The park will rise immediately adjacent to the University of Colorado's new Health Sciences Center, which covers some 230 acres of the former medical center site and includes two university hospitals, offices and research facilities. The Fitzsimons Redevelopment Authority controls the remaining 300 acres of the medical center, 160 acres of which will be used for the bioscience park. A portion of the park will be used to provide facilities for companies conducting private research associated with that of the University, including its Webb-Waring Institute for Cancer, Aging, and Antioxidant Research

As per the agreement, Forest City will lease the ground from the FRA on a long-term basis (75 years). Instead of standard lease payments, Forest City will give the FRA a percentage of the property's net cash flow. In addition, Forest City will make annual option payments in order to secure its exclusive right to develop the land. Farnham tells GlobeSt.com that the FRA's net cash flow take starts at 10% and that the option payments start at $250,000 and jump to $450,000 in four years. It isn't yet clear how much 10% of the development's cash flow might mean in dollars, Farnham says.

The bioscience park will expand on 85,000 sf of life science space in two buidlings already developed by the FRA. One of those buidlings is an incubator and the other is for more mature companies. The buildings have combined vacancy of about 15%, Farnham says.