BURLINGTON - The 3 Burlington Woods Drive building is the next target for a life science business in town.
GI Partners, doing business under the legal entity of GI ETS Burlington I LLC, recently appeared before the Planning Board seeking approval for six special permits and one site plan.
The overall concept of the proposal is to allow for the conversion of an existing 160,000 square-foot, 4-story building into a modern life science facility.
Founded in 2001, GI Partners is a private investment firm with over 130 employees and offices in San Francisco, New York, Chicago, Greenwich, and Scottsdale. The firm has assets under management totaling $35 billion and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the healthcare, IT infrastructure, services, and software sectors. The real estate team focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy.
The 3 Burlington Woods Drive building was erected int 1985, and GI Partners bought it earlier this year and are excited to convert it into a lab use.
The building is adjacent to 4 Burlington Woods Drive, which is owned by The Gutierrez Company who recently converted that property into a property specifically for life science uses.
Changes to the site are relatively minor for 3 Burlington Woods Drive, entailing loading dock enhancements and the addition of internal square-footage through the filling of existing atrium space in the building. Also, part of the parking underneath the building will be enclosed, resulting in the floor-area-ratio increasing from .33 to .38, still well within the limits of the zoning bylaw.
The building’s footprint will remain the same as it is today.
Planning Staff stated they have no issues with the use, but suggest the applicant add some landscape islands and potential internal reconfiguration. The Planning Board expressed a desire to see the landscaping plan at its next meeting.
The board voted to continue this matter to its meet in July 21.