RESEARCH TRIANGLE PARK
Longfellow Real Estate Partners, a life sciences-focused real estate company that has been active in the Triangle for the past decade, said Wednesday it will develop more than 200,000 square feet of labs and offices in the ambitious Research Triangle Park Hub RTP project. .
Boston-based Longfellow has built several projects in the Triangle, including the Innovation District buildings in downtown Durham, which will soon house Google’s new office in Durham, and several lab buildings in and around Research Triangle. Park.
The 220,000 square foot commitment to Hub RTP will give Longfellow an important part of one of the largest ongoing construction projects in the Triangle.
“Longfellow has invested in Research Triangle Park for years, helping to develop and create world-class laboratories and offices for some of the best companies in the world,” said Jessica Brock, Longfellow partner, in a statement. “Having a historic development just off I-40, in the center of RTP, only strengthens the partnership with our community, our tenants and our neighbors. “
Longfellow’s contribution to the RTP Hub will be built on a 1.5 acre parcel of the 100 acre project.
The Hub RTP project – originally known as the Park Center – has been in the works since 2015, when County Durham pledged money for the project in hopes it would reinvigorate Research Triangle Park.
The property is near the intersection of NC 54 and Davis Drive, and the two million square foot office tower complex would be visible from nearby Interstate 40.
Construction of the RTP Hub began last year. The project is seen as a necessary attempt to bring an urban-type city center to the center of RTP, which has been an economic catalyst for the region for more than half a century.
But since the world-famous business park was built, as a collection of hidden corporate offices, trends have shifted towards denser construction that includes apartments, restaurants and retail.
In addition to the offices, Hub RTP includes the already constructed Frontier coworking campus, home to over 100 startups, and the Boxyard, a newly opened food and retail hub.
“Our job is to create an environment that will attract business to North Carolina,” Scott Levitan, CEO of the Research Triangle Foundation, told The News & Observer in the past. “We’ve heard loud and clear that businesses are focusing on a mixed-use downtown environment that is active and will help them recruit talent. “
RTP, and much of the rest of the Triangle, has seen a significant boost in the number of businesses setting up shop in the region over the past 12 months.
Since the start of COVID last March, $ 4.5 billion in investments have been announced within RTP, Levitan said in an interview earlier this year. This represents approximately 5,000 planned jobs.
The most notable victory for RTP was Apple, which announced in April that it would place an east coast campus and 3,000 jobs in the park after receiving state incentives worth $ 845.8 millions of dollars.
But the life sciences industry, in which Longfellow operates, has also steadily created jobs in and around RTP. Biogen, Fujifilm Diosynth, ApiJect and several other biotech companies have announced expansions in the region over the past 12 months.
Longfellow is the second developer to commit to RTP Hub integration. The first and most important came from developer Dallas KDC.
KDC, which built the Credit Suisse offices at RTP, plans to contribute up to one million square feet of office space to the RTP Hub in the coming years, The N&O previously reported.
This story was produced with the financial support of a coalition of partners led by Innovate Raleigh as part of an independent journalism scholarship program. The N&O retains full editorial control of the work. Learn more; go to bit.ly/newsinnover.