Innovation is happening in the most unlikely of places. New faces are filling in more than 430,000 square feet of office space in Fenway, primarily of which are startups.
Startups Appcues, Shoobx, FaceFoward, Her Campus Media and Toast have taken to Hatch Fenway, a 110,000 square foot office space in the Fenway area. Toast was the first of Hatch Fenway’s residents. When they were looking for a space that would accommodate their growing team, while keeping costs at a minimum. Toast’s main concern was finding an area that had “energy and vibrancy to it.”
With Landmark Center, a hub for shopping and restaurants, and Fenway Park right in the middle, Fenway has long been home to a vibrant culture. New to its area are companies like that of Toast.
Fenway is not only becoming an area for startups to find their office locations, but it’s starting to become a community space for events and idea-sharing among companies. Athenahealth is hosting a happy hour for the health tech community. Hatch is hosting a community conversation on minorities and diversity in tech.
Why the draw for startups to Fenway? Bostinno writer Dylan Martin speculates Fenway could be the next innovation district. He wrote that Fenway provides a more affordable option than that of Kendall Square or the Seaport District, while still giving ample access to the city. The biggest factor, however, is that Fenway is able to provide more space than a traditional co-working space without the requirement to commit to long-term leases. This provides enough space for the company to grow at a reasonable cost.
What other companies are most likely to join this trend? We’re keeping a close eye on Fenway and other companies moving in.Tags: Commercial Real Estate, Fenway, Innovation District, Startups