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Will Big Pharma become Savior of Boston Lab Real Estate Development as Biotech pulls back?
– News covered by Quincy Quarry News with commentary added.
“A City on the Move” taking a dump?
An iconic Quincy Quarry News file photo
Growth in biotech lab in the Greater Boston area has gone flaccid after a hard surge in recent years.
While some new developments are going forward, the recent apparent collapse of FoxRock’s third try at developing a medical science of one sort or another in Quincy Center is becoming more common.
How big a concern is the downturn?
Recently there was a biotech conference on the problem and the hoped for support of smaller biotech firms and startups by Big Pharma.
Read all about it here.
How long will the slowdown continue?
Image via Entrepreneur magazine
Needless to say, the current downturn in developing new biotech facilities does not bode well for Quincy Mayor Thomas P. Koch’s so far unsuccessful and who only knows how expensive quest to see a consequential biotech operation come to the Q.
After all, it would be nice to finally provide a significant commercial real estate development in his long stumbling along plans to see “A New Quincy Center” include something other than mostly high rent for Quincy apartment buildings featuring often less than full ground level storefronts for mostly but new restaurants.
Is Mayor Koch looking at yet another close shave?
An old Facebook image
Plus, absent growth in high paying jobs, who is going to be able to afford the rents asked at all of the new apartment developments in Quincy?
Further troubling is how soaring interests rates and construction costs is already reeking havoc upon all manner of other proposed real estate developments, including housing projects
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Big pharma, biotech, or some other major industry — if it isn’t developers building apartments . . . it ain’t going to happen in Quincy.