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Manhattan's Biotech Bid

Posted by: Chris Steins
Thanks to: Peter Slatin
22 December 2005 - 8:00am

Can a California REIT find happiness (i.e., tenants) for a big biotech building on the East River?

"Maybe it’s the fact that the East River Science Park will be New York City’s largest biotech campus. Or it could be that the $700-million project is being built on spec. Whatever the reason, its 872,000 square feet seems like an awful lot of space to fill.

Then again, if the planned science park fulfills the city’s goal of jump-starting a true commercial bioscience industry, the 3.7-acre campus, in the Kips Bay neighborhood between First Avenue and the FDR Drive, could start to seem very small to its tenants."

Full Story: http://www.theslatinreport.com/story.jsp?StoryName=1220ersb.txt
Source: The Slatin Report, December 22, 2005
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These practices are also inequitable since they force non-drivers to subsidize parking costs, reduce travel options for non-drivers, and reduce housing affordability.
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