BOSTON — New York City-based real estate giant Tishman Speyer has broken ground on Phase I of Enterprise Research Campus, a 900,000-square-foot mixed-use project that will be located in the Allston neighborhood of Boston.
The nine-acre site is adjacent to the Harvard Business School and Harvard Science & Engineering Complex in Allston. New York City-based Otera Capital led a syndicate of lenders that provided $750 million in construction financing for the project earlier this year.
Phase I of the development will consist of two life sciences buildings totaling 440,000 square feet, a 343-unit apartment complex and a hotel, all of which will be developed on a nine-acre parcel. Within the multifamily component, 25 percent of the units will be designated as affordable housing for households earning between 30 and 100 percent of the area median income.
Tishman Speyer will also develop, on Harvard University’s behalf, the mass-timber David Rubenstein Treehouse to serve as a campus-wide conference facility. Turner Construction is partnering with Janey Construction Management and J&J Contractors to build the life sciences portion of the project. A partnership between Consigli Construction and Smoot Construction is building the multifamily and hotel portions of the development.
At full build-out, Enterprise Research Campus will also include retail and restaurant space, as well as two acres of open green space that will host farmers markets, live music and outdoor fitness classes. Tishman Speyer is developing the project in partnership with the Harvard Allston Land Co. Full completion of Phase I is slated for 2026.
— Taylor Williams