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Houston is Poised for Economic Infusion from Two Mil-SF Biotechnology Park

HOUSTON-The plan's been on the drawing boards for a decade. June will bring a ground breaking for a two-million sf biotechnology park that offers a sure shot of adrenalin for any economy.

By Jennifer Brenner Andrade | Updated on February 22, 2001

HOUSTON-A public-private partnership is working to develop the Southeast Texas BioTechnology Park, a master-planned 64-acre, $633-million development aimed at bringing the commercial biotechnology industry to the Texas economy.

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.

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