585 Kendall | 585 Third Street | Kendall Square

stellarfun said:
$49.5 million for 0.32 acres.

Little need to guess what type of building gets built on land costing about $3,500 a square foot, or $150+ million per acre.
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At those prices, it’s clear that Glenn KnicKrehm was playing a long con with his Constellation Center pitch.
 
Excavation continues (5/9):
IMG_8760.JPG
 
I wasn't sure if the basement was going to extend under the portion of the site that was occupied by the recently-demolished gas transfer station (the portion fronting Third St), especially since excavation got such a big head start on the rest of the parcel. Well, it appears that it will - they recently started new sheet piling work on that part of the site (photo this morning, 6/14):

tkd585-1.jpg
 
IMG_3549.jpeg

This one has an interesting excavation sequence. They put sheet piles in around the portion of the site outside of the old compressor, and now they are building another box around the old compressor side. The bulk of the site appears to be one floor below ground.
 
RandomWalk said:
This one has an interesting excavation sequence. They put sheet piles in around the portion of the site outside of the old compressor, and now they are building another box around the old compressor side...
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The construction updates site might have some clues. For example, therein, I have no idea what "vault demo and pre-clear of sheeting line" means (maybe that relates to what you're seeing?):
www.canaldistrictkendall.com

Development Updates — Canal District Kendall

www.canaldistrictkendall.com www.canaldistrictkendall.com

It definitely has not been a straightforward excavation. Also within above it states: "demo and removal of existing foundations", suggesting there have been some underground obstacles. Further, they've ostensibly done a fair bit of mitigation and remediation work. For a long time large black plastic bags (filled with soil?) occupied the middle of the site.
 
^It may not appear there's been a lot of progress between Random's Oct photo and Ban's January photo, but there actually has been. In Ban's photo, two separate excavation sites with a sheet pile retaining wall in between them have been merged into one large bathtub. The excavation under the footprint of the old natural gas transfer station had, until recently, lagged behind that of the larger parcel. Now it appears excavation is in the final stages across the full footprint of the new building
 
www.bostonglobe.com

Takeda staying in Kendall Square - The Boston Globe

Stories you may have missed from the world of business.
www.bostonglobe.com www.bostonglobe.com

Takeda Pharmaceutical Co. has extended its lease in Cambridge’s Kendall Square through 2040. The Japanese drug giant, based in Tokyo, has its global US hub in Cambridge. It has signed on for a 10-year term for 223,000 square feet at 75/125 Binney St., a lab complex developed by Alexandria Real Estate Equities. The company is also planning to occupy a 16-story office and lab building at 585 Third St. nearby, a BioMed Realty project that’s under construction now and is slated to open next year. The lease extension comes at a time when many biotech companies have drawn down their lease requirements, though the Cambridge market has fared better than its surrounding neighbors. Lab availability is than 14 percent in Cambridge, compared to more than 18 percent in the suburbs and 19 percent in Boston.— CATHERINE CARLOCK
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