Michigan State University moves forward with P3 for Grand Rapids Research Center Expansion
DETROIT – Michigan State University (MSU) has announced a Public-Private Partnership (P3) that will expand the medical research capabilities at the site of the Grand Rapids Research Center (GRRC).
The University is proceeding with negotiations on the ground lease and development agreement with Health Innovation Partners, a joint venture between MB Real Estate, Walsh Construction/Walsh Investors and Rockford Construction & Development. The ground lease will require the development team to construct a new building and provide tenant lease space for MSU and other stakeholders that will support the MSU research and health care innovation cycle.
“We are excited to partner with Michigan State and our P3 development team to deliver a facility that will expand education, research and innovation across the Grand Rapids campus,” said Greg Ciambrone, vice president of Walsh Investors, LLC.
The facility will enable synergies between academics, medicine, health care delivery systems, and private industry. The facility will also provide space to accommodate the growth of the human health research teams that exist in the GRRC and on MSU’s East Lansing campus
The development will also include a new parking structure, which is required to meet the City of Grand Rapids parking requirements on this site. The project may also include an additional future building on the site for yet-to-be-determined program space.
“We look forward to working with our construction partner Rockford Construction to safely deliver a high-quality project that will enhance MSU’s medical research,” said Jason Kopp, vice president of Detroit-based Walsh Construction.
Proposed tenants include private industry and health care teams focused on advanced diagnosis and treatment for cancer, neurodevelopmental and neurodegenerative disorders; development of medical devices that improve patient access, affordability, and outcomes; as well as augmented intelligence and machine learning efforts.
Construction is anticipated to begin in the fourth quarter of 2019, with substantial completion expected in late 2021.