ConDig (02-Jan-18).  Developer and contractor Skanska has landed a $47 million deal to build a biology, engineering and psychology facility at Swarthmore College in Pennsylvania.

The company said the roughly 15,000-square-meter facility is planned as a model for environmentally intelligent construction practices aligned with Swarthmore’s new sustainability standard.

Construction of the project is underway and is expected to be completed in August 2020.

Skanska also announced that it has sold its Watermark Seaport multi-family development in Boston to CLPF Residences at Seaport LLC.

The company’s equity ownership is 42.75% and sale of the stake is set to raise $60 million, which will be recorded in Skanska’s USA commercial development division in the fourth quarter.

Transfer of ownership of the property to CLPF Residences at Seaport LLC will occur in the first quarter of this year.

The 28,000 square-meter Watermark Seaport project is LEED Gold certified and features 346 residential units in a 17-story luxury tower and a 6-story loft building.

Construction of development started in the first quarter of 2014 and was completed in first quarter of 2016.