The $158 Million Transformation: 7 Shocking Facts About 99 Coolidge Avenue, Watertown's New Biotech Powerhouse

The property at 99 Coolidge Avenue in Watertown, MA, has undergone one of the most significant and costly commercial real estate transformations in the region, fundamentally changing the landscape of the local economy. As of late 2025, this address is no longer known as a popular fitness center but as a cutting-edge, purpose-built life science and exploratory lab space, attracting major biotech tenants from the highly competitive Cambridge market. The sheer scale of the redevelopment—a $158 million investment—underscores Watertown's emergence as a premier destination for the burgeoning Massachusetts biotech hub, cementing the town's role as a critical satellite to Kendall Square. This dramatic repositioning of the 255,000-square-foot facility is a prime example of the intense demand for mission-critical lab space in the Greater Boston area. The project involved a collaborative effort between major developers, architects, and the town itself, resulting in not just a new building, but also significant public improvements to Coolidge Avenue, including new signalization and a mid-block crosswalk, enhancing both commercial access and pedestrian safety in the area.

The Complete Profile: From Fitness Center to Biotech Flagship

The story of 99 Coolidge Avenue is one of radical reinvention, mirroring the broader economic shift happening across Watertown, MA. The site’s history as a community staple ended with its redevelopment into a state-of-the-art life science facility.

• Property Address: 99 Coolidge Avenue, Watertown, MA 02472
• Former Use: The Mount Auburn Club (A well-known fitness and tennis club)
• Current Use: Purpose-Built Life Science and Exploratory Lab Space
• Total Size: 255,000 Square Feet (SF)
• Site Area: 6.3 Acres
• Estimated Development Cost: $158 Million
• Developers: National Development and Alexandria Real Estate Equities
• Architect: Elkus | Manfredi Architects
• Construction Firm: Cranshaw Construction
• Major Tenant: Foghorn Therapeutics (Relocated from Kendall Square, Cambridge)
• Other Tenants: Triveni Bio, Inc. (Suite 450) and Revival Cafe

This transformation was not merely a renovation; it was a complete repositioning of an industrial-sector property to meet the specialized needs of modern biotechnology companies. The facility is now designed for mission-critical research, a testament to the high-stakes, high-tech nature of the tenants it hosts.

Why Biotech Giants Are Fleeing Cambridge for Watertown

The relocation of a significant biotech firm like Foghorn Therapeutics from the established Kendall Square to Watertown is a clear indicator of a major trend in commercial real estate. The decision by Foghorn, which signed an almost 73,000 SF lease, highlights the powerful economic forces driving companies away from Cambridge’s core.

The High Cost of Kendall Square

Kendall Square, while the historical epicenter of the global biotech industry, has become prohibitively expensive and densely developed. Land and leasing costs have skyrocketed, making it challenging for even well-funded firms to expand or maintain a large footprint. Watertown, and specifically developments like 99 Coolidge Avenue, offers a compelling value proposition: brand-new, purpose-built lab facilities with modern amenities at a more sustainable operational cost.

Purpose-Built Infrastructure

The new facility at 99 Coolidge Avenue was designed from the ground up to be a premier exploratory lab space. This means it features the specialized infrastructure—advanced HVAC systems, increased floor-to-ceiling heights, heavy-duty power supplies, and robust structural support—that is essential for complex biological and pharmaceutical research. The building’s design by Elkus | Manfredi Architects focused on creating a collaborative and efficient environment for the 112 employees Foghorn Therapeutics brought with them.

The Rise of the Watertown Biotech Cluster

The development is part of a larger wave of commercial developments sweeping through Watertown, effectively establishing a new biotech cluster. This concentration of life science companies creates a synergistic environment, attracting talent, fostering partnerships, and allowing companies like Triveni Bio, Inc. to thrive. The 6.3-acre site also incorporates nature and walking trails, offering a desirable quality-of-life amenity that is often missing in dense urban lab environments.

Community Impact and The Future of Coolidge Avenue

The redevelopment of the former Mount Auburn Club site was not just an internal project; it necessitated significant changes to the surrounding public infrastructure, demonstrating a commitment by the developers, National Development and Alexandria Real Estate Equities, to integrate the new facility into the Watertown community.

Major Traffic and Pedestrian Improvements

As part of the project, significant improvements were made along Coolidge Avenue to manage the expected increase in commercial traffic and ensure safety. This included the installation of new signalization at key intersections and the creation of a mid-block crosswalk near 99 Coolidge Avenue. These changes are crucial for managing the flow of employees and visitors while improving the experience for existing residents.

A New Local Amenity: Revival Cafe

The inclusion of retail space within the development is a common strategy to create a more vibrant, mixed-use environment. The opening of a Revival Cafe location in January at 99 Coolidge Ave provides a convenient, high-quality amenity for the lab workers and also serves as a new spot for the local community. This integration of commercial and retail space helps to soften the transition from a former recreational facility to a highly technical lab building.

The Economic Multiplier Effect

The $158 million investment and the subsequent arrival of companies like Foghorn Therapeutics and Triveni Bio, Inc. have a massive economic multiplier effect on Watertown. It increases the commercial tax base, creates high-paying jobs, and spurs demand for local services, housing, and amenities. This influx of capital and intellectual property solidifies Watertown’s position as a critical player in the Massachusetts innovation economy, moving beyond its historical identity to become a modern, high-tech center. The successful repositioning of 99 Coolidge Avenue is a blueprint for future industrial-to-biotech conversions across the region, showcasing how strategic real estate development can redefine a town's economic identity for the 21st century.

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