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Fitzsimons Redevelopment Authority Announces $8 Million Expansion
The Fitzsimons Redevelopment Authority (FRA) is expanding its Bioscience Park Center (BPC) by roughly 50% with an $8 million, 37,000-square-foot accelerator structure.
The FRA Board of Directors has been working with FRA staff, FRA's real estate development partner Forest City Science + Technology Group, consultants and lenders for the past several months to finalize this expansion. Based on the team's recommendation, the three-story accelerator will be built to the west of the current building with a new parking lot located to the north of BPC. Ground broke in October and construction has been progressing since, with completion expected by June.
According to Brown, expansion of the BPC structure has these advantages:
* FRA's BPC site is adjacent to the University research facilities.
* Tenants will have easy access to the amenities already in place at BCP, thereby eliminating the need to replicate conference rooms and other amenities in the expansion.
* The expansion is capable of housing highly technical life science research and development activities.
* The expansion connecting to an existing building creates cost savings for tenants as compared to stand-alone new construction
Further, as Brown said in Denver Business Journal news coverage last month, the expansion "should handle the expected 10 to 12 CU spinoffs coming out of the university each year."
About Fitzsimons Redevelopment Authority
The FRA directs the commercial developments in the Fitzsimons Life Science District, along with its partner, Forest City Science + Technology Group. Visit: http://www.fitzscience.com.
Vicki Jenings, CPM, Director of Business Relations, Fitzsimons Redevelopment Authority -http://www.fitzscience.com - 720-859-4108 - email@example.com
Maggie Chamberlin Holben, APR, Principal - Absolutely Public Relations - http://www.absolutelypr.com - 303-984-9801 and 303-669-3558 (cell), firstname.lastname@example.org