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