Posted Aug 1, 2023, 3:10 PM
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FYHA
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Join Date: Oct 2007
Location: Houston - Wichita, KS
Posts: 3,213
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Generation Park / BioHub Two
https://www.houstonchronicle.com/business/real-estate/article/mccord-biomanufacturing-biohub-generation-park-hou-18265246.php
Quote:
45-acre biomanufacturing hub planned at northeast Houston site once pitched to pharma giant
Generation Park developers unveil plans for life sciences cluster
Marissa Luck,
Staff writer
Aug. 1, 2023
As Houston angles to become the next big biomedical powerhouse, Houston real estate developer McCord Development is aiming to tap into some of the region's life sciences growth with a 45-acre biomanufacturing hub northeast of downtown.
The 500,000-square-foot project dubbed BioHub Two is proposed near where San Jacinto College is planning a biomedical training program within Generation Park, a 4,300-acre master-planned commercial development not far from Lake Houston, about 20 miles north of downtown Houston. BioHub Two is planned not far from where a manmade surfing lagoon, HTX Surf, is opening within Generation Park in early 2025.
McCord Development has been quietly laying the groundwork to develop a life-sciences cluster at its commercial district for the past few years. Two years ago, Generation Park was on the short list of potential sites slated for a $550 million biomanufacturing plant for pharmaceutical company Amgen. Instead Amgen picked North Carolina's Research Triangle, turning down about $110 million incentives offered by Texas, according to media reports.
But the process of marketing a 45-acre site to Amgen demonstrated that Generation Park could benefit a future biomedical manufacturing company, said Shawn Cloonan, general counsel for McCord Development and former chief operating officer at Texas Medical Center. The land is near Beltway 8 and the airport, which could appeal to pharma big wigs flying in from Boston or San Francisco.
McCord is marketing the 45-acre site to other life sciences companies. The land could fit about 500,000 square feet of biomanufacturing, lab and office space along a 5-acre greenspace.
McCord is nearing completion on almost $30 million of work to convert forested land into developable sites with access to roads, utilities, sewage lines and a manmade lake as a regional detention facility doubling as a recreational site.
But construction of buildings at the site won’t start until McCord secures a deal, said Cloonan, adding that McCord has signed non-disclosure agreements with some prospective tenants. The site could be sold or leased to one or multiple companies, he said. McCord could have buildings ready for a tenant within 18 to 24 months after a deal is signed, he said.
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