 (1).png)
News:
Owners Developers & Managers
Posted: November 4, 2022
King Street Properties breaks ground on $915 million Allston Labworks - a 4.27-acre mixed-use project
Tom Ragno, King Street; Mike DiMinico, King Street; Stephen Lynch, King Street;
Robert Reibstein, Mugar; Jonathan Mugar, Mugar; Joe DiStefano; and Natalie Kuldell, BioBuilder.
Boston, MA King Street Properties celebrated the groundbreaking of Allston Labworks, a $915 million project in the Allston neighborhood of the city. The 4.27-acre mixed-use project will be situated on the former Stadium Auto Body site on Western Ave. and will consist of 534,000 s/f of lab space, 20,000 s/f of retail, 35 residential units, and a 12,000 s/f public plaza with an additional 5,000 s/f of open space.
Previously used for traditional industrial and automotive, King Street is transition the underutilized stretch of Western Ave. to accommodate the modern life science industry and cutting-edge technologies at Allston Labworks. The DiStefano Family, longtime contributors to the local economy and owners of Stadium Autobody remain involved in the new development.
“We are so proud to be breaking ground on this site,” said Mike Diminico, managing director, King Street Properties. “Today marks the beginning of a true collaboration between development and community. Allston Labworks will not only bring new jobs to the local economy, provide needed housing, and support our vital life sciences sector, but will also provide ongoing engagement with students and neighbors, welcoming them to an industry that our team cares deeply about.”
A key highlight of the Allston Labworks development will be the Learning Lab, a science laboratory and classroom space hosting educational programs tailored for both the local community and for the ever-growing life sciences industry. King Street has partnered with BioBuilder Educational Foundation to run the Learning Lab. Created by an award-winning team at MIT, BioBuilder is committed to helping students access tools and programs to unlock their potential as life science innovators.
When complete, Allston Labworks will encompass three buildings. In addition to life sciences and educational functions, the development will also include 35 housing units, of which 26% will be affordable; working studio and gallery space to support the local artist community; and ground floor retail focused on local operators.
The project will be ready for tenant work in summer 2024, with tenant occupancy expected in Q4 2024.
The development team includes:
- Architect: DiMella Shaffer;
- MEP engineer: BR+A;
- Civil engineer: Howard Stein Hudson; and
- Contractor: Consigli Construction Company.
MORE FROM Owners Developers & Managers
Atlantic Property Management expands facilities maintenance platform: Assigned two new facility management contracts in RI
Boston, MA Atlantic Property Management (APM) has expanded its internal facilities maintenance and operations platform and has been assigned two new facility management contracts in Rhode Island. The properties will undergo redevelopment and repositioning
Quick Hits
 (1).png)
Columns and Thought Leadership
Tenant Estoppel certificates: Navigating risks, responses and leverage - by Laura Kaplan
When it comes to the sale or financing of real property, tenant estoppel certificates are not just formalities – they are crucial documents that confirm the status of existing leases. Tenant estoppel certificates offer prospective buyers and lenders necessary assurance regarding the property’s financials and any
New Quonset pier supports small businesses and economic growth - by Steven J. King
Quonset recently celebrated a milestone nearly 70 years in the making when federal, state, and local leaders joined us for the ribbon cutting of the new Terminal 5 Pier and Blue Economy Support Docks at the Port of Davisville.
Unlocking value for commercial real estate: Solar solutions for a changing market - by Claire Broido Johnson
As the commercial real estate market continues to navigate the disruptive forces of rising vacancy rates and increasing operating costs, landlords are under pressure to find new levers to protect income and strengthen asset performance. Amid these challenges, onsite solar and battery storage – particularly when financed through third-party ownership models – are emerging not just as environmental upgrades, but as powerful financial strategies.
Connecticut’s Transfer Act will expire in 2026. What should property owners do now? - by Samuel Haydock
A major shift in Connecticut’s environmental law is on the horizon: the state’s Transfer Act will expire next year, ushering in a new cleanup program with broader applicability and new triggers.