Tishman Speyer, the developer Harvard selected to build its Enterprise Research Campus in Allston, announced on June 16 that it had secured $750 million in financing to build the first, 9-acre phase of the development project. In a statement, the company said that this represents the largest construction financing package in the United States to date in 2023. Construction will begin next week—the week of June 19—and the buildings—including 440,000 square feet of laboratory and office space, a hotel, a 342-unit rental apartment building, and a University conference center named the David Rubinstein Treehouse—are expected to open in late 2025 or early 2026.
The 900,000-square-foot mixed use project will include retail shops and restaurants at street level, and more than two acres of open space.
An artist’s rendering of a residential street within the Enterprise Research Campus
As previously reported, more than a quarter of all the housing units in the first phase will qualify as affordable. According to the statement from Tishman Speyer, the project also represents one of the largest inclusionary investor initiatives in Boston history: $30 million of the project’s equity investment comes from black and Hispanic individuals and households. Minority- and women-owned construction firms will participate in building the project. And Tishman-Speyer said that it is committed to including small, local, minority and women-owned retailers in the ground floor spaces.
The project aims to achieve a LEED Gold certification for sustainability.
