Atlanta, GA | March 29, 2022
Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers and investors, and its residential subsidiary, High Street Residential (HSR), and Georgia Advanced Technology Ventures (GATV), a cooperative organization of the Georgia Institute of Technology, announces that they have closed on ground leases and are ready to begin construction on the first phase of redevelopment at Science Square, formerly known as Technology Enterprise Park, a mixed-use innovation community offering premier commercial lab/R&D and residential real estate.
“With the ground-up development of Science Square, we will have the ability to provide the infrastructure needed to capture the increasing demand for lab space generated from the growth of research and commercialization within the life science industry,” said Kelly Fox, Executive Vice President of Administration and Finance at Georgia Tech. “This catalytic development will solidify Atlanta’s position as one of the top emerging life sciences markets nationally, bringing with it new jobs, economic benefits, and much-needed housing and amenities to Georgia Tech’s neighboring communities.”
The first phase of the development at Science Square will include TCC’s Science Square Labs, a speculative 364,740-square-foot Class A lab/office tower, and HSR’s 280-unit residential building, the firm’s first residential development in Atlanta, which will include shared parking and ground-floor retail space.
Designed by Perkins + Will, Science Square Labs is a purpose-built 13-story tower that will offer up to 35,558-square-foot floor plates designed for state-of-the-art lab and clean-room build out. The facility will also feature ground-floor retail space and an impressive amenity collection, including a fitness center, an all-hands conference space, and an indoor/outdoor tenant lounge with a catering kitchen, which can be reserved for special events and opens up to an outdoor programmed amenity deck with skyline views. Other features of the lab building include tenant spaces with private outdoor space, indoor/outdoor collaboration areas, connection to Georgia Tech’s pedestrian/bike bridge over the rail line, covered parking, and chemical storage space. TCC is seeking LEED and WELL Certifications and plans to incorporate View Dynamic Glass, which controls UV and visible light from entering the building without blinds. Additionally, the project will feature a 38,000-square foot solar panel array a top the parking garage installed by Cherry Street Energy. Science Square Labs is slated to deliver during Q1 2024.
As part of the Science Square Labs development, TCC is providing a $500,000 Community Educational Grant to support job training, education and outreach to help neighboring community members develop the skills they need to participate in the life sciences industry.
“Science Square offers unparalleled opportunities for life sciences innovators to tap into Atlanta’s diverse talent base,” said Katherine Lynch, Senior Vice President of TCC. “TCC is excited to bring much-needed lab infrastructure in a way that positions Atlanta as the model life sciences ecosystem of the future.”
TCC is pleased to announce an expansion of its partnership with Portal Innovations, a life sciences venture capital firm, which will occupy a full floor at Science Square Labs, offering fully equipped lab space, seed financing, and management expertise for start-ups. TCC is additionally building a floor of pre-built “graduator” speculative lab/office suites for growing life sciences companies.
Designed by Rule Joy Trammell + Rubio, HSR’s Class A residential building will rise 14 stories and feature a mix of one-, two- and three-bedroom apartments. The residential building will include an affordable housing component and ground-floor retail. The first units are slated to deliver in early 2024, with full completion later that year.
“Our team is excited to kick off High Street Residential’s first multifamily development in the Atlanta region. This project will provide much-needed new housing – including affordable units – and retail within West Atlanta, adjacent to Georgia Tech’s campus,” said Scott Kirchhoff, Senior Vice President for HSR. “This is just the beginning of the impressive 16-acre mixed-use Science Square development, which we believe will have a positive and lasting impact on Atlanta and the surrounding neighborhood.”
Brasfield & Gorrie is the general contractor for the entire Science Square development.
Science Square is located adjacent to Georgia Tech’s Midtown Atlanta campus. The new development is a holistic mixed-use community that will be master planned to harness inclusion as the fuel for innovation.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is the nation’s leading developer and investor in commercial real estate. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of December 31, 2021, TCC had $18.5 billion of projects in process and $9.3 billion in its pipeline. It employs more than 675 professionals in the United States and Europe.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (based on 2021 revenue). For more information visit www.TrammellCrow.com.
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