BOSTON– In the largest life sciences lease in the City of Boston since 2011, WS Development announced that Foundation Medicine has leased 580,000 square feet of laboratory and office space at 400 Summer Street, part of the company’s 23-acre Boston Seaport development.
“We are honored that Foundation Medicine has chosen 400 Summer Street for their headquarters. Boston’s Seaport has come to serve as the city’s hub for forward-thinking employers, residents, and retailers, and now as a global hub of the life sciences sector. No company better represents the power of innovation than Foundation Medicine and we are proud to welcome them to our neighborhood,” said Jeremy Sclar, President of WS Development.
400 Summer Street is a 16-story laboratory building designed by Morris Adjmi Architects of New York City in collaboration with the Boston office of Stantec (rendering attached). The 625,000-square foot building once completed will also host 30,000 square feet of neighborhood retail uses. Foundation Medicine will occupy all of the laboratory and office space in the building to be constructed at 400 Summer Street in Boston’s Seaport District, a major hub for technology and life sciences talent.
The project will also involve the construction of a grand public stair connecting Summer and Congress Streets designed by James Corner Field Operations, the landscape architect behind New York’s High Line. This major public space will provide direct pedestrian and bicycle connectivity from the Summer Street bridge directly to Boston Harbor as the southern gateway to Harbor Way, the 1/3 mile linear park being constructed by WS Development as part of the Boston Seaport project.
WS Development expects the project to start construction later this year and be occupied by 2023.
The development of 400 Summer Street will also result in funding approximately $5.0 million dedicated to the creation of affordable housing in Boston, as well as $1.0 million in funding for job training in the City of Boston.