Live Blogging the ONB UnTapped Seminar

ONB_UnTappedEntrepreneurialDistrictOperation New Birmingham is hosting “Untapped Opportunities: The Entrepreneurial District” in the B&A Warehouse.

  • Susan Matlock, President of the Innovation Depot, talked about the status of the redevelopment of the former Sears building
  • Robert Skunda, CEO of Virginia Biotechnology Research Park, is the keynote speaker right now talking about how they launched their development area
    • It was a partnership between the city, the state, and the university
    • The only state contribution in VA was $5M back in 1993
    • 49 States and numerous countries have Biotech strategies
    • The “Science Park” has been open for 10 years, had 587K of space, 43 private companies, 4 VCU institutes, 4 state laboratories, and 5 non-profits
    • First 10 acres had 48 different owners
    • Has made a commitment to adjacent neighborhoods NOT to develop amenities within the park
    • Developed “Biotech One” as a graduation-friendly 100K sq-ft multi-tenant building at a $15M total cost… there is a VCU-supported Master Lease and is now 100% leased
    • Developed “Biotech Two” at a total cost of $30M… 131K sq-ft build-to-suit project for the Virginia District of Foresnic Science and Office of the Chief Medical Examiner – it was dedicated in August 1998
    • Developed “Biotech Six” at a cost of $63M… 194K sq-ft to locate all major state laboratory services and includes 210-space city-owned parking structure – occupied since May 2003
    • Philip Morris USA is building a 450K+ sq-ft facility with $350M investment to consolidate global scientific research with emphasis on research leading to new product development… upwards of 700 scientists, engineers and support staff – completion scheduled in mid-2007
    • The latest building scheduled to start in two weeks is “Biotech Eight” with 75K sq-ft “wet lab” capabale facility… $22M construction cost with multi-tenant spaces ranging from 1,200 sq-ft to 25K sq-ft full-floor users
  • Additional seminars include:
    • Available buildings and sites
    • Financial incentives for locating businesses in the district and for (re)developing property in the district
    • Creating a “cool” tech community in the district and beyond
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