TechTown lands $1.5M grant for ongoing renovations

The Kresge Foundation has awarded TechTown a $1.5 million grant that will be used for ongoing renovations at TechOne, the business incubator's Burroughs St. headquarters. Some of the funds will also be used for operating capital.


The bulk of the funds will be used to build-out a floor of TechOne, which will give the building an additional 20,000 square feet of usable space. This is imperative to TechTown's success, says executive director Randall Charlton, since only one-third of the 100,000-square-foot building is currently occupied. "Last year we had over 100 firm inquiries from entrepreneurs that wanted to come to TechTown." If start-ups cannot find space at his facility, "They'll go elsewhere," he says.

Construction will begin immediately and will include office and laboratory space. "It is crucial as we try and build this community of entrepreneurs that we get as much space as possible ready for occupancy," says Charlton. "This is a very exciting next stage in TechTown's development."

TechTown is currently home to more than 30 entrepreneurial, technologically oriented companies, including NextEnergy, whose 45,000 square-foot facility is located across the street from TechOne. Another significant tenant includes Asterand, which has become an international, publicly traded company.

Source: Randall Charlton, Techtown
Writer: Kelli B. Kavanaugh