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Released February 13, 2015 | SUGAR LAND
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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--On any given day, in any given state, odds are good that a major construction project is under way on a college or university campus to build a research facility. A recent survey of active higher ed-sourced capital projects, as reported in Industrial Info's Pharmaceutical Biotech Online Database, shows that the top 10 projects with a 2015 kick-off date carry a total investment value (TIV) of $2.6 billion.
See image below for a chart listing the top 10 university life science projects.
Few projects of this magnitude spring up overnight, with the majority taking years to plan. With state budgets scrambling for dollars, it is somewhat remarkable to see so many large projects move forward and actually make it to construction. With state dollars not readily available, a number of schools are actively seeking and successfully landing private financing. The reasons and design behind many of the projects are varied, yet several common themes have emerged.
Translational research is at the top of every major university's planning agenda, as it speeds up the process of getting drugs or treatments to the patient--in effect, shortening the "bench to bedside" timeline. Collaborative research environments allowing multiple disciplines (i.e. biology, engineering) to work together in an open shared setting is a leading trend, as well.
The financial impact of these university projects becomes evident even when just considering the top 10 projects discussed here. Each of these projects has an Ivy League-worthy average TIV of $260 million. All of the referenced projects are forecast to begin construction sometime during 2015, and are in various stages of planning, engineering or construction.
Beyond these 10, active reported higher-ed projects range in TIV from several million dollars to update or create wet lab space in an existing building, to pricy monolithic research centers encompassing multiple buildings filled with a vast array of state-of-the-art equipment. Construction and equipment costs can approach $1,000 per square foot for sections of these new structures.
The largest of the 2015 projects is Northwestern University's (Evanston, Illinois) $500 million planned investment in the Feinberg School of Medicine Biomedical Research Center. Designed by Perkins + Will (Chicago, Illinois), the first phase of what eventually will be a total build-out of 1.2 million square feet of biomedical research space is be the construction of a 600,000-square-foot building. After years of planning and design changes, barring any major obstacles, the project will begin construction next year. Other team members include Affiliated Engineers (Madison, Wisconsin) and Thornton Tomasetti (Chicago).
Another heavy hitter is City University of New York (CUNY) Hunter College and its planned $400 million investment to build a 336,000-square-foot research facility. Sited on a 66,000-square-foot parcel off East 47th Street in Manhattan, the project is sourced out of a two-building partnership between CUNY and Memorial Sloan-Kettering Cancer Center, with the latter planning the eventual construction of a $1 billion, 750,000-square-foot hospital. Project team members include Perkins Eastman Architects (New York, New York), Ennead Architects (New York, New York) and Turner Construction Company (New York, New York).
The University of Michigan (Ann Arbor, Michigan) is set to begin construction this summer on its $261 million Biological Sciences Building. Located next to the school's existing Life Sciences Institute (LSI), the 300,000-square-foot building will house interdisciplinary research laboratories supporting the Department of Molecular, Cellular and Developmental Biology and the Department of Ecology and Evolutionary Biology. SmithGroup (Detroit, Michigan) and Ennead Architects (New York, New York) designed the Biological Sciences building to meet LEED Silver standards. Barton Malow (Southfield, Michigan) is serving as the project's general contractor.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
See image below for a chart listing the top 10 university life science projects.
Few projects of this magnitude spring up overnight, with the majority taking years to plan. With state budgets scrambling for dollars, it is somewhat remarkable to see so many large projects move forward and actually make it to construction. With state dollars not readily available, a number of schools are actively seeking and successfully landing private financing. The reasons and design behind many of the projects are varied, yet several common themes have emerged.
Translational research is at the top of every major university's planning agenda, as it speeds up the process of getting drugs or treatments to the patient--in effect, shortening the "bench to bedside" timeline. Collaborative research environments allowing multiple disciplines (i.e. biology, engineering) to work together in an open shared setting is a leading trend, as well.
The financial impact of these university projects becomes evident even when just considering the top 10 projects discussed here. Each of these projects has an Ivy League-worthy average TIV of $260 million. All of the referenced projects are forecast to begin construction sometime during 2015, and are in various stages of planning, engineering or construction.
Beyond these 10, active reported higher-ed projects range in TIV from several million dollars to update or create wet lab space in an existing building, to pricy monolithic research centers encompassing multiple buildings filled with a vast array of state-of-the-art equipment. Construction and equipment costs can approach $1,000 per square foot for sections of these new structures.
The largest of the 2015 projects is Northwestern University's (Evanston, Illinois) $500 million planned investment in the Feinberg School of Medicine Biomedical Research Center. Designed by Perkins + Will (Chicago, Illinois), the first phase of what eventually will be a total build-out of 1.2 million square feet of biomedical research space is be the construction of a 600,000-square-foot building. After years of planning and design changes, barring any major obstacles, the project will begin construction next year. Other team members include Affiliated Engineers (Madison, Wisconsin) and Thornton Tomasetti (Chicago).
Another heavy hitter is City University of New York (CUNY) Hunter College and its planned $400 million investment to build a 336,000-square-foot research facility. Sited on a 66,000-square-foot parcel off East 47th Street in Manhattan, the project is sourced out of a two-building partnership between CUNY and Memorial Sloan-Kettering Cancer Center, with the latter planning the eventual construction of a $1 billion, 750,000-square-foot hospital. Project team members include Perkins Eastman Architects (New York, New York), Ennead Architects (New York, New York) and Turner Construction Company (New York, New York).
The University of Michigan (Ann Arbor, Michigan) is set to begin construction this summer on its $261 million Biological Sciences Building. Located next to the school's existing Life Sciences Institute (LSI), the 300,000-square-foot building will house interdisciplinary research laboratories supporting the Department of Molecular, Cellular and Developmental Biology and the Department of Ecology and Evolutionary Biology. SmithGroup (Detroit, Michigan) and Ennead Architects (New York, New York) designed the Biological Sciences building to meet LEED Silver standards. Barton Malow (Southfield, Michigan) is serving as the project's general contractor.
| Project ID | Project TIV | Project Name |
|---|---|---|
| 300095763 | $500,000,000 | CHICAGO FEINBERG SOM BIOMEDICAL RESEARCH CENTER (MRC2) ADDITION PHASE I |
| 300094192 | $400,000,000 | NEW YORK CITY 74TH ST. HUNTER COLLEGE SCIENCE & HEALTH PROFESSIONS BLDG ADDITION |
| 300163663 | $350,000,000 | CAMBRIDGE UNIVERSITY NANOTECHNOLOGY BUILDING (MIT.NANO) ADDITION |
| 300156001 | $261,000,000 | ANN ARBOR BIOLOGICAL SCIENCE BUILDING ADDITION |
| 300022437 | $225,000,000 | BRONX COLLEGE NEW SCIENCE BUILDING PHASE II EXPANSION |
| 300128833 | $200,000,000 | NEW YORK UNIVERSITY RIVER RESEARCH BUILDING ADDITION |
| 300197771 | $170,000,000 | EDMONTON COLLEGE SINGHMAR CENTRE FOR LEARNING ADDITION |
| 300164625 | $170,000,000 | INDIANAPOLIS UNIVERSITY WISHARD CAMPUS R&D REDEVELOPMENT ADDITIONS/RENOVATIONS |
| 300133583 | $160,000,000 | SEATTLE (CAS) LIFE SCIENCES COMPLEX 1 ADDITION |
| 300016992 | $153,000,000 | SEATTLE SOUTH LAKE UNION UW MED SCHOOL RESEARCH EXPANSION PHASE 3.2 |
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
