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Stem-Cell Grant Will Yield $1.1B in Projects

SAN FRANCISCO-The institutions receiving the $271-million grant will invest upward of $1.1 billion to get 800,000 sf of facilities up and running within two years.

By Brian K. Miller | Updated on May 07, 2008

SAN FRANCISCO-The California Institute for Regenerative Medicine voted Wednesday to distribute $271 million to 12 institutions to build stem cell research facilities throughout California. The institutions have committed an additional $900 million to construct the facilities, build out the labs and attract the necessary faculty to conduct the research, all within the next 24 months.

To be built at public and private universities across the state, the research facilities will total nearly 800,000 sf. The accelerated construction schedule is expected to create thousands of construction jobs in an otherwise unstable economic climate.

The Institute was established in 2004 with the passage of Proposition 71, the California Stem Cell Research and Cures Initiative, and is funded through the sale of 30-year stem cell research bonds. The Institute was set up to distribute $3 billion in state funds for stem cell research to California universities and research institutions over 10 years.In 2005, 250 King St. in San Francisco was selected as the Institute’s headquarters. The city’s incentive package included free hotel and conference facilities, with architectural design services donated by Gensler and tenant improvements provided by Hathaway Dinwiddie. The building owner, Terry Francher, and the state Department of General Services executed the no-cost lease for the space.

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