NYC biotech developments garner buzz

New York /
Oct.October 20, 2010 01:30 PM

From left: renderings of BioBAT in Brooklyn and Alexandria Center for Life Science

The construction of two new biotechnology centers in the city is spurring hope that New York City could become a hub of scientific activity, according to the New York Times. The Alexandria Center for Life Science, a $200 million, 310,000-square-foot commercial laboratory developed by Alexandria Real Estate Equities, sits on the corner of 29th Street and First Avenue. While the facility has only signed one tenant so far — Eli Lilly and Company, a pharmaceutical company that has taken 90,000 square feet — Alexandria founder Joel Marcus said he’s planning to build two new towers nearby. If the two additions are completed, the complex could reach 1.13 million square feet. The other commercial lab, which has only completed its first phase of construction, is the planned 1.8 million-square-foot BioBAT complex in the Brooklyn Army Terminal. The biotech center, which is being developed through a partnership between the New York City Economic Development Corporation and the SUNY Downstate Medical Center, doesn’t have any tenants signed on yet. [NYT]

 

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