FOR IMMEDIATE RELEASE
CONTACT: Eric Myers, Summit Development Group, 503.896.8083
Dianne Danowski Smith, @DiannePublixPR, 503.201.7019
NEXT: NEW BIOTECH CAMPUS COMING TO INNOVATION QUADRANT
Following the 2018 announcement of the Eastside Innovation Hub at 808 S.E. Alder in Portland, the ‘NIR Center’ is ready to break ground in the heart of Portland’s IQ at Southeast 10th and Stark, featuring research, BioSafety Level 2 laboratory space and office/collaboration elements.
Portland, Ore. – Metro Portland and Vancouver’s Summit Development Group purchased a majority of a southeast Portland block in the Portland IQ bordered between 9th and 10th, and Stark and Washington, and will raise two, connected 10-story buildings. The emerging, 347,000-gross-square-foot NIR complex will house early- and mid-stage bioscience and technology companies, and will be enabled for efficient research, lab space, offices and street-level supportive retail.
The ‘New Industrial Revolution’ campus (NIR) follows up from Summit Development’s Eastside Innovation Hub at 808 S.E. Alder, another bioscience laboratory and collaborative space housing wet labs, analytical and office space, and a spec buildout plan in 40,000 square feet of four-level, completely rehabilitated space.
Two Letters of Intent with life science tenants have been secured for NIR.
The NIR center – two adjacent buildings joined in an “H” formation – aims to be the 2nd building in the Central Eastside customized specifically to the needs of emerging and growing bioscience firms, as the Eastside Innovation Hub building is the first. And, also as with the Eastside Innovation Hub, NIR is being fully funded by private funding.
“We consider this project, the NIR Center, to be at the heart of the Innovations Quadrant’s intent,” said Eric Myers, Summit’s Chief Development Officer. “The project repurposes an industrial-zoned site for innovative research and development. Creating these mechanically robust spaces are a key element of the infrastructure necessary for life science companies to grow and thrive in the central city.”
Specific features of NIR include:
· Complete HEPA filtration systems
· Modular layout tailormade for research and development
· Structure and permitting allowing BioSafety Level 2 laboratory space
· Segregating lab plumbing systems
· Mechanical systems allowing for independent HVAC
· Back-up power generation
· Underground vehicle and extensive bike parking with locker rooms
· Development will grow with users, with Phase I to ready for move in in Summer, 2021.
“We’ve worked with Summit Development over the past two years to find a solution for siting and keeping growing bioscience and lab-based companies based here in Oregon,” said Jennifer Fox, Ph.D., executive director at OTRADI and the Oregon Bioscience Incubator (OBI). “Currently there is no available lab space in the Portland metro area, which absolutely limits the ability of startup companies to graduate from our incubator and scale into 20- to 100+-employee companies in Oregon. With the new lab-based projects being developed by Summit, we see these needed initiatives for scaling and keeping our bio companies and incubator graduates here in Oregon. The OBI is actively partnering with Summit to bring these new tech buildings to market with lab companies’ priorities and needs taking center stage in the planning and building process. These new lab buildings will the bio epicenter in the Portland Innovation Quadrant (Portland IQ).”
“This will be another bio hub to spur hundreds of jobs and more research and development,” said Myers. Myers notes that within a 5-mile radius, more than 34,300 businesses employ as many as 373,600 employees, per 2018 per capita research in what’s known as the Goat Blocks.
Summit Development’s President and COO, Eric Saunders, adds Phase 1 will comprise approximately 163,000 square feet of finished space. He said, “We are creating a very innovative building using cross-laminated timber supported by steel core. The common courtyard will create a unique neighborhood attraction, featuring several small local restaurants, coffee shops and service companies that will support the building’s tenants,” Saunders added. “There continues to be strong demand for this kind of customizable, entrepreneurial and cost-conscious space. We’re excited about this project because the advanced level of structural and mechanical systems will be unique and a great asset to the Central Eastside. We have started pre-leasing and look forward to working with innovators in this space.”
“We could not have made this project possible without the work done by the Portland IQ and the Central Eastside industrial Council, specifically the newly minted CEIC Enhanced Services District,” adds Myers. “These organizations are critical to the infrastructure necessary for the economic development of the district and we’re happy to be in this district.”
Said Executive Director of the CEIC, Kate Merrill, “The Central Eastside is growing as a hub for innovation in technology and manufacturing. Through this major investment in the Central Eastside, Summit is making a major contribution to this innovation ecosystem. We are glad to have a great community partner in Summit and are excited by the economic prosperity and talent that this project will bring to the district.”
Leasing is being managed by Real Estate Investment Group. NIR’s build team includes R&H Construction and Hennebery Eddy Architects, Inc. Summit’s Myers added, “This new complex is perfect for the live/work ethos because of its close-in access, active area development and improvements, bike- and pedestrian-friendly infrastructure, and the expansion of community services now located in the vicinity. This is a high quality, work-life option.”
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Summit Development is a Full Cycle Development company innovating to acquire, develop, build and manage commercial development projects and derive solutions for all asset classes. Summit has completed $595 million in development and currently has $192 million under development. As a property development company with decades of experience, Summit takes great pride in the positive relationships we’ve built with our partners. Summit believes trust is created between owners, builders, and community partners only through integrity and hard work. Whether building a mixed-use commercial property development or residential neighborhood, Summit brings vision to the drawing table and a standard of excellence to exceed expectations. Summit Development Group principals are Eric Saunders, President and Chief Operating Officer; Eric Myers, Chief Development Officer; and Tim Hildebrandt, Chief Financial Officer.
Perspective Rendering - Looking West Down SE Stark St -Photo Courtesy of Hennebery Eddy Architects