Fitzsimons Redevelopment Authority Announces Second Phase of Strategic Refocus With $8 Million Expansion to Bioscience Park Center with 37,000-Square-Foot Accelerator

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 new accelerator space will be leased to existing tenants graduating from the incubator and other companies in the modest growth stage.

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Aurora, Colorado (PRWEB) December 12, 2011

In furtherance of its renewed commitment to support the growth of early-stage Colorado bioscience companies, especially those developing technologies from Colorado's research institutions, Fitzsimons Redevelopment Authority (FRA) is expanding its Bioscience Park Center building (BPC) with an $8 million, 37,000-square-foot accelerator facility, increasing the BPC in excess of 50 percent. The announcement is made by Denise Brown, FRA Interim Executive Director, who says, "The new accelerator space will be leased to companies in the modest growth stage. We have a number of companies in the BPC incubator ready to make this advancement in addition to interest from other companies, both in-state and out-of-state, as well."

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, as recently reported in the Aurora Sentinel, http://www.aurorasentinel.com/email_push/news/article_95c4538e-1792-11e1-a67e-001cc4c03286.html

According to Brown, expansion of the BPC structure with the accelerator 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

Last month, as the first phase of its strategic refocus, FRA announced the restructure of its board to include bioscience industry leadership. Those additions include Donald M. Elliman, Jr., Executive Director of the Charles C. Gates Center for Regenerative Medicine and Stem Cell Biology and current Director and former Chair of the Children's Hospital Colorado Board of Directors; William Freytag, PhD, former Chairman and CEO of Myogen, Inc.; James C. T. Linfield, Partner-in-Charge of the Colorado office Cooley LLP; and David Perez, President and Chief Executive Officer of CaridianBCT, becoming TerumoBCT.

Just last week, the Aurora City Council announced three appointments to the FRA Board, including newly elected Mayor Steve Hogan and Councilwomen Melissa Miller and Marsha Berzins.

According to Elliman, quoted recently in the Denver Post: "The land north of Montview on the Fitzsimons property represents one of the great economic-development opportunities in Colorado, maybe the greatest in the state." Visit: http://www.denverpost.com/search/ci_18108184

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." Adding, "What we’re not seeing is relocating to the site by more mature companies...the board is doubling down and looking into what’s preventing it.” Visit http://www.bizjournals.com/denver/news/2011/11/15/fitzsimons-authority-names-4-board.html

"As the Fitzsimons site has matured, it's become clear to the FRA board that it needed to do more to support the growth of early-stage Colorado bioscience companies, especially those developing technologies from Colorado's research institutions, with an emphasis on those technologies developed at the Anschutz Medical Campus. Accordingly, the FRA is now addressing the critical need to provide space for maturing bioscience companies with its accelerator expansion, as well as bringing bioscience-focused leadership to the board process in building new corporate partnerships and leveraging the strength of the Anschutz Medical Campus and the FRA's real estate development partner, the Forest City Science + Technology Group," Brown explains.

About the Colorado Science + Technology Park

The Colorado Science + Technology Park is the center of The Fitzsimons Life Science District, one of the nation’s largest bioscience developments and the heart of Colorado's bioscience community.

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. In this role, the FRA is dedicated to providing life science companies: an environment where they can thrive; success-enhancing resources like the District’s incubator facilities; and services that help form connections between private industry and the University of Colorado. Aurora’s Fitzsimons Life Science District is becoming what its founders envisioned: a functioning community that directly supports the health and well-being of life science companies. For more information, visit: http://www.fitzscience.com

Contacts:

Vicki Jenings, CPM, Director of Business Relations, Fitzsimons Redevelopment Authority -http://www.fitzscience.com - 720-859-4108

Maggie Chamberlin Holben, APR, Principal - Absolutely Public Relations - http://www.absolutelypr.com - 303-984-9801 and 303-669-3558 (cell)

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