The University of Texas at Austin (UT Austin) will build a new 10,000-square-foot lab facility at the Parmer Austin site on Center Lake Drive in North Austin, according to a Wednesday press release issued by UT Austin and project partner Karlin Real Estate.
AUSTIN (KXAN) -- The University of Texas at Austin (UT Austin) will build a new 10,000-square-foot lab facility at the Parmer Austin site on Center Lake Drive in North Austin, according to a Wednesday press release issued by UT Austin and project partner Karlin Real Estate.
The facility will house UT Austin's research commercialization team, Discovery to Impact, which will manage the facility. But the most exciting occupants will be life science startups.
“This is a great day for the University and Discovery to Impact,” said UT Austin President Jay Hartzell in the release. “Austin is poised to become the next major hub for life sciences, and I am thrilled that UT and Karlin can be at the forefront of this movement and make an enormous impact on the city and the world.”
Project developer Karlin previously built a life sciences "superhub" in North Carolina's Research Triangle Park in 2020. Locally, the Parmer Austin site is also home to "over 2 million square feet of innovation," including 3M, Apple and Qualcomm facilities.
“Karlin is building for a better tomorrow. We are at the forefront of innovation science real estate that pushes the boundaries of what’s possible,” said Matt Schwab, Karlin Real Estate co-founder, in the release.
Project leadership claims the new facility will "accelerate innovation through a concentration of businesses, research institutions, incubators and accelerators," according to the release. It also calls the local life science sector "an emerging powerhouse."
Austin Chamber of Commerce's Opportunity Austin initiative has put its weight behind the project as well.
“Opportunity Austin is targeting the high-priority life sciences industry by tailoring recruitment strategies and effectively utilizing new federal investments and incentives,” said Opportunity Austin chairman Gary Farmer in the release. “Historically, our ability to sustain a thriving life sciences cluster has been impacted by the availability and affordability of leasable lab space for innovators. Through partnerships with industry innovators like UT and Karlin, we will transform this region into a thriving, globally competitive life sciences superhub.”
