Texas Medical Center in Houston has announced the launch of a 37-acre life science campus designed to unite the top minds in medicine and commercialization: TMC 3.
According to TMC, a medical city fosters collaboration between hospitals, universities, and business, construction has begun on Phase One, which is backed by $1.8 billion in financing from teams in life science investment and property development.
The TMC 3 master plan, which encompasses approximately 6 million square feet of anticipated development, was designed by Boston-based Elkus Manfredi Architects.
The infrastructure will support a mix of healthcare, life science, and business users, TMC said.
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TMC also said the capital investments will foster an expanding network of business partners, from entrepreneurial ventures to Fortune 100 companies.
"With more than 100,000 employees, vast intellectual capital and a long-standing patient focus, our capacity for innovation is second to none," William McKeon, President & CEO of Texas Medical Center, said. "The collective power of TMC's hospitals and academic institutions has accelerated the pace of scientific discovery for years. TMC 3 extends our collaboration to Fortune 100 life sciences companies and entrepreneurial ventures. The impact on patients worldwide has the potential to be nothing short of life-changing."
Phase One of the TMC 3 campus includes 950,000 square feet dedicated to translational research, as well as a 700,000 square foot facility developed by Boston-based Beacon Capital Partners and their strategic partner, Braidwell, a life science-focused investment firm.
The 350,000 square foot first phase is scheduled to break ground in the fourth quarter.
According to TMC, the initial phase will also include a more than 500-room hotel with over 65,000 square feet of conference space, a 350-unit residential tower, over 2,000 parking spaces, and 18.7 acres of public space including six TMC 3 parks.
"It is an unprecedented time for life sciences and innovation in the U.S. and Houston has all the factors that are required for explosive growth in this space," Steve Purpura, President of Life Science at Beacon Capital Partners, said. "TMC has done the work necessary to seed innovation, build relationships with the world's leading life sciences companies and create the infrastructure needed for long-term success."
According to TMC, a key objective of the plan was to ensure an environment where innovators from healthcare, science, academia, government, and industry could collaborate on new medicines, medical devices, diagnostic, and digital health platforms, and treatment solutions. The result is also intended to attract high quality talent to the energy and vitality of an expansive medical city offering multiple opportunities for mentorship and career growth, TMC said.
The landscape design was done by Mikyoung Kim, and TMC 3 's defining feature is the Helix Gardens, green space that weaves through the heart of the campus and is open to the public. The Helix Gardens are a chain of five public parks, each approximately the size of a football field, and they will offer lawns, tree canopies, walking paths, water features, cafes, and a central garden for outdoor receptions, concerts, graduations, and other large-scale events.
Expanding on the more than 60 institutions and 100,000 employees already onsite at Texas Medical Center, the largest medical center in the world,
TMC 3 is expected to generate a significant economic impact during both construction and operation phases, expanding on the more than 60 institutions and 100,000 employees already onsite at Texas Medical Center, the largest medical center in the world.
According to TMC, it is estimated that the State of Texas will benefit from an ongoing impact of $5.409 billion each year. More than 23,000 permanent new Harris County jobs will drive that gain, representing virtually all industries, pay scales, tax levels, and educational backgrounds. TMC said 19,000 construction jobs will also be created as a result of the project.
"Houston is already fortunate to have such a strong healthcare and higher education ecosystem. The TMC 3 project stands to be the cornerstone of our regional life sciences strategy. It will create new jobs, advance innovative medical technologies and healthcare solutions," Houston Mayor Sylvester Turner said. "In addition, the TMC 3 helix parks will create a place for the community to gather and continues to expand our amazing park system. Houston will be among the most competitive cities in the country for life sciences businesses."