Boston, MA

The market in Boston continues to benefit from widespread diversity. Residential, life science, commercial, education, and infrastructure projects are all present here in similar proportions.

There are several high-profile projects underway here, including the redevelopment of the city’s Seaport District, residential towers along the waterfront, and continued life science development across the Charles River in Cambridge. Laboratories operate across the city serving the thriving biotech industry, which requires specialized workspaces, equipment, and workers who must be on-site. This has in turn spilled into other parts of the economy and surrounding communities and kept adjacent businesses downtown operating.

The overall market is expected to decline slightly this year, but sizable growth is likely to come from the manufacturing sector. Unlike in other cities, this is not due to the reshoring of manufacturing jobs but rather to the role of life sciences in ending the COVID-19 pandemic. New vaccines will need to be developed, manufactured, and distributed alongside the work that has not been changed by the pandemic. In short, biotech companies in the greater Boston area will need to increase capacity, and fast.

* Other structures include religious buildings, amusement, government communications, and public recreation projects.