce the winners of the 21st Annual EBEE Awards. The winners will be honored on May 21st at the 24th Annual Meeting and 21st EBEE Awards Celebration, being held at the Renaissance Waterfront Hotel in Boston. Bob Varney, Executive Vice President at Normandeau Associates, Inc. and former New England EPA Regional Administrator will serve as the emcee for the program. Registrations are now being accepted on the EBC website: www.ebcne.org.

Each year, the EBC recognizes companies, organizations and individuals for outstanding environmental and energy accomplishments in the promotion of a sustainable, clean environment through the EBEE Awards Celebration. The EBEE Awards are presented each year at the EBC’s Annual Awards Celebration. These awards were established by the EBC to encourage companies, government agencies, non-profit organizations, and environmental professionals to serve as models for others to emulate and, in doing so, further the mission and objectives of the EBC.

The James D. P. Farrell Brownfields Project of the Year Award

This award, established by resolution of the Board of Directors on March 4, 2002, is awarded to a Brownfields project in which an EBC member organization has had significant involvement and that serves as an example of excellence notwithstanding the social, economic, technical and institutional challenges imposed.
To honor and acknowledge the special contribution of James D.P. Farrell to the Brownfields Program, a resolution of the Board of Directors on January 10, 2005 advanced the name of this award to the James D.P. Farrell Brownfields Project of the Year Award.

James D.P. Farrell (1958-2004) actively participated in the EBC Brownfields Committee and Brownfields programs while at the Massachusetts AG’s office where he was chief of the brownfields unit. He was instrumental in making the brownfields redevelopment process work in Massachusetts and was often involved in delicate negotiations among developers, municipalities and former owners of contaminated sites. Jim was admired for his work on complex Superfund negotiations, including negotiations in New England. As a DOJ attorney on the General Electric Pittsfield case, Jim’s ideas during negotiations helped parties reach an unprecedented settlement. Jim’s work for the AG’s office strengthened the partnership between EPA New England and the state. He was a valued member of the South Weymouth Naval Base case team, where he helped bring together representatives of the business, environmental and military communities for site cleanup and redevelopment.

Prior to 1999, he worked in the environmental enforcement division at the U.S. Department of Justice and as an aide to U.S. Senator Warren Rudman of New Hampshire.

The James D. P. Farrell Brownfields Project of the Year Award

Development of the Massachusetts Green High Performance Computing Center

Award Recipients:

  • Haley & Aldrich, Inc.
  • Harvard University Office of Sustainability
  • Holyoke Gas & Electric Department
  • Leggat McCall Properties
  • Massachusetts Green High Performance Computing Center
  • Massachusetts Institute of Technology Department of Facilities
  • MassDevelopment
  • Tighe & Bond
  • Turner Construction Company
  • Vanasse Hangen Brustlin, Inc.

In Recognition of the Remediation of the Former Mastex Industries Site and Development of the State-of-the-Art Massachusetts Green High Performance Computing Center

The Environmental Business Council of New England (EBC) was established in 1990 by environmental and energy company executives who began meeting on a regular basis to exchange ideas and share experiences. The EBC was the first organization in the United States established to support and foster the development of the environmental industry. The goal of the EBC is to enhance business and job growth of both established and emerging environmental and energy businesses. For more information, please contact Ann Gisinger at (617) 505-1818 or ebc@ebcne.org.

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