Texas Medical Center (TMC) has launched TMC3, a new 37-acre life science campus, in Houston, Texas, the US.
The company commenced construction on the Phase One of the new campus with $1.8bn funding secured from life science investment and property development teams.
Designed by Boston-based Elkus Manfredi Architects, the TMC3 master plan includes approximately 6 million ft2 of development.
The development will include 250,000ft2 TMC3 collaborative building, 700,000ft2 industry research building, 350-unit residential building, and a mixed-use building with retail and parking.
It will also include 521-room hotel with 65,000ft2 conference centre, six future industry and institutional research buildings, 7-acres of public space including six TMC3 Parks.
The Phase One includes 950,000ft2 space for translational research, anchored by a 700,000ft2 facility developed by Beacon Capital Partners as well as their strategic partner, Braidwell.
Construction work on the 350,000ft2 first phase is scheduled to commence in the fourth quarter of this year.
Additionally, the first phase will include a 521-room hotel, more than 2,000 parking spaces, 18.7 acres of public space including six TMC3 Parks and a 350-unit residential tower.
The new campus collaborators include Elkus Manfredi Architects, Majestic Realty, Beacon Capital Partners, Mikyoung Kim, Transwestern Development, University of Texas Health Science Center at Houston, Braidwell, University of Texas M.D. Anderson Cancer Center and Texas A&M University Health Science Center.
Braidwell co-founder and chief investment officer Alex Karnal said: “Never before in history has there been such an opportunity to bring together allocators of capital, great scientists and scientific institutions to accelerate our collective fight against disease.
“There is an unprecedented opportunity to harness the ever-increasing pace of scientific discovery in medicine, biology, computing, and other disciplines for the benefit of human health. TMC3 is a model of how to empower a collective ecosystem of expertise at tremendous scale.”
Rendering of the new 37-acre life science campus in Texas. Credit: Texas Medical Center.