Harvard Allston Land Company and Tishman Speyer Celebrate Breakthrough of Multi-Use Enterprise Research Park Project: NEREJ

Harvard Allston Land Company and Tishman Speyer Celebrate Breakthrough of Multi-Use Enterprise Research Park Project: NEREJ

Alston, MA Harvard Allston Land Company (HALC) and Tishman Speyer joined forces on November 1street Organized by Harvard University President Claudine Guy, Mayor Michelle Wu and a group of local community leaders to celebrate the start of construction on the first phase of the Enterprise Research Park (ERC), a nine-acre mixed-use project.

The first phase of the ERC, which was approved by the Boston Planning and Development Agency (BPDA) in 2022 after an extensive community engagement process, will include two laboratory buildings dedicated to scientific research and development, a 343-unit rental apartment building, a hotel and more than two acres of Community-oriented public outdoor spaces. Tishman Speyer, on behalf of Harvard, will also develop the log David Rubenstein Treehouse as a campus-wide conference facility. The conference center will provide a space for industry partners, visiting researchers, and guests from around the world to collaborate with faculty and students to discuss issues at the forefront of their fields.

“Today, we are a big step closer to realizing our shared vision for an exciting expansion of the Allston community,” said Rob Speyer, CEO of Tishman Speyer. “The Enterprise Research Park will be a place where creativity sparks and life-changing discoveries are made. This mixed-use development will welcome everyone – with a vibrant Greenway, new apartments, a hotel, and an active retail and food and beverage programme. We look forward to delivering this landmark project.”

“As this new innovation corridor continues to emerge, we are fueled by some shared principles – harnessing creativity and invention for the good of the world, ensuring opportunities spread far and wide, and most importantly, celebrating Allston as a place for everyone,” Jay said. “Every element of ERC is the result of deep engagement with the city of Boston and with this neighborhood. The open spaces, affordable housing, and workforce opportunities that will define this community will lay the foundation for a prosperous future,” she continued.

“This campus will be a place where ideas and people can flourish, where cutting-edge research can be translated into real-world solutions,” said Carl Rodriguez, CEO of HALC. “More importantly, it will also be a welcoming place for our local community to enjoy and engage in a culture of innovation with our students and members.” Faculty and industry partners.

The European Research Center, adjacent to Harvard Business School and the Harvard Science and Engineering Park, will include local retail and restaurants, as well as actively programmed open space that will host an array of public events, such as farmers markets, concerts and outdoor fitness centers. Layers.

As part of a landmark agreement with the City of Boston and BPDA, 25% of all new housing units in Phase 1 will be affordable to individuals and families earning between 30% and 100% of the Area Median Income (AMI). This commitment will ensure that the price of the ERC is affordable to a wide range of local residents.

Breakthrough Properties, a joint venture between Tishman Speyer and Belco Capital, will develop, lease and operate 440,000 square feet of laboratory and office space in two ERC buildings. Designed to support cutting-edge biotechnology and pharmaceutical companies at all life cycles—from early-stage to growth stage to major global enterprises—the ERC will be the premier location for companies developing life-changing technologies that want access to top researchers and potential partners at Harvard. .

This initial phase of the ERC development was designed by a group of renowned master planning and architecture firms, including Studio Gang, Henning Larsen, Utile, Marlon Blackwell Architects, MVRDV, Moody Nolan, Arrowstreet and Scape Landscape Architecture.

The joint effort between Tishman Speyer and HALC has led to several unique accomplishments. The two organizations collaborated on one of the largest inclusion investment initiatives in Boston’s history for the project. The initiative brought more than 150 Black and Hispanic individuals and families, including a number of Boston locals, to ERC ownership. The combined group contributed more than $30 million in equity investment to the venture.

Diversity and inclusion were also an integral part of the project. The procurement resulted in more than 30% of pre-construction costs and more than 15% of total construction costs being awarded to minority and women-led businesses. Tishman Speyer will also curate a dynamic ground floor experience featuring small, local, minority and women-owned retailers.

Additionally, Tishman Speyer facilitated partnerships between construction companies as a way to ensure minority-owned businesses meaningfully participate and reap long-term benefits from their participation in the project. For the laboratory buildings, Turner Construction is partnering with Janey Construction Management and J&J Contractors. The residential and hotel components are being constructed through a partnership between Consigli Construction and Smoot Construction.

The Emirates Red Crescent Authority, which is targeting LEED Gold certification, will support the sustainable future of the region by creating climate-resilient and environmentally friendly buildings using low-carbon construction methods.

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