Lendlease and Ivanhoé Cambridge Seek to Build Life Science Complex at Boston Landing
Posted on 03/18/2021
Lendlease and Ivanhoé Cambridge are teaming up to develop a 1.15-acre project featuring a state-of-the-art life science building, located at 60 Guest Street, a land parcel in the Boston Landing campus in Allston/Brighton, Massachusetts. Ivanhoe Cambridge is the real estate unit of Caisse de depot et placement du Quebec (CDPQ). The site is in close proximity to Cambridge’s Kendall Square, the epicenter of the life science market in Greater Boston and across North America. The Lendlease and Ivanhoe Cambridge partnership acquired the site from NB Development Group, LLC. NB Development Group is the real estate development arm of New Balance Athletics, an American sports footwear and apparel brand that was established in 1906. James S. Davis is an American billionaire businessman, the owner and chairman of New Balance.
The partnership has retained SGA Architects, a Boston-based life science firm to design the project.
Location: 60 Guest Street, Boston, MA 02135.
The life science development project will have an estimated US$ 500 million end value upon completion and the construction of the project is targeted to commence in June 2022, according to Ivanhoe Cambridge.