$1 billion biotech center gets Cambridge approval

Just in case you thought there wasn’t quite enough biotech in Cambridge, Massachusetts: last week the City of Cambridge okayed another 160,000 square metres of office and laboratory space for a biotech complex.

The project will extend along Binney Street, which runs by the headquarters of Genzyme and Biogen Idec. Future occupants of ‘The Binney Street Project’ may also rub shoulders with scientists from the nearby Massachusetts Institute of Technology, as well employees of Novartis and Amgen. And let’s not even try to list the hundred-plus tiny biotechs huddled in former industrial buildings scattered around the area.

Last Thursday, the Binney Street Project’s sponsor Alexandria Real Estate – the self-proclaimed “Landlord of Choice to the Life Science Industry®” – announced that Cambridge had approved the project, which had been hung up for a while over zoning concerns (Alexandria envisions buildings that are taller than typically allowed in the area). No word yet on when the complex is to be completed or, for that matter, even begun.

For more on the history of the Binney Street Project, check out Xconomy’s old posts here and here.

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