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The M, the first new high-rise to be developed in the 2-square mile University District in more than 30 years, will add 460 purpose-built beds, which will increase the total off-campus supply by 10.5%.
New retailers are set to open locations at Southlake Town Square including Lush Cosmetics, Johnny Was and TravisMathew, which are expected to open in early 2019.
ESD released its study supporting the Queens neighborhood as a key component of the city's developing its life sciences industry, shortly after Alexandria purchased The Bindery at 30-02 48th Ave. in LIC for $75 million.
The Southport, CT-based development firm says the extremely discounted price will allow Summit Development to renovate and reposition the 1.2 million-square-foot complex.