NEW YORK CITY — The New York City Council has approved two life sciences projects representing hundreds of millions of dollars in capital investment and thousands of new jobs, according to a press release issued by New York City Mayor Eric Adams and the New York City Economic Development Corp.
The first project is known as Science Park and Research Campus (SPARC) Kips Bay and will be located on the current site of Hunter College’s Brookdale Campus on the east side of Manhattan. SPARC Kips Bay will encompass an entire city block and will feature more than 2 million square feet of academic, public health and life sciences space.
SPARC Kips Bay is expected to generate more than $42 billion in economic impact over the next 30 years and to account for the creation of more than 15,000 total jobs (12,000 unionized construction jobs and 3,100 permanent jobs).
Construction is expected to begin before the end of year in the form of decommissioning and demolishing of existing structures on the future site of the campus. International developer Skanska has been named construction manager of SPARC Kips Bay.
The development team will also make public infrastructure improvements, including the creation of new publicly accessible open space, and a new ADA-accessible 25th Street pedestrian bridge over Franklin D. Roosevelt East River Drive.
The second development is known as Innovation East and will be located within the former Public Health Lab building at 455 First Ave., which is also situated within Manhattan’s Kips Bay neighborhood. The Public Health Lab will relocate its operations to Harlem Hospital at the end of the year, with demolition of 455 First Ave. slated to take place in 2026.
According to New York Business Journal, the private-sector development team for Innovation East includes Taconic Partners, Elevate Research Properties, Divco West, New York University Grossman School of Medicine and Ennead Architects.
“Innovation East brings to fruition the visionary work of three mayoral administrations and the outstanding economic development corporation team to continue to make New York City a national leader in the life sciences,” says Colleen Wenke, president and CEO of Taconic.
Innovation East will measure approximately 500,000 square feet and could generate as many as 1,000 new jobs. Tenants at Innovation East will also partner with local K-12 schools, colleges and nonprofit organizations to build access to career pathways in the life sciences sector.
Both projects represent parts of a larger initiative known as LifeSci NYC, which has a stated goal of growing New York City’s existing life sciences footprint by more than 10 million square feet. “By transforming Kips Bay into a hub for cutting-edge research, education and workforce development, we are creating thousands of good-paying jobs and establishing a strong talent pipeline that will benefit New Yorkers for generations,” says Maria Torres-Springer, first deputy mayor of New York City. “These projects are a clear reflection of our commitment to future-proofing New York City’s economy and positioning our city at the forefront of the industries that will shape the future.”