News
MELROSE STRATEGIZING
July 26, 2011
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| Melrose Real Estate Strategies? Andrea Foertsch, whom we snapped at Wednesday?s Bisnow Life Science Summit, has seen the sector transform since she planned a 1M SF biomed lab project for Congress Group Ventures in ?90. Lenders are much more savvy about life science requirements. In her role as a pre-development consultant, Andrea tells us she's working on multifamily rental projects in the Somerville/Cambridge corridor and on the South Shore that range from $10M to $100M in TDC. Last year, construction was completed on the 260-unit redevelopment of The Gramercy in White Plains, NY that she worked on. Companies are running lean these days, so she jumps in to help them take advantage of opportunities they might otherwise let slip by: office buildings, privatized military housing, life science, golf course communities, etc. |
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| We also snapped ARC?s Arthur Cohen flanked by JLL?s Peter Berkerian and Turner Construction Co's Jennifer Johnson. Construction will be completed December ?12 on the $300M (TDC), 500k SF Albert Sherman Center for UMass Medical School in Worcester that Arthur's firm designed. The building includes research labs, classrooms, and a nearby 1,400-car garage. But as a project designed to create a new focus of activity for the campus, it also features a 350-seat auditorium, dining areas, and a fitness center. Next month, construction will be completed on the biologics center that ARC designed for Genzyme in Framingham. The 185k SF facility will cost $82M to build. |
