With the new year upon us, Boston’s commercial real estate market is gearing up for an eventful 2023. Several projects are currently in the works to make the city’s most vibrant areas even more attractive to visitors and residents in the months ahead.
Massachusetts Turnpike Developments
Multiple projects are underway along the Massachusetts Turnpike, aiming to make the area more walkable and pedestrian friendly.
Among the projects is Boston firm Samuel & Associate's Parcel 12 development, consisting of two buildings connected by a plaza. Parcel 12 will include approximately 325,000 sq. ft. of office space, 70,000 sq. ft of retail and restaurant space, and 150,000 sq. ft. of residential or hotel real estate.
Developer IQHQ is moving forward with another project along the turnpike, the Fenway Center, which will contain 720,000 sq. ft. of lab and office space dedicated to life sciences. The center will consist of one 22-story high-rise building and one 12-story mid-rise building.
New Lab and Office Development in South End
Boston real estate development and management company, The Druker Co., has proposed the construction of two 150 ft. lab and office buildings on Washington St. in Boston’s South End. The project would span 588,000 sq. ft. and include a landscaped pedestrian plaza connecting Washington St. and Shawmut Avenue.
Apartment Complex Breaking Ground
Boston-based firm V10 Development is scheduled to break ground on The Cove, a 173-unit apartment building near Polar Park in Worcester’s Canal District. The project will have seven stories, totaling 203,000 sq. ft. once completed.