Related Beal seeks to expand the Fenway’s lab space inventory with changes to its 300,000-square-foot redevelopment in Kenmore Square.

The developer says it’s reconfiguring designs of a new office building approved in 2018 to include lab and R&D uses, while reducing retail space. The modified program calls for 127,700 square-feet of lab space and 8,560 square feet of retail space, according to filing with the Boston Planning and Development Agency.

In 2018, the BPDA approved the project including an 8-story building with 119,000 square feet of office space at 533-541 Commonwealth Ave., and a 7-story building containing 125,000 square feet of office space at 650-660 Beacon St. Related Beal ground-leases the parcels from Boston University.

Conversions of office buildings to lab-ready space are sweeping through Greater Boston as developers reposition buildings amid uncertainty about companies’ return-to-office timelines in the pandemic.

The 1.8-million-square-foot Fenway/Longwood lab submarket currently has a 0-percent vacancy rate, according to research by Cushman & Wakefield.

Boston-based Samuels & Assoc. also is betting on the Fenway’s potential to attract more life science companies, breaking ground in February on a 500,000-square-foot office-lab tower at 201 Brookline Ave. That property already has attracted leases from Tango Therapeutics and venture capital firm Third Rock Ventures.

Kenmore Project Seeks to Shift on the Fly to Labs

by Steve Adams time to read: 1 min
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