{"id":1004152752,"date":"2016-09-19T23:26:49","date_gmt":"2016-09-20T07:26:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004152752"},"modified":"2020-05-18T16:11:45","modified_gmt":"2020-05-19T00:11:45","slug":"biotech-park-planned-for-historic-boston-site","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/biotech-park-planned-for-historic-boston-site\/","title":{"rendered":"Biotech Park Planned for Historic Boston Site"},"content":{"rendered":"<p>By Barbra Murray, Contributing Editor<\/p>\n<div id=\"attachment_1004152753\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Massachusetts-Lt.-Gov.-Karyn-Polito-making-announcement.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004152753\" data-attachment-id=\"1004152753\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/biotech-park-planned-for-historic-boston-site\/massachusetts-lt-gov-karyn-polito-making-announcement\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Massachusetts-Lt.-Gov.-Karyn-Polito-making-announcement.jpg\" data-orig-size=\"478,415\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.2&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 6&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1474031400&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.15&quot;,&quot;iso&quot;:&quot;32&quot;,&quot;shutter_speed&quot;:&quot;0.0046296296296296&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Massachusetts Lt. Gov. Karyn Polito making announcement\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Massachusetts-Lt.-Gov.-Karyn-Polito-making-announcement.jpg?w=478\" class=\"wp-image-1004152753 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Massachusetts-Lt.-Gov.-Karyn-Polito-making-announcement.jpg\" alt=\"Massachusetts Lt. Gov. Karyn Polito announcing plans for the new development\" width=\"300\" height=\"260\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Massachusetts-Lt.-Gov.-Karyn-Polito-making-announcement.jpg 478w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Massachusetts-Lt.-Gov.-Karyn-Polito-making-announcement.jpg?resize=300,260 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004152753\" class=\"wp-caption-text\">Massachusetts Lt. Gov. Karyn Polito announcing plans for the new development<\/p><\/div>\n<p><strong>Boston<\/strong>\u2014Plans for the redevelopment of the former Worcester State Hospital Campus in Worcester, Mass., take a big leap forward with the State of Massachusetts\u2019 selection of the <a href=\"https:\/\/thewbdc.com\/\" rel=\"nofollow\" target=\"_blank\">Worcester Business Development Corp.<\/a> to spearhead the project. A total of 44 acres of land located in the Greater Boston area will now be transformed into a 500,000-square-foot biomanufacturing property.<\/p>\n<p>The State\u2019s re-envisioning of the former hospital site is part of its ongoing <em>Open for Business Initiative<\/em>, which targets underutilized state assets for redevelopment. \u201cTransforming this unused property into a biomanufacturing park is exactly the type of project we envisioned when we launched the Open for Business initiative,\u201d Lieutenant Governor Karyn Polito said in a prepared statement.<\/p>\n<p>It\u2019s a project that will replace the site\u2019s troubled past with a bright future; the new biotechnology park will bring new life to a property that once represented a sad period in the history of mental health in the U.S. Originally developed in 1832, the Worcester State Hospital was first known as the State Lunatic Hospital before a series of name changes\u2014State Lunatic Hospital at Worcester, Worcester Lunatic Hospital and Worcester Insane Hospital\u2014that finally ended in 1909 when the complex was renamed Worcester State Hospital, according to state records. The hospital officially shuttered in 1991; however, a few buildings remain on the sprawling site and are listed on the National Register of Historic Places.<\/p>\n<p>The creation of a biomanufacturing destination is fitting, given Worcester\u2019s status as a burgeoning biotech hub. As noted on the official website of the city of Worcester, the city\u2019s notable concentration of intellectual capital and proximity to top medical facilities and teaching hospitals\u2014along with a favorable business environment\u2014has helped position Worcester as an internationally recognized hub for biotech and life sciences R&amp;D. Demand for suitable space in the city is on the upswing for another reason: rental rates.<\/p>\n<p>\u201cI have been seeing a continuous cross-migration in the Cambridge market, where small companies are being priced out and larger companies are moving in,\u201d Markell Blount, an assistant vice president with NAI Hunneman, said in an interview published on the commercial real estate services firm\u2019s monthly blog in April. \u201cThere\u2019s virtually no space available in Cambridge, so many of these smaller companies are looking for space in the nearby suburbs like Waltham and Lexington, and some are even heading west to the Worcester area.\u201d<\/p>\n<p>When all is said and done, Worcester\u2019s new biomanufacturing facility will have the potential to create more than 500 high-paying positions in the Central Massachusetts area.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The creation of a biomanufacturing facility is likely to solidify Worcester\u2019s status as a burgeoning biotech hub.<\/p>\n","protected":false},"author":969,"featured_media":1004152753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21782,21808,21748,21783,21754,21742,10],"tags":[],"class_list":["post-1004152752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-development","category-featured","category-industrial","category-investment","category-medical-office","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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