The opening of TechOne is an important step in TechTown's overall strategic plan to function as an urban center for technological research and entrepreneurial activity, says WSU president Irvin D. Reid.
TechTown encompasses a 12-city block area between the University Cultural Center and New Center, just north of Downtown Detroit between Woodward and Third Avenues. It is an area that, at one time, was teeming with business activity and was home to 84 businesses.
The TechOne building is the result of the renovation of GM's former Chevrolet Creative Services Building. GM donated the building to TechTown.
The $12-million renovation was funded by a number of private and public entities in partnership with TechTown including some that required financial ingenuity--given today's economic challenges.
The core and outer shell of the former GM building, originally built in 1927, were renovated along with the first and fifth floors. The fifth floor will house a combination of wet and dry labs and offices geared for life sciences companies.
TechOne's fifth floor already is 80% leased.
Among the key tenants is Asterand, a Detroit-based privately-held company that provides high quality biological information and materials to genomics and proteomics researchers investigating the causes and cures for cancer, heart and brain disease and others.
"We are honored to be one of the pioneering tenants at TechOne and within TechTown," says Randal Charlton, founder and chief executive officer of Asterand. "The TechTown village concept is an environment very conducive to our business and research needs."
Other TechOne tenants include: National Institutes of Health; MichBio; The Great Lakes Angels Network; and Wayne State Tech Transfer Office.The remaining floors of the 100,000-square-foot TechOne building will be revamped in stages of one per year, or sooner, depending on demand and funding.
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