Life Science, Real Estate and Design Communities Project Rapid Expansion of Life Sciences Industry in New York City
The First Annual Life Sciences 2018 Real Estate Development Symposium attended by more than 250 participants was held yesterday for real estate, design and life science professionals at The New York Academy of Sciences in New York City on Tuesday, June 12, 2018.
Over 250 scientists, biotech, real estate, and design professionals joined together at the Life Sciences Real Estate Development Symposium to reimagine the way New York City capitalizes on future growth and new technological developments in biology, and to begin planning new environments to accommodate the projected rapid expansion of applied life sciences in the City and globally.
The newly formed NYC Builds Bio+ initiative, an interdisciplinary collaborative organization of leaders in real estate and life sciences, was announced at the meeting in anticipation of the projected unprecedented decade of growth ahead.
The Potential for Life Sciences Real Estate Expansion in NYC
The Symposium focused on the potential for the expanding market, the specialized infrastructure required by life science companies, and the financial components of development and lease transactions of life science companies.
The meeting was especially timely with the City of New York recently announcing its intention to establish an Applied Life Sciences Hub, the flagship project of LifeSci NYC, a 10-year, $500 million commitment to the City’s life science sector.
“Future growth will come from expanding traditional institutions and corporations, and from new start-ups and technological developments such as synthetic biology,” said Nancy J Kelley, president and CEO of Nancy J Kelley + Associates, and meeting co-organizer and steering committee member. “These industry innovators hold the promise for the development of applications across a broad range of industries such as energy, agriculture, healthcare, chemicals, materials and bioremediation.”
“Our goal is to educate and increase awareness of collaborative growth opportunities among New York City’s real estate development, design and global life science communities,” said Mitchel W. Simpler, managing partner at Jaros, Baum &Bolles. “Now is the time for the New York City real estate community to respond, by collaborating with scientists, biotech and engineering professionals to build new environments that will allow us together to reimagine the future of New York City.”
Kelley and Simpler are among the area’s life science real estate pioneers that were instrumental in developing partnerships between the life science industry and commercial real estate developers in New York City beginning over a decade ago.They are among five steering committee members of the symposium, with Jonathan L. Mechanic, chairman of the real estate department at Fried Frank; James C. McKenna, co-founder of Hunter Roberts Construction Group; and John Sabey, CEO of Sabey Corporation.
Collaborative Growth Opportunities
The Symposium highlighted collaborative growth opportunities with established life science organizations, as well as with new start-ups. Examples include Johnson & Johnson Innovation LLC, and the New York Genome Center (NYGC), which are launching a new JLABS in New York City open to biotech, pharmaceutical, medical device or consumer health companies.The collaborative is expected to launch up to 30 new companies over the next two years.
BioLabs of New York will create a 40,000 sq. ft. co-working space for growing biotech startups with top-of-the-line research equipment, business support and acceleration programming to help startup companies reach their milestones. This enterprise will spin out 35 companies in the next two years.
Start-ups launched by respected scientists from New York City academic institutions, with major financing from well-established venture capital investors, will require significant expansion space in the coming years. New start-ups include Kaliope, Quentis Therapeutics, Petra Pharma, Lodo Therapeutics and Kyra Therapeutics.
Symposium Sponsors
The symposium was sponsored by Fried Frank; Hunter Roberts Construction Group; Jaros, Baum &Bolles; Nancy J Kelley + Associates; Sabey Corporation; Elkus Manfredi; Boston Properties; CBRE; Hines; Onyx Equities; Perkins Eastman; Perkins + Will; SL Green; Related/Vornado Realty Trust; McNamara; Salvia; Jack L. Gordon Architects, and Milrose. Association partners included ACEC New York and New York Building Congress.
About the Life Sciences Real Estate Development Symposium
The Symposium, led by the Symposium Steering Committee, will be the first in a series of meetings intended to serve as the catalyst for more targeted initiatives that the New York City life science real estate community could collaboratively pursue during the projected and unprecedented decade of growth ahead. All proceeds from the symposium will be dedicated to supporting the launch of the newly created NYC Builds Bio+ Initiative to be founded in 2018. Learn more about the symposium at https://www.lifescisymposium.com/. Follow the symposium and the Initiative at:
Twitter: @NYCBuildsBio, #NYCBuildsBio, #NYCBuildsBioSymposium
Instagram: @NYCBuildsBio, #NYCBuildsBio, #NYCBuildsBioSymposium
Facebook: NYC Builds Bio+, #NYCBuildsBio, #NYCBuildsBioSymposium
LinkedIn: NYC Builds Bio+, #NYCBuildsBio, #NYCBuildsBioSymposium
