Fast-Growing Agricultural Startup Indigo Ag Could Anchor Planned Hood Park Skyscraper
A Charlestown property that was once known for its dairy production could, like many Boston developments, eventually cater to the region’s technology companies.
The developer behind the Hood Park complex along Rutherford Avenue in Charlestown has filed plans with the Boston Planning & Development Agency to construct five new buildings on the 20-acre site. While the BPDA approved a master plan in 2000 for up to 1.2M SF of development across six buildings, the latest filing indicates Hood Park developers plan about 1.7M SF of development across 11 buildings.
Four buildings catering to office and lab tenants would be on the side of the property closest to Interstate 93, with one as tall as 295 feet and housing one of the city’s fastest-growing tech companies. A rendering in the filing showed the tallest tower marked with the logo for agriculture tech startup Indigo Ag, which already employs 300 people at its headquarters at 500 Rutherford Ave. in Hood Park.
Indigo Ag announced Tuesday it had raised $250M in venture capital funding, bringing its overall funding to $650M. The company was valued at $1.4B after a $203M round of funding in 2017, but its current valuation is said to be closer to $3.5B, the Boston Globe reports. A Hood Park spokesperson said the intended tenant for the proposed 365K SF office tower at 10 Stack St. is Indigo Ag, the Boston Business Journal reports.
The filing also described plans for a hotel and nearly 200 residential units. Hood Park already has 443K SF of commercial space, and a 177-unit residential building is currently under construction.