Mayor Bloomberg Anounces Developer To Build Largest Biotech Campus In New York City

[update] added picture from enr.com...


$700 MM private investment in a new Bioscience center in NY...

link to biospace.com

Mayor Michael R. Bloomberg today announced the selection of Alexandria Real Estate Equities Inc. to develop the East River Science Park into the largest commercial bioscience center in New York City. The new 870,000-square-foot-facility, which will be built on a City-controlled site on Bellevue's campus that the City will lease to Alexandria, is expected to jumpstart the City's commercial bioscience sector by attracting the world's leading healthcare and pharmaceutical companies, and providing needed expansion space for the City's existing companies. The privately-financed, $700 million project is expected to create more than 2,000 permanent jobs and 4,000 construction jobs over the next 10 years. The total economic impact of ongoing operations of the development project is expected to be more than $350 million a year. Deputy Mayor for Economic Development & Rebuilding Daniel L. Doctoroff, Economic Development Corporation (EDC) President Andrew M. Alper, Health & Hospitals Corporation Acting President Alan D. Aviles, Bellevue Hospital Executive Director Linda Curtis, Alexandria CEO Joel S. Marcus, and Kathryn Wylde, President & CEO of the Partnership for New York City, the City's leading business group that committed up to $10 million toward the project through its New York City Investment Fund, also attended the event.