What's going up: Development in and around Boston

• Biotech venture capital funding dropped to $3.3 billion in the first half of 2025, the slowest pace since the pandemic.

🏢 Still, a Dedham developer plans a massive $500 million lab and housing campus with up to 1.5 million square feet on 57 acres by Routes 128 and 135.

• The project could include as many as 644 apartments, 400,000 square feet of lab space, and 470,000 square feet of research and development space.
• It'd be Dedham's largest commercial development since Legacy Place in 2009.

🏨 Developers proposed a seven-story, 96-room hotel at 393 Cambridge Street in Allston to replace the current Advance Auto Parts location.

🏠 Redgate broke ground on a 170-unit housing development in East Boston's Day Square, with construction estimated at $43 million and a late 2026 completion target.

⛪ The former Blessed Sacrament Church in Jamaica Plain will be converted into 55 affordable apartments and a 200-seat cultural center on Centre Street.

• The $40+ million renovation project is expected to be completed in late 2027.