This year, there was no shortage of news to report on the life science developments underway across New England. According to Cushman and Wakefield’s 2022 Q1 Life Science Update, in Boston alone, nearly 15 million square feet of lab product is either under construction or is in preconstruction. The report states that by 2025, lab product is likely to exceed 40 million square feet.
Anastasia Barnes
Kevin Chronley of A/Z Corporation refers to this booming industry as the ‘Big Wave’ and suggests ways to overcome supply chain challenges and increasing inflation to deliver a successful life science building. Read his article, which starts off our Life Science section, on page 16.
One particular project that has yet to be approved by the City of Boston (but has my vote) is from the joint venture of The HYM Investment Group and My City at Peace (MCAP). My most recent podcast guests were Tom O’Brien of HYM and Rev. Jeffrey Brown of MCAP who joined me to discuss this unprecedented proposal, which includes 700,000sf of life science space.
Bringing the life science space into this neighborhood would not only create 2400 jobs but would generate a $124,000,000 cross-subsidy that would be reinvested directly into the on-site affordable housing. A large portion of those affordable housing units would allow the residents of Roxbury to buy the units at an affordable price, and if and when those residents wanted to sell their units, they could sell them at market rate, creating generational wealth for a community that would otherwise not have the opportunity. Read the synopsis of my interview on page 37 or find the latest episode online at buildbetter.space.
This issue is also devoted to AEC industry awards. AGC Massachusetts, ABC New Hampshire/Vermont and Preservation Massachusetts are just a few organizations that shared their award winners with us. Turn to page 22 to read more about the awards.
Have you noticed that we have added “Training and Recruitment” to our monthly sections? The labor shortage in our industry, across all disciplines, is very real. We want to highlight what companies and organizations are doing to encourage and enable the next generation of AEC professionals to succeed. Be sure to let us know what your firm is doing, and read about IBEW Local 103 and NECA’s new class of electrical and telecommunications apprentices on page 43!
Lastly, HP will be turning 25 in September and we have some exciting opportunities for storytelling and brand exposure in our special anniversary supplement. Stay tuned for more info!
Enjoy your summer, and as always, enjoy the read.
Anastasia Barnes
