Nearly a year after the announcement of a life sciences complex on the vacant I-195 land, the project appears to be moving forward. The State Commerce Corporation and the I-195 Redevelopment District Commission agreed to authorize more than $18 million dollars in tax incentives for the major development project.
In January of 2016, Baltimore-based Wexford Science and Technology signed a purchase and sale agreement for two parcels of land for about $7-million. The group now has two tenants signed on for the planned 190,000 square-foot construction. The development is expected come with a hefty price $158-million price tag.
Brown University will move its school of professional studies into the building, and the Boston-based small-business incubator known as the Cambridge Innovation Center will also have space.
There are also plans for 170 room hotel to be built adjacent to office and research building. Construction is set to begin in early 2017.
