LMP Hits Pause on Somerville Lab Project
A third major Somerville lab development is hitting the brakes amid the growing glut of life science space in the city.
A third major Somerville lab development is hitting the brakes amid the growing glut of life science space in the city.
After leasing up their first lab tower and receiving $246 million in construction financing to start a second, Boynton Yards developers are moving forward with a third lab tower in the 1.9 million-square-foot master-planned project.
Developers unveiled designs for a 242,000-square-foot life science tower rising among a stretch of strip malls and parking lots along Somerville’s McGrath Highway.
Somerville officials have backed a developer’s plans for a life science development wedged between the MBTA Green Line Extension and McGrath Highway.