The Cambridge Planning Board has granted final zoning approval for Alexandria Real Estate Equities Inc.’s life science development, known as the Binney Street Project.
The Binney Street Project is an 11.3-acre development that will consist of approximately 1.72 million square feet of office/laboratory space and other mixed uses. It will include a mixed mode transportation center and more than two acres of public open space for the East Cambridge community.
Once completed, the project will have five life science facilities in addition to the preservation of existing historic buildings. All buildings will be LEED certifiable, employing state-of-the-art design and technology featuring sustainable operations including high-efficiency mechanical systems, rooftop storm water management and water-efficient landscaping.
The development in Cambridge’s Kendall Square will be utilized by Massachusetts Institute of Technology, Whitehead Institute for Biomedical Research, the Broad Institute and Harvard University, according to a statement.
"The Binney Street Project is one of the most important developments of its kind and will further enhance Cambridge’s position as a world leading center for life science research and development," said Tom Andrews, senior vice president and regional market director of California-based Alexandria Real Estate Equities. "We have worked closely with the city of Cambridge on this project and look forward to moving forward with the development of a truly unique, world-class life science cluster that will attract leading research organizations, pharmaceutical and emerging biopharmaceutical companies to an already vibrant broad and diverse life science community."
Alexandria Real Estate Equities Inc. has a presence in the Cambridge market, with more than 2.1 million square feet of office/laboratory space and more than 60 client-tenants, including GlaxoSmithKline Inc., Massachusetts Institute of Technology, Novartis AG, Pfizer Inc., Biogen Idec, Dyax Corp., Alnylam Pharmaceuticals Inc. and Thermo Fisher Scientific Inc.
