BRONX, N.Y., Dec. 20, 2021 /PRNewswire-PRWeb/ -- Biotech
companies' appetite for research institutions' groundbreaking
discoveries is driving demand for new life-science facilities, said
Joseph Simone of Simone Development
Companies.
"New York City's university
research hospitals are gold mines of innovation and emerging
technologies," said Joe Simone.
"These research institutions are transferring their technologies to
biotech start-ups, which are spending billions of dollars to bring
research-driven innovations to market. Therefore, the need for
life-science web labs is exploding."
The New York City Economic Development Corporation (NYCEDC)
announced a plan in June to double a $500
million investment in life sciences to $1 billion as part of LifeSci NYC, a commitment
to create jobs and establish New York
City as the global leader in life sciences.
"In November New York City approved the New York Blood Center's
new tower, which includes 600,000 square feet of life sciences lab
space that will be rented to research and biotech companies. This
is just one of several examples of new life-sciences construction
proposed throughout the New York
metro area," said Joe Simone.
New York City's investments in
biotech include a $13 million grant
to Montefiore Medical Center and its medical school, the Albert
Einstein College of Medicine to launch the Einstein-Montefiore
Biotechnology Accelerated Research Center. The center will create a
biomanufacturing facility focused on cell, gene, and antibody
therapy production. The Bronx-based center will be open to early-stage
and established companies.
Across the street from the proposed biotech facility, Simone
Development Companies' Hutchinson Metro Center includes an
ambulatory surgical center for Montefiore. At the south end of the
Hutchinson Metro Center, Joseph
Simone has proposed building a life-sciences park that
includes wet laboratories for medical research. "The life sciences
are the Industrial Revolution of the 21st-century, and Simone
Development Companies is ready to build the facilities needed for
the new generation of biotech start-ups."
ABOUT SIMONE DEVELOPMENT COMPANIES
Simone Development Companies is a fully integrated private real
estate investment and development company that acquires and
develops healthcare, mixed-use, commercial, industrial, retail and
residential properties. Headquartered at the Hutchinson Metro
Center, it boasts a portfolio of over seven million square feet
throughout the Bronx, Manhattan, Queens, Long
Island, Westchester,
Orange and Fairfield Counties and New Jersey. With services spanning
acquisition, development, construction, finance, asset management,
accounting, leasing and property management, Simone Development
Companies is set apart by its creatively oriented management team,
long-term asset ownership and its pursuit of visionary
development.
Media Contact
Dean Bender, Thompson &
Bender, +1 09147621900, dean@thompson-bender.com
SOURCE Simone Development Companies