Related Beal, the Boston-based real-estate development arm of New York’s Related Cos., on Monday formally proposed a 1.1 million-square-foot mixed-use development adjacent to the Gillette World Shaving headquarters in South Boston.
Related Beal plans over 1M square feet of housing, office and lab space next to Gillette
Related Beal Formally Launches 1.1M SF Fort Point Channel Mixed-Use Plan
Months after General Electric nixed plans for a 12-story second phase to its Fort Point headquarters, the Fort Point Channel waterfront is still on track to become a major construction zone.
Related Beal’s Fort Point plans include lots of lab space
One of the animating trends in Boston-area real estate right now—and for the foreseeable future—is the development and marketing of lab and office space for life sciences firms. Such space is underpinning new developments and redevelopments of existing property throughout Boston proper and in Somerville, Watertown, and other surrounding communities. It’s simple demand: The life sciences/biotechnology industry is one of the biggest and most lucrative in the Boston region—and it’s growing.