Gateway's Next Building To Break Ground In April
The next phase of Gateway Park is expected to break ground in April as Worcester Polytechnic Institute officially named Holyoke firm O'Connell Development Group as the designated developer for the biotech park's newest building.
O'Connell will lease land from WPI then finance and construct the $30 million, 92,000-square-foot four-story building. The project is expected to support 120 jobs during construction and 140 permanent jobs when fully occupied.
About half of the new building, which will be located at 50 Prescott St., is already leased.
Committed tenants include the WPI Biomanufacturing Education and Training Center, the school's fire protection engineering department and the graduate division of WPI's School of Business.
The Massachusetts Biomedical Initiatives, which already occupies space in the first Gateway Park building, will also lease space in the new building, as will Blue Sky Biotech, which also already has space in the first Gateway Park building.
WPI filed plans for the newest building with the city in November but officially announced tenants and a groundbreaking timeframe Tuesday.
Gateway's first building, the WPI Life Sciences and Bioengineering Center, is a 125,000-square-foot building that opened in 2007 along with an adjacent 660-space parking garage. WPI has already invested $66 million into the Gateway Park project.
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