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Fan Pier Boston News: Vertex Leases Additional Space at One Marina Park Drive

April 12, 2012 By Leave a Comment
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Vertex adds 56K sq ft in Fallon's Fan Pier building Article Courtesy of:  Boston Business Journal by Thomas Grillo, Real Estate Editor Vertex is leasing space at One Marina Park Drive in advance of moving its headquarters to Fan Pier in 2013. Vertex Pharmaceuticals is wasting no time moving to Boston’s Seaport District. The Cambridge. Mass., firm that has a pair of buildings under construction at Fan Pier is leasing two floors at One Marina Park Drive, Joseph Fallon’s first waterfront building on what is expected to be a $3 billion neighborhood spanning nine city blocks. Vertex is temporarily leasing 56,000 square feet on the 12th and 13th floors as it builds new headquarters nearby. “We moved a … [Read more...]

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Fan Pier One Marina Park Drive Tennant MassChallenge Sees Red

February 20, 2012 By Leave a Comment
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Russia aims to replicate MassChallenge start-up competition By Michael B. Farrell, Article Courtesy of:  Globe Staff MassChallenge, a Boston-based competition for early-stage entrepreneurs, will help Russia launch its own version of the program to foster start-ups. The organization will assist Russian entrepreneurs that are interested in taking part in this year’s MassChallenge contest, as well as lend its expertise to advise an existing business plan competition in Russia, according to John Harthorne, chief executive of MassChallenge. The nonprofit MassChallenge, which awards $1 million annually to young companies, received $100,000 from Russian Venture Company USA, the American investment arm of the Russian … [Read more...]

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Fan Pier Cornerstone Institute of Contemporary Art Raises $25 Million

February 14, 2012 By Leave a Comment
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ICA effort raises $25m as museum looks to future Article Courtesy of The Boston Globe | By Geoff Edgers The Institute of Contemporary Art, just five years after opening its first permanent home, is flexing its newfound financial muscle. The ICA will announce today that it has raised $25 million toward a $50 million campaign, the bulk of which will dramatically boost its endowment. That is an important step in stabilizing the museum’s future. The ICA opened an attention-getting building on Fan Pier in 2006, and it has since used innovative programming to spearhead a boom in regional attention to contemporary art. But it is working with an endowment of just $9.9 million, a figure dwarfed by the endowments at several … [Read more...]

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Fan Pier District to see Dramatic Changes in 2012

February 5, 2012 By Leave a Comment
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The Departed: South Boston to Change Forever This Year Article Courtesy of:  Tom Acitelli You should stroll the South Boston waterfront sometime really soon. Then close your eyes at the end of your walk, and seal the memory in your mind. Because the area is about to change forever in one of those tell-the-grandchildren-how-a-candy-bar-cost-a-nickel ways. More than 1,700 apartments in several buildings on otherwise nondescript sites are expected to get under way in 2012, what could be, as The Globe's Casey Ross puts it, "the year the South Boston waterfront started to feel like a neighborhood." What's coming? · Seaport Square. 750 apartments in two 22-story buildings on a 3-acre site between Sleeper Street and Northern … [Read more...]

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Vertex @ Fan Pier & Growth in Biotechnology Industry Pushes Boston Apartment Market Demand

January 29, 2012 By Leave a Comment
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Boston Apartment Market Among Nation's Strongest Article Courtesy of:  Citybizlist Fueled by growth in the biotechnology industry, Boston will be one of the top-performing apartment markets in the nation this year, according to the Marcus & Millichap 2012 Market Forecast. Pharmaceutical companies are rapidly expanding in the area. The redevelopment of the South Boston Waterfront, for example, is attracting Vertex Pharmaceuticals. The company announced plans to relocate their world headquarters to Fan Pier by 2013, a move that will spur economic growth and support demand for Class A apartments in surrounding areas. Additionally, thousands of construction jobs will be created, sparking demand for Class B/C … [Read more...]

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Vertex’s decision to leave Cambridge Slingshots 30-year effort to redevelop Fan Pier

January 3, 2012 By Leave a Comment
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Building in Boston back on track By Jerry Kronenberg  Article Courtesy of:  http://www.bostonherald.com The Hub’s long chilly commercial real estate market began showing signs of warming up in 2011, with major projects from Eastie to Southie either publicly announced, under construction or completed. “We’re in pretty good shape,” Boston Redevelopment Authority Director Peter Meade told the Herald. “We broke ground on 1,000 units of housing (in 2011) — and the last time we did that was in 2006.” Meade sees June’s groundbreaking of Vertex Pharmaceuticals’ new headquarters at South Boston’s Fan Pier as perhaps 2011’s biggest achievement. Vertex’s decision to leave Cambridge and sign a $1.1 … [Read more...]

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Seaport District Boston Convention & Exhibition Center $2 Billion Expansion

December 29, 2011 By Leave a Comment
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City sees banner year for conventions in 2012 By Katie Johnston Article Courtesy of:  The Boston Globe Boston Convention & Exhibition Center in South Boston. In another sign that Boston is shaking off the economic downturn, the Massachusetts Convention Center Authority said yesterday that 2012 will be its best year since 2007, with booked conventions expected to generate more than 600,000 hotel room stays for the first time in five years. The banner year strengthens the convention authority’s case for a $2 billion proposed expansion of the Boston Convention & Exhibition Center in the Seaport District and shows that the seven-year-old center has established itself, said James Rooney, executive director of … [Read more...]

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Fan Pier Construction Momentum Continues

December 12, 2011 By 1 Comment
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Boston's Waterfront in Bloom Developers are set to begin construction on Pier 4, one of several projects gaining traction By Casey Ross - Globe Staff - Article Courtesy of:  Boston Globe Focus on the waterfront A look at the latest additions and proposals for the Boston waterfront. Executives with property owner New England Development of Newton and its partner on the project, Hanover Co. of Houston, said they expect to begin construction next spring on a 21-story tower that would include 357 apartments, retail stores, and an underground parking garage next to the Institute of Contemporary Art. The new building would not immediately result in the closure of the classic eatery Anthony’s Pier 4, which is … [Read more...]

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Vertex on Fan Pier Good News for South Shore Real Estate

December 1, 2011 By Leave a Comment
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Could the news that Vertex Pharmaceuticals is moving from Cambridge to Fan Pier mean good things for the housing market on the South Shore? The news that Cambridge based Vertex Pharmaceuticals will be relocating to Fan Pier in Boston was greeted with predictable applause from city of Boston officials and commercial real estate professionals in the South Boston/Downtown area, but there were cheers from the South Shore as well. Vertex Spokesman Zachry Barber reports that the agreed upon lease term is for 15 years and will include an average annual rent of $72.5 million. The two buildings to be built will total 1.1 million square feet, and will be the new home of thousands of workers. Vertex’s new addresses will be at 50 Northern Ave. … [Read more...]

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Seaport Square Boston at Fan Pier Gives Bike Sharing a Waterfront Boost

November 29, 2011 By Leave a Comment
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The Bike Share Station Sponsorship Dance Christine MacDonald Article Courtesy of:  The Atlantic Cities Hub Way Bike Sharing Boston MA - PHOTO COURTESY: Flickr/Luis Tamayo Construction won’t begin until next year on the expanse of parking lots that will become Boston’s long-awaited Seaport Square neighborhood, but developers have already installed the first Hubway bike sharing station on the sprawling 6.5 million square-foot parcel. Once the new residences, shops, restaurants, office space, and hotels go up, “We plan on having several stations out there. We think it will be that much in demand,” says Kevin R. Benedix, executive vice president of Seaport Square developer Boston Global Investors. "You are always … [Read more...]

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Seaport Square Project, Boston Innovation Center, Fan Pier & One Marina Park Drive Connect

November 8, 2011 By Leave a Comment
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Boston is getting an 'Innovation Center' to serve as a hub for the Innovation District By Scott Kirsner, Globe Columnist Article Courtesy of:  Boston.com Boston's Innovation District will get a new building next year — the Boston Innovation Center — that could become the neighborhood's hub. It'll be built on land across Northern Avenue from the Institute of Contemporary Art, and not far from the MassChallenge's digs at One Marina Park Drive, the mostly-empty high-rise on Fan Pier. And the city officials nudging the project along seem to hope it will develop into something like Microsoft's NERD Center, which hosts dozens of community events each week in Kendall Square."We're not quite ready to talk about it," says real … [Read more...]

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Vertex Arrives at Fan Pier

November 5, 2011 By Leave a Comment
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City Celebrates Vertex Groundbreaking at Fan Pier – TK&A, Elkus Manfredi, and Turner Team Up Article Courtesy of: High-Profile Monthly June 2011 Boston – Mayor Menino and the BRA joined with Boston-based development firm, The Fallon Company, headed by President & CEO Joseph F. Fallon, today broke ground on Fan Pier’s second and third office buildings and the future home to the 1.1 million square foot global headquarters for Vertex Pharmaceuticals. This lease is the largest commercial lease in the history of Boston and with construction underway, it’s also the largest private sector construction project in the country. More than 1,000 construction jobs will be created as a result of this new project. Vertex currently … [Read more...]

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Karp, Buza, Hoar, Fallon, Fowler, Hynes & Menino Pivot on Vertex

November 2, 2011 By Leave a Comment
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Spurring Growth on Boston’s Waterfront By SUSAN DIESENHOUSE - Article Courtesy of:  New York Times BOSTON — When Vertex Pharmaceuticals agreed this year to move into an as-yet-unbuilt waterfront office complex, it made history as the city’s largest commercial lease at 1.1 million square feet, with a rent of $72.5 million a year. But more important for the city over all, the huge deal has spurred growth and eased the way for financing other projects. The Fallon Company is developing the $900 million office and laboratory complex for Vertex on Fan Pier, across Fort Point Channel a few blocks from downtown. Vertex, which is based in Cambridge, Mass., also has leased 60,000 square feet in One Marina Park Drive, an office building … [Read more...]

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Fan Pier District & Surrounding Seaport Neighborhoods Updating Broadband Services

October 29, 2011 By Leave a Comment
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Comcast is expanding broadband services in Boston’s ‘Innovation District’ Article Courtesy of:  Chris Reidy, Globe Staff - Boston.com Mayor Thomas M. Menino said today that Comcast Corp. has begun to expand the availability of its advanced fiber network in a section of the South Boston waterfront that Menino has dubbed the Innovation District. The City of Boston is seeking to convince technology and biotechnology companies that they should relocate all or some of their operations to the Innovation District, and those types of businesses often require broadband services such as Comcast provides, Menino said in a statement. Comcast needs to get permission from the neighborhood’s property owners to gain access to their … [Read more...]

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Fan Pier News – Institute of Contemporary Art Revitalizing Boston’s Waterfront

October 22, 2011 By 1 Comment
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Contemporary and Boston, Opposites No Longer Article Courtesy of:  The New York Times - By JUDITH H. DOBRZYNSKI “There’s one thing I’ve heard over and over again here,” says Edward Saywell, the top contemporary art curator at the Museum of Fine Arts, Boston, who is showing off works by Ellsworth Kelly, Kara Walker, Cindy Sherman and other contemporary artists in his domain, including many new ones. “They say, ‘This can’t be Boston,’ and I say, ‘Yes, it really is.’ ” Big shows, love affairs and art all night. The people in Mr. Saywell’s tale are marveling at the museum’s new Linde Family Wing for Contemporary Art, an airy 80,000 square-foot space that opened in mid-September, but they may as well … [Read more...]

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$50 Million in State Bond Funds Support Fan Pier Region Construction Projects

October 19, 2011 By 1 Comment
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Boston's Fan Pier gets a $50M funding from I-Cubed Article Courtesy of:  Mass High Tech The section of South Boston’s planned Innovation District known as Fan Pier has won approval for $50 million from a state-run public-private program for development, part of which will be the new 1.1 million square foot headquarters for Vertex Pharmaceuticals Inc. Vertex signed a 15-year lease for the space in May, becoming the largest commercial lease in the history of Boston. A release from the office of Lieutenant Gov. Timothy Murray stated that the Innovative Infrastructure Investment (I-Cubed) program will dole out the $50 million to “support public infrastructure improvements at Fan Pier – primarily streets, sidewalks, and … [Read more...]

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