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.
The developer of a 19-story lab tower in Somerville’s Assembly Square is seeking an extension to redesign the project following a change of ownership and continuing sluggishness in life science leasing.
The nation’s largest apartment developer chose Somerville for its entry into life science development, kicking off its first project in the emerging Assembly Square lab cluster.
A development team has redesigned the proposed 313,500-square-foot Boynton Gateway lab building in Somerville to reduce shadows on a neighboring condo complex.
A 353,000-square-foot lab project will begin in Somerville’s Boynton Yards after receiving $246 million in construction financing.