MITIMCo real estate development (expected over next decade)
MITIMCo real estate development (expected over next decade)
640 Memorial Drive (renovation in progress): MIT has executed a lease with Sanofi-aventis, an international pharmaceutical company, to move their oncology headquarters to half of this building, located past the far western edge of campus. Sanofi-Aventis will make the move this fall.
130 Brookline Street (restoration design plans completed, actively marketing to tenants): MITIMCo plans on converting this industrial building into 45,000 square feet of laboratory space. MITIMCo’s Steven C. Marsh says he would like to see the conversion begin “as soon as possible.”
300 Massachusetts Ave. (zoning petition submitted to Cambridge City Council): Forest City Boston will develop the property north of Random Hall — part of the block between Blanche and Landsdowne Streets — into an office and laboratory facility with ground-floor retail space.
Massachusetts Ave. Novartis Campus (planning in progress, zoning petition submitted, key architect selected): Novartis Institutes for Biomedical Research will construct a new east campus — across the street from their existing one — designed in part by Vietnam War Memorial architect Maya Lin.
610 Main Street (actively marketing to tenants): 418,000 square feet of office and laboratory space will be built on what is now a parking lot. “I would really like to see [this] get underway this year,” said Marsh.
Kendall Square Development (zoning petition submitted): MIT is seeking to redevelop a substantial portion of the Kendall Square area on the eastern side of campus. MIT has proposed 880,000 square feet of new commercial space, 800,000 sq. ft. of academic space, 120,000 sq. ft. of residential space, and 100,000 sq. ft. of retail space. Marsh says the Kendall Square initiative is aimed at making the area surrounding MIT more attractive to high-tech, research-oriented companies.