Alexandria Center for Life Science Will Connect Academic and Medical Institutions, Scientific Talent, Investment Capital and Life Science Entrepreneurs in One Complex
Will Foster Commercial Life Science Innovation and Help Diversify New York City’s Economy
New York, NY – December 2, 2010 – (RealEstateRama) — Mayor Michael R. Bloomberg, Assembly Speaker Sheldon Silver, Deputy Mayor for Economic Development Robert K. Steel and Alexandria Real Estate Equities CEO Joel S. Marcus today opened the Alexandria Center for Life Science – New York City, a state-of-the-art science park on Manhattan’s East Side. The new 310,000-square-foot, 15-floor facility, the first of three buildings to be developed as part of Alexandria’s newest life science cluster campus, will connect and foster unique and innovative collaborations among New York City’s world-renowned academic and medical institutions, preeminent scientific talent, access to venture capital funds, and the commercial life science industry. Growing New York City’s commercial life science industry is a central goal of the Bloomberg Administration’s economic diversification strategy to spur entrepreneurship and promote high-growth industries in which the City has competitive advantages. Joining the Mayor at the event, which took place at the Alexandria Center at 450 East 29th Street in Manhattan, were Manhattan Borough President Scott M. Stringer, Council Member Daniel R. Garodnick, New York City Economic Development Corporation President Seth W. Pinsky, Community Board 6 Chair Mark P. Thompson, Partnership for New York City President and CEO Kathryn Wylde and Albert and Mary Lasker Foundation President Maria C. Freire.
“New York City has all the makings of a major center for commercial life science – an unparalleled workforce, top academic and medical institutions and prime access to investment capital – but we’ve lacked sufficient state-of-the-art commercial lab space to capitalize on those advantages. The new Alexandria Center for Life Science is addressing that need in a major way,” said Mayor Bloomberg. “The world-class complex, which is already attracting both established and startup entities, will foster innovation within the growing life science industry, create jobs and help diversify New York City’s economy. Alexandria Real Estate Equities has a proven track-record of developing enormously successful commercial life science campuses around the nation, and its investment in the new center signals a major vote of confidence in New York City’s future.”
“I am proud to have strongly supported the construction of this facility, a vanguard of innovation and sustainability, which was made possible by the powerful and visionary public/private partnership driving the growth of the medical and life sciences corridor here in Manhattan,” said Assembly Speaker Silver. “With access to the city’s hospitals, universities, labs and bioscience companies, this center will help transform ideas into products and technologies that will improve people’s lives, while creating jobs and opportunities that will strengthen our economy.”
“Collaboration has played a key role in advancing the most important discoveries. We have brought to New York City a one-of-a-kind, vibrant science park in the city which will enable the development of future important scientific breakthroughs,” said Joel S. Marcus, CEO, Chairman and Founder of Alexandria Real Estate Equities. “The Alexandria Center will help shape New York City as an international epicenter for collaborative exchange and innovation in the international life science community, furthering our strategy of creating first–in-class life science clusters.”
The Alexandria Center has already attracted leaders in the industry such as Eli Lilly & Company, whose subsidiary focused on cancer research, ImClone Systems, is headquartered in the building. Other tenants include Kadmon Pharmaceuticals, a leading-edge biopharmaceutical company focused on collaborating with academic centers and private enterprise at the forefront of innovation to pioneer medicines in the areas of oncology, infectious diseases and immunology; Firmenich, a leading European-based producer of fragrance and flavors; a world-class neuroscience translational research institute; as well as a top pharmaceutical innovative unit.
The Alexandria Center will ultimately consist of an approximately 1.1 million-square-foot campus. The facility is at the forefront of innovation, design and sustainability; the core and shell building design and construction are LEED Silver certified. With its location adjacent to pre-eminent research and medical institutions, renowned universities and top financial services companies, the Alexandria Center has quickly established itself as an international destination for the life science community. The openness of the campus’s design fosters the collaborative environment sought by the life science community in its quest to develop the therapies and medical products of tomorrow. It features state-of-the art digital conference and event center designed to be the destination for major corporate and social events, as well as life science industry events. The Alexandria Center also features two outstanding culinary establishments – Riverpark, a Tom Colicchio Restaurant, and ‘wichcraft, Tom Colicchio’s sandwich shop, which will serve the New York City community.
Alexandria Real Estate Equities is the largest real estate investment trust focused principally on science-driven cluster formation. Alexandria’s “cluster model” provides the entrepreneurial and collaborative environments needed to advance scientific discoveries and commercialization, by bringing together pharmaceutical and biotech companies, academic institutions, government organizations, and venture capitalists in one location.
“New York City’s top-tier healthcare sector and world-class medical research capacity is less heralded than some of the City’s other economic assets, but they are among our greatest strengths,” said Deputy Mayor Steel. “The Alexandria Center for Life Science will capitalize on them, at a time when fostering innovation, creating jobs and diversifying our economy is as important as ever.”
“New York City has always been at the forefront of the latest developments in science and technology,” said Senator Charles Schumer. “By bringing all the fantastic academic and science institutions New York has to offer under one roof, the Alexandria Center will ensure that New York remains at the cutting edge of these fields. I want to congratulate Mayor Bloomberg and Speaker Silver on their fantastic work making this dream a reality.”
“No other state is poised to lead in the high-tech economy of the future like New York,” said Senator Kirsten Gillibrand. “Our state is home to the universities, businesses, laboratories, researchers and the bright minds we need for long-term economic strength. Investing in new science parks like the Alexandria Center for Life Science will help ensure New York continues to compete and win in the global economy.”
“The Alexandria Center for Life Science is a perfect fit for the East Side, and will help further New York’s status as the world’s foremost hub of innovation and entrepreneurship,” said Congresswoman Carolyn Maloney. “I thank Mayor Bloomberg, Speaker Silver and Alexandria Real Estate Equities for all they’ve done to make this new science park a reality.”
“I am thrilled to welcome the Alexandria Center for Life Science to Manhattan’s East Side,” said Borough President Stringer. “Institutions like this will help pioneer New York City’s innovation economy and continue to attract the best and the brightest in scientific talent. With facilities like the Alexandria Center, I am confident that the next world-altering scientific discovery will emerge, not from Tokyo or Melbourne, but out of the heart of New York City.”
“The Alexandria Center promises to be a home not just for cutting-edge scientific progress but also economic recovery for our city,” said Council Member Garodnick. “Building on the work of our existing world-class research and medical institutions, the pieces are now firmly in place for New York City to become a world leader in the bio-sciences, and we look forward to many great achievements.”
“The opening of the Alexandria Center for Life Science is another sign of New York City’s expanding role as a leader in the innovation industries of tomorrow and as a hub for the life sciences industry,” said New York City Economic Development Corporation President Pinsky. “This event is a significant step forward for the City’s economy, and represents a triumph for global health, given the biomedical advances that will no doubt take place here.”
“Today’s launch is another example of our success in expanding high technology and biotechnology business in New York,” said Empire State Development Chairman & CEO Dennis M. Mullen. “New York State is pleased to be a significant investor in the development of this key biotech asset for New York City. We are proud that the $1 million incentive offered to ImClone helped establish an anchor tenant for the complex and jump start the momentum toward filling the space. I’d like to congratulate the Alexandria Center on its launch; it will no doubt encourage continued growth in the life sciences and biotech sectors.”
“Alexandria Center for Life Science is an important anchor for New York’s growing life sciences industry,” said Partnership for New York City President and CEO Kathryn Wylde. “Discoveries made in our great research institutions can now be developed and commercialized right here in the city, generating new jobs and economic activity.”
“Community Board Six is proud to have had a role in creating the new Alexandria Center for Life Science,” said Manhattan Community Board 6 Chair Mark P. Thompson. “After many years of working in concert with the City, State and Alexandria, we now have a major new element that will strengthen our City’s health science corridor, attract an important and growing industry, and provide a home for discoveries and cures.”
The Alexandria Center is located on a three-acre City-owned site and the City provided $13.4 million in capital funds for its construction. The State of New York is provided $27 million for infrastructure work in connection with the project, and Manhattan Borough President Scott Stringer contributed $500,000. Additionally, the New York City Investment Fund, the economic development arm of the Partnership for New York City, is providing $15 million in funding to be used for tenant improvements. About $2 million in funds from the U.S. Economic Development Administration has been secured for the project.
New York City has unparalleled resources that make it the ideal location for bioscience business, including access to the largest concentration of academic medical institutions, a metro area having the largest concentration of bioscience employees in the country, two bioscience incubator facilities, proximity to business leaders, an investment community that includes more than 100 venture capital firms investing in healthcare and now, a network of state-of-the-art facilities to accommodate commercial bioscience businesses and related research activities. Earlier this year, the City began construction of BioBAT, a 486,000-square-foot center for commercial bioscience at the Brooklyn Army Terminal, the first phase of which will be completed in 2011. The City is a partner in the New York City Bioscience Initiative, a public-private partnership including New York City Economic Development Corporation and Partnership for New York City. For more information about the New York City Bioscience Initiative, visit www.nycbiotech.org.
MEDIA CONTACT:
Stu Loeser / Andrew Brent (212) 788-2958
Joel Marcus (Alexandria Real Estate Equities) (626) 578-0777
Julie Wood / Libby Langsdorf (NYCEDC) (212) 312-3523
