Head of Class: Top 10 University Life Science Projects in North America Exceed $2 Billion in 2013

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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--North American universities and colleges are continuing to invest hundreds of millions of dollars to beef up life science research infrastructures. These construction projects vary widely in total investment value (TIV). A recent survey of all reported university-sourced capital projects found in Industrial Info's Pharmaceutical Tracker - Online Database shows that the top 10 projects scheduled to begin construction in 2013 are valued at $2.1 billion.

Despite ruthlessly slashed state budgets across the country, virtually every capital plan sent up for approval to the respective governing boards includes at least one sizeable life science project to add research capacity. In instances where the state cannot find room in its budget for these projects, a number of schools are seeking private financing so the research facilities can be built.

The financial impact of these university projects becomes evident even when just considering the top 10 projects for the year. In the case of 2013, each project carries an Ivy League-worthy average TIV of $200 million. Beyond the top 10 discussed here, reported university-based construction 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 and filled with a vast array of state-of-the-art equipment. Construction and equipment costs can sometimes approach $1,000 per square foot for sections of these new structures.

All of the referenced projects are forecast to begin construction in 2013 and are in various stages of planning, engineering or construction. To date, the largest of the projects scheduled to begin this year is the $375 million being invested by the Buffalo Niagara Medical Campus with The State University of New York at Buffalo. The university plans to construct a new School of Medicine and Biomedical Sciences Building. Designed by HOK Architect (New York, New York), the 500,000-square-foot building will be constructed to LEED Gold standards and feature both research and academic space. Construction is expected to begin later this year, with completion in early 2016.

The second-largest project is also located in New York, at Stony Brook University in Albany. AECOM (NYSE:ACM) (New York, New York) designed and will be project manager for the $318 million Medical & Research Translation Building (MART) & Bed Tower. Construction should begin this fall and be complete in 2016. It is on trend that a project that features a major research component is paired as one with a 150-bed patient wing. The goal of translational medicine is to get a treatment from "bench to bedside" as quickly as possible.

Rounding out the top three is the University of Pittsburgh Medical Center's (UPMC) plan to create the $294 million Center for Innovative Science at the former Ford Motor Company building adjacent to its campus. Washington D.C.'s ZGF Architects has been on board with Oxford Development Company (Pittsburgh, Pennsylvania) working on the project dating back to its conception in 2007, following the purchase of the site by UPMC for $10 million. The project has been delayed numerous times for a multitude of reasons, mainly financial. If the project moves forward this year, it will include the renovation of the existing 150,000-square-foot building and a 200,000-square-foot addition. The Center's focus of research will be on identifying genetic and environmental factors contributing to the development of cancer.

As illustrated by the UPMC project, it is important to remember that any reported project is up for debate, up to and including when it begins construction. Project activity is monitored closely for a variety of changes, including project status and value.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, 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.