NEW: URI Contemplating Technology Park
Tuesday, April 12, 2011
The University of Rhode Island announced today that it is seriously exploring the viability of developing a research and technology park on the University’s north campus. URI officials discussed the idea of building a technology park several years ago, but the project was postponed in light of the recession.
University President David M. Dooley explained how a technology park would be both appropriate and beneficial from an institutional perspective.
Building on a research agenda
“Continuing to enhance the University's research agenda, as well as expanding our economic development partnerships, makes such a park a focus for us. URI's grants and research portfolio exceeded $105 million last year…at the same time, combining our faculty, staff, and student capabilities with private business projects to enhance the quality of life gets at the core of our mission.”
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe University has hired the Maryland-based commercial real estate firm Scheer Partners as a consultant, and the group’s founder and president Robert Scheer is personally leading the consulting team—which has already begun conducting financial analysis and market research. Scheer partners has also reached out to Gaudreau & Associates, Inc. and requested they develop plans for the potential park, which would initially include a 50,000-square-foot building and in total encompass 200,000-300,000 square feet of space on the north part of the URI campus.
University officials believe that the new park will be especially attractive as a cost effective alternative to real estate in Boston or New York, where laboratory rental rates often exceed $60 per square foot. Furthermore, companies residing in the park will have access to the numerous other biotech, healthcare and pharmaceutical firms already present in the state—such as CVS, Amgen, Lifespan Healthcare, and Rite Aid.
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