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Bakery-to-Biotech Redevelopment Gets $194M Construction Loan

By Steve Adams | Banker & Tradesman Staff | May 5, 2022 | Reprints | Unlock Link

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Image courtesy of SGA and DREAM Collaborative

Redevelopment of the Au Bon Pain headquarters in South Boston’s marine park for Ginkgo Bioworks received $194 million in construction financing from Citizens Bank.

Marcus Partners is constructing a new 262,468-square-foot life science campus on parcels O and P near the eastern end of the Seaport District after securing a lease from researcher Ginkgo Bioworks for its expansion. The project replaces the Au Bon Pain headquarters and bakery.

Scheduled for completion in 2024, the project will include 14.5-foot floor-to-floor heights and sustainable energy systems.

Developers were among the first to pay into the city’s climate resiliency fund, which will pay for future infrastructure projects including an estimated $124 million seawall designed to protect the 191-acre Raymond L. Flynn Marine Park from rising seas.

B&T Daily