The Texas Medical Center in Houston has announced the opening of a 37-acre life science campus designed to bring together the leading minds in medicine and commercialization: TMC 3.
According to TMC, a medical city promotes collaboration between hospitals, universities and companies. Construction of the first phase has begun with $ 1.8 billion in funding from life science investment and real estate development teams.
The TMC 3 master plan, which includes approximately 6 million square feet of projected development, was designed by Elkus Manfredi Architects of Boston.
The infrastructure will support a mix of health, life science and business users, TMC said.
TMC also said the capital investments will fuel a growing network of business partners, from entrepreneurial ventures to Fortune 100 companies.
“With more than 100,000 employees, tremendous intellectual capital, and a longstanding patient focus, our ability to innovate is unmatched,” said William McKeon, President and CEO of Texas Medical Center. “The collective power of TMC’s hospitals and academic institutions has accelerated the pace of scientific discovery for years. TMC 3 expands our collaboration to Fortune 100 life science companies and entrepreneurial companies. Change.”
Phase One of the TMC 3 campus includes 950,000 square feet of translational research and a 700,000 square foot facility developed by Boston-based Beacon Capital Partners and its strategic partner Braidwell, a life sciences-focused investment firm.
The first phase of 350,000 square meters is scheduled to break the ground in the fourth quarter.
According to TMC, the initial phase also includes a hotel with more than 500 rooms and over 65,000 square meters of conference space, a residential tower with 350 residential units, over 2,000 parking spaces and 18 hectares of public space, including six TMC 3 parks.
“It is an unprecedented time for life sciences and innovation in the US, and Houston has all the ingredients it needs to grow explosively in this space,” said Steve Purpura, president of life science at Beacon Capital Partners. “TMC has done the necessary work to drive innovation, build relationships with the world’s leading life science companies, and create the infrastructure necessary for long-term success.”
According to TMC, a primary goal of the plan was to create an environment where innovators from healthcare, academia, academia, government and industry can collaborate on new drugs, medical devices, diagnostic and digital health platforms and treatment solutions. The result is also expected to attract highly skilled talent for the energy and vitality of an expansive medical city that offers numerous opportunities for mentoring and career growth, TMC said.
The landscape design was created by Mikyoung Kim, and TMC 3’s defining feature is the Helix Gardens, a green space that winds through the heart of the campus and is open to the public. The Helix Gardens are a chain of five public parks, each roughly the size of a soccer field, with lawns, tree tops, walking paths, water features, cafes and a central garden for receptions, concerts, graduation ceremonies and a central garden for other major events.
Based on the more than 60 facilities and 100,000 employees already on site at the Texas Medical Center, the largest medical center in the world,
TMC 3 is expected to have a significant economic impact during both construction and operations and the more than 60 institutions and 100,000 employees already on-site at the Texas Medical Center, the largest medical center in the world, is expanded.
According to TMC, the state of Texas will benefit from an ongoing impact of $ 5.409 billion each year. This growth will be fueled by more than 23,000 new permanent jobs in Harris County, spanning virtually all industries, wage levels, tax levels, and educational backgrounds. TMC said the project will also create 19,000 construction jobs.
“Houston is already fortunate to have such a strong healthcare and academic ecosystem. The TMC 3 project is the cornerstone of our regional life sciences strategy. It will create new jobs, advance innovative medical technologies and healthcare solutions, ”said Houston Mayor Sylvester Turner said. “Additionally, TMC 3-Helix Parks will create a community space for the community to gather and further expand our amazing parking system. Houston will be among the most competitive cities in the country for life science businesses.”
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