It's a 17-year undertaking that would add two million sf. The project calls for about 15 site pads, each totaling 127,000 sf. John Walsh, executive director of the Southeast Texas BioTechnology Park Coalition, tells GlobeSt.com, that each building will cost about $33 million to build. Health-care facility specialists, Browne, Penland, McGregor and Stevens have been tasked to design the park.

Walsh says M.D. Anderson Cancer Center has purchased the first building and he hopes to have two more buildings committed before a planned June groundbreaking. The park is located in the Texas Medical Center's south block. An estimated 90% of the cost will come from private sources, with 7% being funded by local government and 3% from the state. The state will own the land, but the project will be developed by a master-leased nonprofit. The University of Texas currently owns 40 acres in the project area, of which 24 are targeted to be sold.

The idea had first surfaced about 10 years ago, but it's just been the past year that it's made any progress. Currently, biomedical research discoveries are exported to other states for commercialization. The $20 billion a year industry carries a $27-billion impact. Without a doubt, Houston's "Biotech Economic Cluster" in the Texas Medical Center has the research capabilities to support it.