PASADENA, Calif., June 3 /PRNewswire-FirstCall/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), Landlord of Choice to the Life Science Industry®, today announced that the Cambridge Planning Board has granted final zoning approval for its transformative life science development, known as the Binney Street Project. This development, with its crucial adjacency location near Kendall Square, in the heart of East Cambridge, is positioned to be the epicenter of Cambridge's life science industry.
The Binney Street Project is an 11.3-acre development that will consist of approximately 1.72 million square feet of office/laboratory space and other mixed uses. It will include a mixed mode transportation center and more than two acres of public open space for the East Cambridge community. Once completed, the Project will have five highly sustainable state-of-the-art life science facilities in addition to the preservation of existing historic buildings. All buildings will be LEED certifiable, employing state-of-the-art design and technology featuring sustainable operations including high-efficiency mechanical systems, rooftop storm water management and water-efficient landscaping. This innovative development, in the heart of the renowned Kendall Square district, will provide convenient access to leading research and academic institutions including Massachusetts Institute of Technology, Whitehead Institute for Biomedical Research, the Broad Institute and Harvard University.
"The Binney Street Project is one of the most important developments of its kind and will further enhance Cambridge's position as a world leading center for l
|SOURCE Alexandria Real Estate Equities, Inc.|
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