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A property at a gateway to Boston’s transforming Newmarket neighborhood is pitched a test case for a new mixed-use redevelopment, including subsidized space for industrial companies at risk of displacement.

The redevelopment of the 1.2-acre site at 17 Bradston St. would include a mix of office, health care, R&D, advanced manufacturing and back-of-the-house space for pharmaceutical companies, according to a notification letter to the Boston Planning and Development Agency.

The property ownership includes a realty trust affiliated with Brookline-based City Realty, according to public records.

“The project embodies economic development, placemaking and social stabilization. Its commercial components will contribute robustly to this irreplaceable industrial area of Boston,” attorney Donald Wiest of Dain Torpey wrote in the notification letter.

The mid-rise development near the Suffolk County House of Corrections would reserve ground-floor space for “historic uses that have been deemed at risk,” according to the filing. The approach is similar to that in South Boston’s Raymond L. Flynn Marine Park, where new zoning is designed to retain industrial companies on lower floors while permitting office and lab space.

Developers also will offer subsidized space for job training and at-risk industries.

The industrial economy in Newmarket faces increasing pressure from rising rents and declining vacancy rates, similar to the displacement of industrial tenants by multifamily housing and higher-renting commercial uses in areas such as South Boston’s Dorchester Avenue. Newmarket’s industrial vacancy rate is below 1 percent, according to recent data by real estate researchers CoStar.

In 2020, the Boston Planning and Development area launched a Plan: Newmarket study that is considering rezoning the district to take into account changing real estate demand, including expansion of life science uses.

Developer Pitches Industrial-Commercial Hybrid in Newmarket

by Steve Adams time to read: 1 min