Georgia Tech is seeking $100,000 from Atlanta to conduct a feasibility study for a project that would transform the 11-acre Technology Enterprise Park into a $500 million mixed-use industry focused hub. The study will help determine, among other things, project costs, types of mixed-use activities and how the development might be integrated into the surrounding area. The University Financing Foundation (TUFF), Invest Atlanta, and the Atlanta Housing Authority served as partners to Georgia Tech in the grant proposal. The proposed health and biosciences innovation district would host university spinoffs from Emory University, Georgia Tech, Georgia State University, Clark Atlanta, and Morehouse School of Medicine, and provide land for Technology Enterprise Park tenants (CardioMems, Kemira, and CryoLife) to expand without leaving the area. The district would also attract research and innovation enterprises, such as the Global Center for Medical Innovation and the Georgia Tech Research Institute.
The project’s backers point to the success of Technology Square — an eight-block, mixed-used redevelopment on Fifth and Spring streets that transformed a seedy Midtown strip into a hive of tech incubators, innovation centers, startups and venture capital firms that is a national model for innovation district development. That commercial activity has set off a spurt of apartment and retail development in the area.
http://www.bizjournals.com/atlanta/blog/atlantech/2015/09/georgia-tech-moves-forward-with-500.html