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Life Science Not Done Expanding
Auction (May26) BOS
   
April 25, 2013
 
 

Life Science
Not Done Expanding


With the metro area's life science market growing like bamboo on steroids, we thought it was a good time for Bisnow's 3rd annual Life Science Summit. It'll have the latest news on who's building, buying, and leasing space, from experts including Forest City Science & Technology Group president Frank Wuest.

4.25.13 framk wcroped.jpg
A pioneer in developing life science space here, Forest City's 1.3M SF University Park only has 25k SF vacant and is developing 250k SF of expansion space for a major tenant (500k SF), Millennium, The Takeda Oncology Company. The new $150M lab/office building at 300 Massachusetts Ave will be adjacent to University Park and across the street from Novartis' new project. (In case they want to pull pranks on their neighbors.) Frank isn't worried about Boston overtaking Cambridge as the center of this market. To the contrary, Frank says the vitality of Cambridge—and Boston—enhances the strength of the entire metro-area life science cluster. Hear more at our event, May 7 at the Boston Marriott Cambridge. (Registration info coming soon.)
CohnReznick (May6) MBOS


New Spaulding, New Treatment Approach

Spaulding Rehab Center, Location: Boston MA, Architect: Perkins + Will
Partner's Healthcare gave the public a glimpse yesterday of its new $225M, 262k SF Spaulding Rehabilitation Hospital in the Charlestown Naval Shipyard, Boston's first new replacement hospital to be built in at least 30 years. The timing is fortuitous. Already, Spaulding is treating several Marathon Day bombing victims and anticipates admitting more over the next two weeks, spokesman Tim Sullivan tells us. The Spaulding, and architect Perkins & Will, designed the 132-bed facility, which officially opens on Saturday, to deliver a new type of rehabilitative care that centers around patients with varied levels of physical ability.

4.25.13 spaulding therpy garden
Inside the hospital 17 years in the making, every private and public space is configured to aid healing and navigation. Each patient room is private and they line the exterior of the building to receive maximum daylight. Closets allow for 180-degree opening so a patient in a wheelchair can have full access. Sinks are shallow for minimal reaching and all fixtures are motion activated. Outside, wheelchair cutouts are incorporated into the seating design. In the outdoor therapy garden (above), patients can learn to navigate a variety of surfaces: sand, cobblestones, concrete stairs and a boardwalk. The hospital is already certified LEED Gold and features safeguards against flooding from storms and rising sea levels.


Live from BLIS!

nasseta
Hilton Worldwide CEO Chris Nassetta (right, either punctuating a point or revealing which hand was hiding Pircher, Nichols & Meeks partner Gene Leone's dollar) spoke to over 600 attendees at our 2nd annual Bisnow Lodging Investment Summit (BLIS) yesterday and today. Chris says there's exponential growth potential overseas and 60% of Hilton hotels are outside the US. Fun fact: The company was the first to introduce the world to the piña colada, invented in San Juan's Caribe Hilton. We can't wait to see what new drink this expansion will bring.

industry
Optimism was the word on our state of the industry panel, featuring Goulston & Storrs partner John Ratino, STR Global SVP Jan Freitag, Lodging Econometrics SVP Bruce Ford, Hotel News Now editor in chief Patrick Mayock, Expedia SVP Melissa Maher, and LW Hospitality Advisors CEO Dan Lesser. Most telling is the number of rooms under renovation, which will see 40% growth this year and is seven to eight times the number under new construction (which will grow 20%)—that's 400,000 rooms being spiffed up this year, says Bruce. See more coverage in our Hotel Sheet.


Climate Experts Warn: Remember Sandy

4.25.13 hubert
Partners' Hubert Murray, who led the sustainability program for the new Spaulding, appeared at a recent Massachusetts Building Congress event on climate change. He explained that to prevent storm and water damage, Spaulding is raised 30.6 inches above the 500-year flood level. Much of the electrical equipment is on the roof, and all patient rooms have operable windows that can be keyed open. But, he cautioned, even this carefully planned hospital depends on the city's power grid, utilities and surrounding transportation infrastructure to be sound and flood resistant. The longer we delay investing in that, he warns, the more easily we could be hobbled by extreme weather events.

4.25.13 r worrset
Dr. Robert Worrest, a senior research scientist at Columbia University, says rising sea levels could hamper Logan Airport and cause flooding in areas that previously have escaped unscathed, such as Long Wharf, Cambridge, and parts of Cape Cod. It could lead to increasingly heavy precipitation and more severe storms. Massachusetts, like many other states, has an extensive plan to cope with these phenomena. But Robert says that it's an uphill political battle to get a buy-in at the federal level, the source of significant emergency aid.

4.25.13 sam mass port
Sam Sleiman, the Massachusetts Port Authority director of capital programs and environmental affairs says that super storm Sandy made him a believer in the need to implement a robust program to protect the port and airport from severe weather. Logan delivers much emergency aid locally and all freight operations in the port depend on the six waterside cranes at Conley Terminal. If a storm blows them into the harbor, Sam says it could shut down the Port of Boston. MassPort has drawn up a remediation plan that calls for infrastructure and operational improvements.

Spring = rebirth; what's blooming in your garden? Send pictures to susan@bisnow.

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