Banker & Tradesman: Feb. 24, 2020

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Turn to page B1 for Banker & Tradesman’s monthly coverage of all things commercial real estate.

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

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County close-up: Middlesex Spotlight: Medford

IN PERSON

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During his 30 years working with the homeless, Joe Finn has become a champion of the “housing first” approach: partnering housing with support services for those experiencing homelessness. But the lack of affordable housing and high cost of new construction create barriers to these goals.

WEEK OF MONDAY, FEBRUARY 24, 2020

COMMERCIAL REAL ESTATE BY THE NUMBERS

3 million square feet The total possible buildout on the Hynes Convention Center site. See Week on the Web on page 2. Source: Colliers International

0 The BU Data Sciences Center will create no net carbon dioxide. See Steve Adams’ story on this page. Source: Boston University

40 percent An AI assistant has helped reduce construction industries by 40 percent. See Jay Fitzgerald’s story on page B1. Source: Shawmut Design and Construction

5 stories L3 Capital wants to build a 5-story building on a Newbury Street parking lot. See Week on the Web on page 2. Source: BPDA

DIGGING DEEPER

DATA SCIENCES PROJECT

DRILLS DOWN ON SUSTAINABILITY

72 million square feet Proptech HqO’s software powers 72 million square feet of office space. See Chase Garbarino’s column on page B4. Source: HqO

The BU Data Sciences Center will be heated and cooled with 1,500-foot-deep geothermal wells. See Steve Adams’ story on this page. Source: Boston University

50 The number of companies using “Vinnie,” an automated tool for reducing construction industries. See Jay Fitzgerald’s story on page B1. Source: SmartVid

269,000 The square footage to be occupied by Vertex Pharmaceuticals at 6 Tide St. See Hot Property on page 7. Source: Related Beal

Contract Drug Manufacturing Fills Industry Need BY STEVE ADAMS BANKER & TRADESMAN STAFF

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oston University’s Center for Computing and Data Sciences has drawn comparisons to a monumental game of Jenga for its distinctive design, but its larger legacy could be serving as a model for sustainable buildings in an urban setting.

Scheduled to break ground in April, it’s expected to become Boston’s largest building with geothermal heating and cooling. As local and state officials consider building code changes requiring developments to reduce their carbon footprints, the $290 million project will be monitored by the commercial real estate industry to determine if the designs translate to projects with short investment timelines. “Everybody understands how important carbon reduction is, and as long as you can make the financial case work, there’s a drive to do so,” said Jacob Knowles, director of

COMMERCIAL INTERESTS

Is Northland’s Goose Cooked?

Sanders’ Popularity Could Bode Ill for Newton’s Super Tuesday Referendum Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

By Scott Van Voorhis | Banker & Tradesman Columnist

sustainable design at Boston-based BR+A Consulting Engineers, one of the project team members. A network of 31 wells drilled to a 1,500foot depth at the 665 Commonwealth Ave. site will power a geothermal heat pump system supplying all of the 350,000-square-foot tower’s heating and cooling requirements. A triple-glazed exterior will insulate the interior from temperature fluctuations, while a power purchase agreement with a South Dakota wind farm will offset the impact of the entire BU campus on the electric grid.

M&A

With Radius Acquisition, LendingClub Buys Crucial Bank Charter LendingClub Will Get Tools to Better Service Clients By Diane McLaughlin | Banker & Tradesman Staff

Commercial Real Estate PAGE 3

Continued on Page 7

Banking & Lending PAGE 9

Image courtesy of KPMB

1,500 feet


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