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CAMBRIDGE, MA-Meredith & Grew has been designated by Lyme Properties as property manager for the massive hotel, office, lab and residential project the firm is building in what was once an old industrial site in Kendall Square.

The project, a master-planned development, currently consists of two life science buildings and a 1,400-sf space, below-grade parking garage. At full build out the project will include 735,000 sf of life-sciences space in three buildings, approximately 50,000 sf of retail space, a 150-room hotel, 350,000 sf of residential units, 2,000 below-grade parking spaces, a boat facility, an ice skating area and an 85,000-sf performing arts center. The entire complex is scheduled for completion in 2006.

Lyme Properties bought the nine-acre site five years ago and the firm managed to placate local activists who opposed the project’s size by scaling back and adding more open space. The New Hampshire-based Lyme Properties focuses on the acquisition, development and ownership of laboratory space to service the life science industry. The firm has acquired, developed and leased approximately 1.5 million sf of commercial space and is currently developing an additional two million sf.

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