Real Estate

Greater Boston Real Esate

Check Out RW Holmes’ Latest Quarterly Report for Valuable Greater Boston Real Estate Market Insights and Trends

They dive into each of the following markets:
• Rt. 128 Central Office Market
• Rt. 128 North/Rt. 3 North Office Market
• Natick/Framingham Office Market
• I-495 West Office Market
• Rt. 128 North/Rt. 3 North Industrial Market
• I-495 South Industrial Market
• Rt. 24 Industrial Market

Plus:
• Market Spotlight: The Re-invigoration of Fenway  

Read the report here.

MassBio BioReady Community

Chelmsford is BioReady

Chelmsford is now a Platinum-rated community for biotech

Chelmsford, Massachusetts—The Town of Chelmsford has achieved the highest rating possible of Platinum status to announce their support to hosting and expanding the bio-tech industries in their community. This was achieved by modernized zoning bylaws with overlay districts, expedited permitting process, public and accessible infrastructure to include currently established biotechnology businesses. 

“Chelmsford efforts to position themselves as a Platinum-rated BioReady community serves as a testament to the town’s ability to support the life sciences industry and foster its continued growth,” said Ben Bradford, Vice President of Economic Development and Membership, MassBio. “This area, located just 35 minutes from the state’s biotechnology hubs, boasts incredible access to higher education, a skilled workforce, public transportation, and much more. We are excited to see the progress Chelmsford makes as the next biotech mini-cluster.” ~ Ben Bradford, Vice President of Economic Development, MA Biotechnology Council.

“The Town of Chelmsford is the base location to many advanced technologies and progressive scientific companies, such as; Zoll Medical, Brooks Automation, TeleFlex, 3M to name a few. Our partnerships with UMass Lowell, Middlesex Community College and the vocational schools provide an excellent system for skilled growth and collaboration. It’s time that the Chelmsford Cross Roads at Route 129 be considered as the competitive advantage that it is with more affordable real estate options, network of modern businesses and a municipal team ready to assist.” ~ Paul Cohen, Chelmsford Town Manager.

The Town of Chelmsford will join the other Platinum communities in the region of Route 3 / Route 495, alongside Bedford, Billerica, Burlington, and Lowell, all Middlesex 3 Coalition communities, which the town views as a pivotal partner for attracting businesses to the community.

The Chelmsford Business Development Office is striving to attract industry-leaders from the biotechnology world to our available spaces. Site tours, technical project reviews, Route 129 stakeholder group meetings are available; learn much more at https://chelmsfordcrossroads129.com/.

“The Route 3 / Route 495 region provides abundant resources, from the Middlesex 3 Coalition, MassEcon, MA Office of Business Development, MA Biotechnology Council, to the Greater Lowell Chamber of Commerce and more.“ ~ Lisa Marrone, Director of Business Development.

Communities are ranked on a scale of Bronze, Silver, Gold or Platinum, and the system helps Massachusetts cities and towns market themselves to biotechnology companies looking to expand or relocate. As part of the campaign, the MassBio’s Innovation Services (MBIS) enables deeper connections and pursuits. To learn more and view full ratings criteria, visit MassBio’s BioReady® Communities web page at https://www.massbio.org/initiatives/bioready-communities/.

Hartwell Avenue Rezoning Lexington

Hartwell Innovation Park Rezoned for Increased Life Sciences Development

Lexington, MA (February 3, 2021) — With recent approvals by the 2020 Special Town Meeting that increased the density and established the district boundaries, Hartwell Innovation Park (C-HIP), Lexington’s commercial rezoning effort, is well underway. 

The approvals will be followed by a presentation to the 2021 Annual Town Meeting to establish a streamlined and transparent permitting process to grant permits in 60 days or less, an increase in the number of allowed uses and uses by-right, and the implementation of design standards. 

The rezoning of Hartwell Avenue and Bedford Street is envisioned to attract light manufacturing, research & development, life sciences companies, along with amenities that support the C-HIP workforce.

With an exponential demand for lab space in the Greater Boston area and a supply shortage in Lexington, the C-HIP Zoning has been developed to meet the ever-changing demands of the market while ensuring a predictable and transparent permitting process. Once the commercial rezoning efforts are completed, the C-HIP Zoning District is expected to lay the foundation for the future of one of Lexington’s most extensive and inclusive commercial districts for research & development and light manufacturing. 

C-HIP Rezoning Project Timeline

  • 2018, Lexington developed the Vision of Hartwell: The Vision of Hartwell focuses on underutilized land, trails and open space opportunities, infill development, redevelopment and reinvestment of existing buildings, sustainable development, space activation, streetscape enhancements, increased number of allowed uses, transportation, and off- street parking.
  • Special Town Meeting of 2020: Lexington Town Meeting voted to adopt Article 16, presented as a Citizen Article. Article 16 increases the maximum allowed building height from 65 feet to 115 feet; removed both a maximum Floor Area Ratio (FAR) and lot coverage; decreased minimum lot area from 3 acres to 20,000sf; in addition to establishing a uniform Manufacturing (CM) District.
  • September 2020 through January 2021: The Town of Lexington hosted a series of public listening sessions and information sessions to both listen to comments from the Lexington community while providing education regarding the project. Public engagement included 14 sessions, with approximately 370 attendees.
  • February 1, 2021: the provisions of Article 16 become active, pending approval by the Attorney General.
  • February 2021: the Lexington Planning Board will hold a series of public hearings for Article 45 of the Annual Town Meeting, the C-HIP zoning efforts associated with an expansion of uses, the establishment of design standards, and a streamlined permitting process.
  • Annual Town Meeting of 2021 – Article 45: Town Meeting will vote on the C-HIP rezoning effort recommended by the Planning Board. The C-HIP is a collaborative effort of municipal employees, landowners, boards, commissions, and committees, along with the Lexington community working to Create the HEART of Hartwell. The C-HIP is expected to lead by example for future development while setting the bar for doing business in Lexington.

For more information about Hartwell Innovation Park and the associated rezoning efforts, please visit the Town’s website at www.Lexingtonma.gov/HartwellRezoning or www.HIPLexington.com.

NEREJ

One-on-One Interview with Stephanie Cronin

Middlesex 3 Coalition and Executive Director Stephanie Cronin were recently featured in the New England Real Estate Journal for its series, One-on-Ones with Rick Kaplan.

The Journal produces the program, which spotlights community and business leaders for the series. Stephanie was tapped to talk about the work M3 does in the region, and with the NEREJ, which has partnered with the Coalition to host the annual M3 / NEREJ RE Forum.

View the interview on Youtube here:

Building V at Northeastern's Innovation Campus

New Building V Opens on Northeastern’s Burlington Campus

This new, $70 million, mixed-use research building features 40,000+ square feet available for co-located university, industry, and government research partners, convening space for 350 people, and 10,000 square feet of makerspace. The building is equipped to serve the needs of Innovation Campus partners. The facility is an open hub for future efforts in Northeastern’s drive for research excellence in health, security, and sustainability.

For more information about the campus, please visit the Northeastern University Innovation Campus website. To inquire about convening space, please contact Carol Sumner, [email protected].

Burlington Town Meeting Okays High Rise Industrial Zoning Changes

Burlington – Patch – Burlington town meeting voters approved four zoning bylaw articles related to the high-rise industrial zoning district, at Monday’s meeting. One amendment changed the district’s dimensional rules, while the other three added parcels to the district, doubling the number of parcels covered by the rules. The articles were geared toward driving life sciences development in the town, according to the articles’ advocates. Read More…