Boston Mixed-Use Development Tops Off

100 Hood Park Drive. Rendering courtesy of Catamount Management Corp.

Catamount Management Corp., in partnership with Lee Kennedy Co. and Trademark Partners, has topped off the expansion of 100 Hood Park Drive, an office and life science property in Boston’s Charlestown neighborhood. The 186,000-square-foot development rises atop an existing seven-story building, with completion expected in 2024.

The developers started construction on the tower addition last year. Project financing includes an $100 million loan from PNC Bank, according to CommercialEdge data.

The existing structure came online in 2020 and comprises 61,139 square feet of lab space on the second floor and 40,000 square feet of ground-floor retail, along with a 900-space garage with 50 EV charging stations. The expansion, designed to achieve LEED Gold certification, will add five stories with floorplates averaging 37,000 square feet, designed to accommodate a 60/40 lab and office split. In total, the 13-story building will encompass 287,000 square feet of commercial space.

Part of the Hood Park campus

When complete, 100 Hood Park Drive will be an anchor for Hood Park, the 20-acre mixed-use campus taking shape as the redevelopment of the old H.P. Hood and Sons dairy hub. At full build-out, the campus will incorporate 1.8 million square feet of lab and office space and 100,000 square feet of retail, as well as 335 residential units. The property already has multiple life science tenants including Bluebird Bio, Mori, Solid Biosciences, Indigo and Advent Technologies.

Located just east of Interstate 93, Hood Park is some 3 miles from downtown Boston and 2 miles from Kendall Square. The property is also less than 2 miles from Assembly Square, where Greystar recently topped off a life science project which is part of a $1.2 billion joint venture.

Nationally, Boston has been leading the office development market, with 15.2 million square feet of office space in its supply pipeline as of May, accounting for 6.3 percent of existing inventory, according to a recent CommercialEdge report. Most of the construction activity is fueled by the life sciences sector.