Kavanagh Advisory Group Seeks Approval for R&D Facility
- Oct 11, 2013
Kavanagh Advisory Group LLC of Danvers, a real estate development and consulting company focused on complex projects in the Boston area, is planning to construct a large-scale research and development facility at the corner of Tide Street and Northern Avenue in the city’s Marine Industrial Park.
According to the Project Notification Form that was recently filed with the Boston Redevelopment Authority, the developer proposes to transform the currently vacant 179,810-square-foot Parcel R located at 316-318 Northern Avenue and owned by the Economic Development and Industrial Corporation (EDIC) into an “innovation square” called 6 Tide Street/One Northern Avenue Place. If approved by the BRA, the site will be redeveloped in three distinct phases and the full build-out will result in a 355,000-square-foot, multi-tenant R&D/manufacturing facility featuring on-site parking that will most probably attract pharmaceutical companies. The $116 million investment will create more than 1,000 new full- and part-time jobs and around 650 construction jobs, the filing revealed.
The development team also includes Commercial Construction Consulting, Inc. of Boston, McPhail Associates, LLC of Cambridge and Transportation Engineering, Planning and Policy of Salem, NH. According to the filing, the team will also remodel a Silver Line stop located on the site and provide further amenities for the growing number of commuters using this line of transportation. Designed by HDR Architects, the four-story building will be seeking LEED certification under USGBC’s LEED for New Construction and Major Renovation.
Parcel R is one of the last vacant sites in the Boston Marine Industrial Park. For more than two decades, until 2008, it was occupied by the J.J. Daly Company, a distributor of stationary and office materials for large companies located in Boston’s financial core.
The proposed R&D facility is being marketed by Avison Young’s principals Karyn McFarland and Kevin Malloy.
Rendering courtesy of Kavanagh Advisory Group