Developments > Fraunhofer Center
This project involved the adaptive reuse and rehabilitation of a historic building in Boston’s new, dynamic Innovations District, located within the Fort Point Channel neighborhood and adjacent to the Seaport district. This district provides a cornerstone for the Boston Redevelopment Authority to foster entrepreneurial activity around technology and research firms. The 50,000 square-foot renovated building houses the Fraunhofer Center for Sustainable Energy Systems (CES), one of the German institute’s seven “Centers of Excellence” in the US, which focuses on the development and promotion of sustainable energy research products and systems – specifically new solar, photovoltaic, and building technologies. The Fraunhofer Center relocated to this building from its former location near MIT, substantially reducing its rent and quadrupling its space. It occupies 30,000 square feet and sub-leases the remaining space to incubator companies spun off from the Center’s activities. This project created 100 construction jobs, 20 immediate new full-time jobs at Fraunhofer, and is expected to generate 100-200 additional full-time jobs as new ventures spin off from the tenant and sub-leased space. The project was completed in 2013.
Fraunhofer Center
Project at a Glance:
Location:
Boston
Development Type:
Commercial
Project Type:
Adaptive reuse of historic building
MHIC Financing:
$13,473,445 in NMTC financing
Sponsor:
Galvin Capital Partners, LLC
This project involved the adaptive reuse and rehabilitation of a historic building in Boston’s new, dynamic Innovations District, located within the Fort Point Channel neighborhood and adjacent to the Seaport district. This district provides a cornerstone for the Boston Redevelopment Authority to foster entrepreneurial activity around technology and research firms. The 50,000 square-foot renovated building houses the Fraunhofer Center for Sustainable Energy Systems (CES), one of the German institute’s seven “Centers of Excellence” in the US, which focuses on the development and promotion of sustainable energy research products and systems – specifically new solar, photovoltaic, and building technologies. The Fraunhofer Center relocated to this building from its former location near MIT, substantially reducing its rent and quadrupling its space. It occupies 30,000 square feet and sub-leases the remaining space to incubator companies spun off from the Center’s activities. This project created 100 construction jobs, 20 immediate new full-time jobs at Fraunhofer, and is expected to generate 100-200 additional full-time jobs as new ventures spin off from the tenant and sub-leased space. The project was completed in 2013.