MIAMI, Fla. — The University of Miami Life Science and Technology Park — currently under construction — has pre-leased 80,000-square feet of office and lab space to its first tenant, the University of Miami Tissue Bank.
Project developer Wexford Miami, a subsidiary of Wexford Science and Technology of Hanover, Md., finalized the lease in the park’s first building, currently under development. The park’s first phase, a 252,000-square-foot, six-story facility slated for completion in the summer of 2011, will house wet and dry labs, offices, and lab-ready development suites. Wexford Miami is financing the development with $60 million in tax-free bonds. Whiting-Turner of Baltimore is the general contractor for the project.
As part of the university’s Miller School of Medicine, the UM Tissue Bank will use the space to perform cutting-edge research on regenerative technology in replacing damaged bones, joints, and tendons.
Final plans for the technology park call for five buildings comprising 1.6 million square feet of space to be built within the city’s health district, home to the University of Miami Miller School of Medicine and six hospitals.
Pre-certified as a LEED Gold facility, the park has been designed to reduce energy use and improve environmental stewardship. Indoor and outdoor community spaces and street-level retail stores will serve the Miami Health District and residents of nearby neighborhoods as well. Environmentally friendly features proposed for park buildings include a grey water recycling system, chilled beams, green roofs, and a rainwater capture system used for irrigation.
“The collaboration that will unfold between university faculty and research teams at the UM LSTP has the potential to advance science that will positively impact the lives of people everywhere while simultaneously advancing the Miami Health District as a center for scientific innovation,” says Dr. Bart Chernow, professor of medicine and vice provost of technology advancement at UM.
For more information, visit www.umlsp.com.