Marcus Partners inaugurates the Seaport Life Sciences project

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Paul Marcus of Marcus Partners speaking at the groundbreaking.

Standing in front of an Airstream bus converted into a lab, Marcus Partners executives celebrated the start of construction on an adaptive life sciences reuse project in the booming Seaport neighborhood on Thursday.

The development, dubbed Foundry at Drydock, will transform a one-story manufacturing facility into an eight-story, 262K SF life sciences project. The building is fully leased to Ginkgo Bioworks, a Boston-based cellular programming platform headquartered nearby in the Innovation and Design building. It should be completed in 2024.

Located on Fid Kennedy Avenue, the project will be part of the Boston Planning & Development Agency’s Raymond L. Flynn Marine Park in the Seaport. The project team includes John Moriarty & Associates, SGA and DREAM collaborative. The developer secured a $200 million construction loan from Citizens Financial for the project.

“The Drydock smelter is Marcus Partners’ first project in this area,” Paul Marcus, CEO of Marcus Partners, said at the event. “Through very smart planning over the years, as it is known today, the Raymond L. Flynn Marine Park remains at the forefront of the city’s economic development and we are happy to be part of this ever-evolving ecosystem. evolution.

At the grand opening, the team announced a new partnership with BioBus, a New York-based nonprofit that works with underrepresented school children to teach them about science and technology. The team plans to donate $200,000 to Biobus, with the goal of expanding its educational services to Boston and the Greater New England area. The company uses converted Airstream buses that travel to various schools in the area.

Reserved area

Bisnow/Taylor Driscoll

Marcus Partners celebrated the start of construction at the foundry site in Drydock, a new life sciences building in the seaport.

The smelter is also the first Seaport project to commit to the Boston Climate Resilience Infrastructure Fund, established to provide financial support to mitigate the impacts of sea level rise and climate change. climate change for all RLFMP tenants.

The project also met BPDA’s diversity, equity and inclusion requirements by partnering with Maven Construction, a women-owned construction management company BIPOC, and DREAM Collaborative, an architectural firm belonging to BIPOC.

Ginkgo Bioworks went public with a $17.5 billion SPAC deal in September, and the following month announced it had extended its lease to the Foundry project.

“We hope this expansion will provide us with the significant capability we need as we serve our growing ecosystem of developers using biology to address the world’s most pressing challenges,” said Co-Founder and Chief Technology Officer of Ginkgo Bioworks, Barry Canton, in the press release. “The advanced technology deployed in the Foundry enables the innovative and meaningful work our teams do every day to innovate in industries as diverse as pharmaceuticals, agriculture, food, materials and more.”

The Seaport is the largest life sciences submarket in Boston with 2.4 million square feet of inventory, and it had 0.8% vacancy last quarter, according to Colliers. While some projects like the Foundry landed full tenants before starting construction, others started on spec, like 10 World Trade, a 555K SF project from Boston Global Investors that began in April.

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