Skanska to Build $125M Mixed-Use Tower in MA
The company is developing on EF Education First’s campus in Cambridge. EFIII will include office and administrative accommodations, as well as student housing.
By Barbra Murray
Image courtesy of Skanska
Skanska USA’s strong relationship with EF Education First just got stronger. The construction and project development company has inked a deal with EF to construct the third building on the education company’s North Point campus in Cambridge, Mass. Skanska USA’s contract for the approximately 300,000-square-foot development is $125 million.
“Public-private partnership is increasingly key to creating critical social infrastructure, and EF’s growing campus is a prime and leading example,” Richard Kennedy, president & CEO of Skanska USA, said in a prepared statement.
EF III won’t be the traditional campus building; it will be quite a diversified mixed-use property. The upper floors of the 12-story tower will offer general office and administrative accommodations, as well as student housing for Hult International Business School. The entire ground floor, however, will be devoted to recreational amenities, including a public fitness facility and a café. The building will also feature above-grade parking.
Skanska USA delivered EF’s $125 million North American Headquarters facility on the North Point campus in 2014. The company is scheduled to wrap up construction on EF III in spring 2019.
CHANGE AFOOT
Skanska USA’s parent company, Stockholm, Sweden-based Skanska AB, will get a new president & CEO, effective, January 1, 2018. The company promoted from within, naming Anders Danielsson, a Skanska employee since 1991, to the position, replacing Johan Karlström.
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