Please do not leave this page until complete. This can take a few moments.
Yale University said it has leased 125,000 square feet in a new bioscience tower planned for downtown.
The university is also throwing its financial support behind a new life sciences incubator to be housed there for fledgling startups.
In a statement, Yale officials said the university plans to occupy three floors of office and lab space in the building, which is being built by Massachusetts developer Carter Winstanley.
Meanwhile, BioLabs, a Cambridge-based company that specializes in managing co-working space for life science startups, will run the new 48,000-square-foot Yale-backed incubator.
BioLabs describes itself as a “national, membership-based network of shared lab and office facilities located in key biotech innovation clusters,” according to its website.
It has eight other locations, including in Boston, New York, Philadelphia, Los Angeles and Durham, North Carolina.
The incubator will serve startups from around the state, including companies spun out of research at UConn and other institutions, according to Yale. Yale said it will allow New Haven biotech startups to remain close to the university’s research facilities.
“Improving our STEM entrepreneur and innovation ecosystem, including our core facilities, are central tenets of our university science strategy,” said Yale Provost Scott Strobel in a statement. “Our investment in 101 College Street attends to those and many other future needs.”
Yale had long been expected to become a tenant in the building, but the university officially announced the lease at the Yale Innovation Summit Friday afternoon, during a panel discussion on the future of biotech in New Haven.
The university said the leased space will remain on the city tax rolls. Yale would not disclose financial terms of the lease or say how much it is investing in the incubator.
Yale will join growing New Haven biotech Arvinas Inc. in anchoring the building. Arvinas, a company spun out of Yale, announced earlier this month that it will lease 160,000 square feet on three floors of the new tower.
The new 10-story, 525,000-square-foot building is slated to go up across from an earlier Winstanley bioscience development at 100 College St, which currently houses Alexion Pharmaceuticals. The Alexion building is also slated to house a planned Yale neuroscience center.
Both buildings are located near Yale’s medical school and Yale New Haven Hospital, and are part of the city’s Downtown Crossing revitalization project, which aims to reconnect the medical district with downtown.
Officials are planning to break ground on 101 College St. on June 7 at 1 p.m.. Construction is expected to take around two years.
Contact Natalie Missakian at news@newhavenbiz.com
This story has been updated
This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments