Medford Moves To Attract Biotech, Life Science Companies

MEDFORD, MA — The city is pursuing new development to expand its life science and biotechnology industries.

There are three projects underway in Medford: Oxford Properties is beginning work on a 90,000-square-foot bio-manufacturing facility at 23 Sycamore Ave, RISE Together has released a proposal for a seven-story, 250,000-square-foot biotechnology development at 4054 Mystic Valley Parkway and Cummings Properties is planning a 37,000-square-foot expansion of their property at 200 Boston Avenue.

In addition, the Davis Company's 320,000-square-foot office building at One Cabot Road is being marketed as a life science conversion opportunity.

Officials say Medford is poised to capitalize on the region's growing life science and biotechnology industry, given its location in the greater Boston area, abundant commercial zones and proximity to rapid transit and life science corridors in the surrounding communities.

"This is exactly the kind of development that we as a city should be exploring," Mayor Breanna Lungo-Koehn said in a statement. "Our existing commercial districts have incredible value – their location, lot sizes, and overall development potential – and this type of development will greatly expand our commercial tax base and bring in hundreds of new jobs to Medford, providing many benefits to our residents and to our community as a whole."

The Office of Planning, Development and Sustainability has proposed zoning changes to existing industrial areas, which currently allow only low-rise buildings with large surface parking lots, to encourage future development.

"This is an exciting opportunity to put Medford on the map and connect our city to the greater Boston area’s life science corridor, and it is no coincidence that this type of development is interested in Medford as we are working through our city’s first-ever Comprehensive Plan," Lungo-Koehn said. "Like all that we do, we will continue to be open and transparent and will provide options for community input as we continue to see interest from these types of developers. We are being strategic about the future of our community, and it is paying off."

Viktor Schrader, Medford's economic development director, is working with potential developers and the Board of Health to ensure facilities meet community and industry safety standards. The role was created by the mayor in 2020 to help facilitate development in Medford.

"Medford is well positioned to take advantage of the life science and biotech growth in the greater-Boston area," Schrader said. "Medford is quickly becoming a market hot spot and developers are seeing the investment potential here. The revenue potential for the city is incredible, but we also want to make sure these developments benefit the residents by improving the city’s infrastructure and enhancing the sense of place that makes Medford so great."

The city is working with the Massachusetts Biotechnology Council to be designated as a "bio-ready" community, a list developed by the organization to help encourage the expansion of biotechnology in the region. Medford has not previously been included on the list.

"The Chamber of Commerce welcomes the new jobs and commercial investment that biotech will bring," said Maury Carroll, president of the Medford Chamber of Commerce. "We have been watching this industry grow in other places and are excited to see it finally coming to Medford."