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Final Plans Unveiled For Kendall Square Project

CAMBRIDGE, MA-Lyme Properties and equity partner insurer Scottish Widows are developing and will manage the Kendell Square project here. They have secured leases for the entire property, which had been a brownfields site.

By Naomi Grossman | Updated on November 13, 2000

CAMBRIDGE, MA-Genzyme Corp. will move its corporate headquarters to Kendall Square, the $400-million mixed-use development currently under construction. The site will also include life science research and development laboratories and office space, a luxury hotel, condominiums, performance and movie theaters, retail space as well as restaurants, parks, an outdoor skating area and a small boat facility.

According to David Clem, managing director of Lyme Properties, all 1,313,000 sf of the site has been committed. Lyme Properties is developer and manager of the project with Scottish Widows, a UK insurer, its equity partner.

In addition to its headquarters, Genzyme will lease 150,000 sf in a nearby laboratory building. Vertex Pharmaceuticals has signed a letter of intent for 250,000 sf lab space in a third biotech building. Atlanta-based Hardin Capital plans to develop a 300-room hotel and 160 condominiums while Constellation Productions, a nonprofit organization, will develop the four theaters. Lyme will build additional residential, retail and office space.

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