As seen in Boston Real Estate Times
January 22, 2021
The Massachusetts Port Authority (Massport) Board of Directors selected the proposal submitted by a joint venture led by Lincoln Property Company to develop a mixed-use commercial development project at the 1.1-acre Parcel H in the South Boston Waterfront.
Parcel H is located immediately east of the 601 Congress Street office building (formerly the John Hancock Building) and immediately north of Silver Line Way.
The Lincoln proposal advances Massport’s diversity, equity and inclusion model with joint ventures in every aspect of the project, including development, construction, design, and property management. Going a step further, they proposed to build a standalone Life Science and Technology Career Training Center to expand access to jobs in the life science industry, particularly serving those populations that have been underrepresented in this sector. Lincoln’s proposal also had the most comprehensive financial plan, and best integration of a new MBTA Silver Line station into their overall public realm vision for the site.
“We are excited to move forward with the Lincoln Property proposal, which expands upon the Massport Diversity Model and enhances transit in the district,” said Massport CEO Lisa Wieland. “All three finalist’s bids were competitive, but Lincoln’s proposal led in all four criteria. This proposal also helps the Authority address our current economic challenges by providing a significant upfront payment coupled with long-term financial upside.”
The RFP included the potential to add an additional 1.4 acres by utilizing air rights over Silver Line Way, as well as a portion over I-90, and bidders were encouraged to incorporate these into their design. Lincoln proposed a mix of 57 percent lab space, 40 percent office space, and 3 percent retail, which both responds to the current market and helps diversify uses within Massport’s real estate portfolio. The proposed project has a total of 730,000 SF, with more than 120,000 SF of public realm and outdoor space. This includes a new Silver Line station, a standalone pavilion housing the life science and technology career training center, business incubator space, retail at street level, and a second level public concourse connecting uses throughout the project. Lincoln committed to attain LEED Platinum sustainable design certification.
“We are incredibly pleased that Massport has chosen our team to fulfill a vision for a world-class life science development at Parcel H in the Seaport. Our plans will transform this underutilized parcel into purpose-built lab and office space to support the region’s thriving life sciences and innovation economy,” said Scott Brown, Executive Vice President at Lincoln Property Company.
Diversity, Equity and Inclusion continues to be one of four equally-weighted selection criteria for Massport South Boston Waterfront development projects, along with the Financial Proposal, Design and Public Realm, and Ability to Execute the project. Massport places special emphasis on diversity, equity and inclusion throughout the project team, design excellence, and enhancements to the public realm.
Lincoln’s diversity, equity and inclusion commitment and plan:
- Joint ownership structure
- Boston Innovation Land, LLC (MBE) and Boston Collaborative Advisors Co-Developers (M/WBE)
- Joint venture
- Arrowstreet, Moody Nolan (MBE) and Studio Enee (WBE)
- Joint venture
- Suffolk and General Air (MBE)
- Elaine Construction (WBE) — interior build-out
- Operations/Property Management:
- Joint venture
- Lincoln and UHM (MBE)
- Seaport Circle Life Science Career Center:
- DE&I initiatives and programming promoting life science and technology job-training resources available to local high schools/colleges with diverse student bodies with a mission to connecting underrepresented residents to prospective employment in life science and technology industries.
Parcel H is part of a mixed-use and transit-oriented development master plan Massport originally prepared and permitted in the early-2000s for a portion of its property in the South Boston Waterfront. Based on this framework, over the past two decades, Massport has successfully partnered with numerous private developers to complete approximately 7 million square feet of commercial and residential real estate projects, including over 3 million square feet of office space, 2,200 hotel rooms, approximately 1,800 residential apartments and retail/restaurant venues such as Liberty Wharf.
Development Services Life Science