Monday November 29, 2010
The University of Louisville Foundation and Nucleus, in conjunction with Governor Steve Beshear and Louisville Mayor Jerry Abramson, announced the hiring of the architecture firm and construction manager to initiate construction of the first research building on the old Haymarket site. The development of this property signals the next phase in fulfilling the community’s vision to emerge as the leader in life science and wellness innovation.
“We are well on our way to establishing Louisville as a national leader in the life science and wellness sector,” said Nucleus President and CEO Vickie Yates Brown.
Nucleus named architecture firm Arrasmith, Judd, Rapp, Chovan Inc., and construction company Sullivan & Cozart, Inc. to oversee the project. The first building is expected to be finished in 2012. When all phases of the Nucleus downtown research park are completed, the facility is expected to generate 8,700 skilled jobs in a key growth sector.
"Nucleus is the key link between the University of Louisville's research and the economic development it will spark in our community, state and region. This first building at the old Haymarket site is just one step toward making the University of Louisville a catalyst for cultivating companies that will take home grown research from the lab to the marketplace," said UofL President James Ramsey.
Collaboration among the University of Louisville, Mayor Abramson’s office, Governor Beshear’s office, GLI along with a commitment from Signature HealthCARE through their development of the International Center for Long Term Care and Innovation to become the building’s anchor tenant, made it possible to commence the construction phase of the project. Nucleus is finalizing the financing plan for the downtown research park leveraging assets in conjunction with potential funding sources through both the University of Louisville Foundation, and tax-increment financing, a state program that allows gradual increases in certain tax revenue from a specific area to be directed to public infrastructure projects. In this case the district includes the 210-acre development area around the Haymarket site.
“We are dedicated to creating these kinds of jobs in the Commonwealth, and we will always work to find the best possible funding solution to bring projects like the new Nucleus facility to fruition,” said Governor Steve Beshear.
Detailed renderings and computer generated drive-bys were shown at the Haymarket press conference on Monday to illustrate the size and scope of the project. In addition to Signature
HealthCARE’s International Center for Long Term Care Innovation and Center for Aging, the research park will become home to laboratories and office space for both University of Louisville students, faculty and staff, as well as private life science and wellness companies. It will become a crucial “idea incubator,” where those in life and health sciences, and wellness can develop and commercialize their ideas side-by-side.
“This project has been in the works for more than 12 years,” said Louisville Mayor Jerry Abramson. “We are now moving from the mind to the marketplace, and creating new jobs, not just moving them in from places other than Louisville.”
This project signals significant progress toward making Louisville the epicenter of life sciences innovation and entrepreneurship. Nucleus was founded in 2008
with the goal of fully integrating all assets of UofL, including life sciences, with those of the region to leverage their strengths for University academic enrichment and for community economic development.