Alexandria Real Estate Equities was selected by the City of Seattle to develop an approximately 800,0000 square feet of amenity-rich, mixed-use innovation campus.
The future development project, which holds the promise of addressing some of society’s most pressing challenges, will be built on the last large, undeveloped site, totaling nearly three acres, in Seattle’s Lake Union submarket. Alexandria’s urban development plan supports its mission to enable the world’s most innovative organizations to cure disease. Reflecting the company’s holistic approach to making a meaningful and lasting impact on the communities in which it develops and operates, its community-centric vision prioritizes sustainable building practices and contributes substantial philanthropic support, including $5 million toward initiatives to address homelessness in Seattle.
“We envision our Mercer Mega Block development as a mission-critical campus that can drive the cross-pollination of life science and technology, spur world-class innovations to improve the human condition and significantly enhance the surrounding neighborhood,” said Joel Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments.
Alexandria’s Seattle asset base consists of nearly 1.5 million square feet of office/laboratory space that is home to a high-quality and diverse range of tenants, including public life science companies such as Adaptive Biotechnologies Corp., bluebird bio, and Juno Therapeutics, a Celgene company; private life science companies such as Dendreon Pharmaceuticals, Kineta, Inc. and Sana Biotechnology, Inc.; and institutional entities such as the Fred Hutchinson Cancer Research Center, the Infectious Disease Research Institute and the University of Washington. Alexandria has value-creation development opportunities aggregating nearly 850,000 RSF, which, along with the future Mercer Mega Block development, will strategically increase its Seattle asset base to more than 3 million RSF to further strengthen its ability to provide Seattle’s most groundbreaking companies with collaborative, amenity-rich environments to support their efforts to develop novel scientific and technological breakthroughs.
Alexandria has value-creation development opportunities aggregating nearly 850,000 square feet, which, along with the future Mercer Mega Block development, will strategically increase its Seattle asset base to more than 3 million square feet to further strengthen its ability to provide Seattle’s most groundbreaking companies with collaborative, amenity-rich environments to support their efforts to develop novel scientific and technological breakthroughs.
