Joint-venture developer signs on for Michigan State’s new medical building
Michigan State University (MSU) has signed a lease with Health Innovation Partners, paving the way for the group to build a 211,000 sq foot medical innovation building aimed at driving innovation through public-private partnerships.
The new building will be developed on land owned by MSU, adjacent to its newly opened state-of-the-art research centre. The team behind the project will achieve their goal of collaboration by encouraging relationships across tenants, and as a result, bring new discoveries to market. Anticipated outcomes of the partnership include research, testing and commercialisation of new therapies and devices.
“The medical innovation building will create an ecosystem to enable synergies between academic medicine, health care delivery systems and industry partners that will join us in the transformation of health,” Norman J. Beauchamp Jr., Associate Provost and Assistant Vice President for Health Affairs at MSU and Dean of the MSU College of Human Medicine, said in a statement.
“We are excited Health Innovation Partners shares our vision for the advancement of health care. We are a community that has the ability to bring health and healing in a way that is so needed by our state and nation.”
The lease comes two years after the university opened the doors of the Grand Rapids Research Centre, which will be located next door to the planned medical centre.
“It brings jobs, it brings creativity, it brings, really, new careers and new companies to our city,” Mike VanGessel, president and CEO of Rockford Construction, told M Live.
VanGessel said the building is about 75 percent pre-leased but declined to identify the tenants, saying more information will be provided closer to the groundbreaking. He said the building could range between six to eight stories tall and take two years to build.
A third building is also planned for the site, with construction slated to start in the next few years.
“The addition of the MSU Innovation Centre to the Medical Mile will lead to more groundbreaking health care treatments and new product development, thus spurring further economic development and investment in the region,” said Birgit Klohs, President and Chief Executive Officer of The Right Place.
“This will continue to grow and solidify the region’s position in this critical sector. The Right Place is excited to collaborate with MSU to further grow our West Michigan economy.”