Owner of building across from South Station hopes to replace failed co-work space with, of course, life-sciences lab space
Oxford Properties, which owns the building across Atlantic Avenue from South Station where WeWork no longer works, says it will soon file plans to replace the co-working space with space aimed at attracting some of those up-and-coming life-science companies that seem to be what's keeping Boston's commercial developers afloat these days - and maybe add a ground-floor restaurant to keep those workers and nearby Leather District residents well fed.
In a letter of intent filed with the BPDA, the company says WeWorks defaulted on its lease at 745 Atlantic Ave. earlier this year, leaving roughly 75% of the building vacant.
In response to that event, and in an effort to revitalize and reoccupy the building, Oxford proposes to change the use of approximately 155,000 square feet of the existing commercial space to allow for its use as either life science/R&D, office, or both uses. We believe this approach, which provides Oxford the flexibility to accommodate a variety of tenants according to future demand, will limit the duration and impacts of the vacancy and position the building for success in Boston’s rapidly evolving knowledge economy
Oxford says one of its first steps would be to upgrade the building's core systems, such as mechanical, electrical and plumbing, to make the building biotech-strong. It will also convert roughly 4,100 square feet of ground-floor space into room for a full-service restaurant it vows will become a "neighborhood amenity" for the surrounding Leather District.
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Why not both?
A coworking life sciences space. Individual bioentrepreneurs sharing supplies ... what could possibly go wrong?