NEW YORK (GenomeWeb News) – The Broad Institute broke ground Wednesday on a new research facility at Kendall Square in Cambridge, Mass., that will dramatically boost its lab and office spaces and connect with its main science building.
The new 250,000-square-foot, 12-floor building will adjoin with Broad's 7 Cambridge Center site through six of its floors, creating a collaborative work space that will foster and maintain "key scientific adjacencies" between research groups, Broad said yesterday.
As GenomeWeb Daily News reported in April, the Broad sold $353.4 million in bonds to help finance the new building. Those bonds were issued by the Massachusetts Development Finance agency and include $269.9 million in tax exempt Series 2011A revenue bonds and $83.5 million in taxable Series 2011B revenue bonds, an institute spokesperson confirmed.
The new facility "provides a permanent space for teams to assemble and work together on important problems. That kind of flexibility is essential to our continued success," Broad Institute Director Eric Lander said in a statement. "There is simply no other place where the Broad Institute could flourish like it has here in Kendall Square."
When completed, which is expected to be in early 2014 around the time the lease on another Broad facility on Charles St. is set to expire, the institute's expanded research campus will span some 480,000 square feet.
The Broad is still not certain exactly which labs, resources, and operations will be housed at the new space at 75 Ames St., but a spokesperson told GWDN that the goal is for the research operations and staff to be consolidated into the two contiguous buildings.