Near Top Medical Institutions
The new science park will capitalize on its proximity to the citys 25 medical research institutions and over 70 hospitals, including Rockefeller University, Beth Israel Medical Center, Memorial Sloan-Kettering Cancer Center, Mount Sinai Hospital and School of Medicine, the Aaron Diamond AIDS Research Center, Weill-Cornell University School of Medicine, and New York University (NYU) Medical Center. The focus of the new center will be translational sciencebringing products to patients.
The idea behind the park is to grow a bioscience cluster within the larger NYC wealth of biomedical institutions that are spread out over the east side of Manhattan. The new planned center will house not only biotech companies and start-ups, but also pharmaceutical companies, venture capitalist firms, academic research, and medical device and nanotech companies. Added to the mix will be a conference center and convergence caf as places for the exchange of ideas, and atria and walkways by the river.
We see the East River Science Park as our flagship project, and we believe it will spur the commercial growth of New York Citys bioscience industry, explains Monique Salazar, assistant vp of the NYC Economic Development Corporation (EDC).
The non-profit agency is NYCs primary vehicle for promoting economic growth in the citys five boroughs.
Despite our tremendous scientific assets, New York City has never captured its fair share of the commercial bioscience industry, adds Andrew Alper, president of the EDC. The development of the East River Science Park will help us reverse this trend by offering companies room to expand right here in the city.
Developing a commercial biotech cluster will allow our institutions to forge stronger ties with he bioscience industry, help our academic institutions attract top talent, and create many new, high-paying jobs.
The EDCs bioscience group has already met with over 500 companies in the U.S. and overseas to encourage them to locate in or expand to NYC. The citys proximity to the nations economic markets, the fact that its biomedical institutions train over 15% of the nations physicians, and its five top-ranked biology Ph.D. programs, are pluses.
The East River Science Park project will be built by Alexandria Real Estate Equities, to which the city will be leasing the site. First, Alexandria will build two labs and office towers of 542,000 ft2, and the second phase will be a 330,00-ft2 lab and office building located north of the construction site.