GlobeSt.com UPDATE: San Francisco at Top of List for Stem Cell Institute

EMERYVILLE, CA-The site selection committee for the California Institute of Regenerative Medicine this week released its final scoring of the proposals sent in by cities and counties to provide a home for the Institute, which will disburse $3 billion to third-party researchers over the next 10 years. The Institute is expected to help the winning city attract additional biotechnology and life-sciences firms.San Francisco received by far the highest score, 222.75, followed by Sacramento and San Diego, which almost tied, posting scores of 200.5 and 199.8, respectively. All three have been asked to give final presentations to the full board, which is not necessarily bound by the recommendations of its site selection committee. The presentations are scheduled for May 6. The board is expected to decide on a winner that same night. The institute is expected to open its permanent headquarters in July. The Institute and the money it will be dispensing was money approved by voters under Proposition 71 in November. Los Angeles, San Diego, Sacramento, San Francisco, San Jose, Emeryville and the San Mateo County Economic Development Association all submitted bids before the mid-March deadline. Emeryville, home to the Institute’s temporary headquarters, was given a score of 171.7. The bid requirements called for 17,000 sf of low- or no-cost office space to be provided for 10 years, at least 40 spaces of free parking and low-cost meeting and hotel facilities. Other requirements include being located within 45 minutes of an international airport and within one quarter-mile of public transportation. The institute states that these are “minimum requirements.” As part of San Francisco’s bid, Stockbridge Capital partners is offering to provide 20,000 sf of new office space across from SBC Park in Mission Bay (250 King Street) and provide it turnkey and free of charge to the institute for 10 years. In addition, Joie de Vivre Hospitality and Kimpton Hotels are offering more than 2,500 free room nights and additional 14,000 discounted room nights valued at $1 million, and Gensler Architects and general contractor Hathaway Dinwiddie also are offering free services. As part of the package, the City of San Francisco is offering to link the institute to its fiber optic network and provide free or low cost lab and conference space on the San Francisco General Hospital campus. The City of Sacramento is offering free rent in a building at One Capital Mall and $800,000 in tenant improvements in cooperation with the building owner, the Tsakopoulos family. In addition, the city will provide 40 parking spaces, free convention and meeting facilities, and discounts on hotel accommodations, office equipment and furniture, a city spokesperson tells GlobeSt.com. San Diego is offering free rent for 10 years in view space in the city’s biotech hub, as well as free grant-making consulting services from companies that work with the National Cancer Institute.