The acquisition involves an eight-acre parcel that is part of the 27 acres needed to get the project started. The first phase of the $300 million project involves four office buildings of 110,000 sf each.

But Deborah Burke marketing director for the Mystic Valley Development Commission tells GlobeSt.com that economic conditions are going to dictate the pace of development. The commission, created by an act of the state legislature in 1996, is overseeing the development of Telecom City. That legislation was passed in a very different economic reality and in the past few years with the collapse of the telecom industry the project has struggled to get off the ground.

Burke notes that the master developer of Telecom City, Preotle, Lane & Associates Ltd., is not planning to start construction until it has a number of tenants lined up for some space. "They won't build on speculation," says Burke. "They are waiting for tenants that will occupy a certain percentage of the buildings."

To that end, Medford Mayor McGlynn says that project planners will be "stepping up marketing efforts for the site" over the next few months. "As part of that effort and given the realities in the marketplace, we will be broadening the development's focus in anticipation of attracting a wide array of innovative companies including those in the biotechnology and life sciences arenas," he notes.

Burke says that the Romney administration has also asked Preotle, Lane to consider adding 200 units of housing to the first phase of the project. Until now, the project has been strictly office space with some retail and support services. She says that Preotle, Lane is looking into the residential possibility and has four months to return to the MVDC with a plan. The state has provided $25 million to the project while the federal government has given close to $15 million.

The governor's office has also asked that the name of the project be changed. In a press release McGlynn says, "We will also be changing the name of the tri-city development to broaden its appeal to many different types of innovative companies." Burke emphasizes that the governor's office is specifically targeting life sciences and biotech companies.

The developer has completed clearing the site of the first phase by removing more than 30 buildings and beginning the reconstruction of the roadway which will be completed by December.

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