ATLANTA, Georgia – Trammell Crow Company (TCC), a global commercial real estate developer, hosted a groundbreaking ceremony in partnership with its residential subsidiary, High Street Residential (HSR), and Georgia Advanced Technology Ventures (GATV), a cooperative organization of the Georgia Institute of Technology, for the first phase of Science Square. The in-person event was held on Thursday, August 18 from 9:00 AM – 11:30 AM at 387 Technology Circle NW in Atlanta, Georgia.
Formerly known as Technology Enterprise Park, Science Square is an 18-acre master-planned district offering premier commercial lab/R&D and residential developments and is being reactivated as a regional and global hub of bioscience and life science that will draw research and investment from academia and private industry regionally and nationally. This important groundbreaking for Phase 1 of the project was attended by leading officials at Georgia Tech, the city of Atlanta and the State of Georgia. 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 ground-floor retail space.
The event consisted of an arrival ceremony, followed by a presentation and ceremonial groundbreaking and concluded with a reception at The Gathering Spot. Speakers at the event included Ángel Cabrera, president of Georgia Tech; Sonny Perdue, chancellor of the University System of Georgia; Katherine Lynch, Senior Vice President of Trammell Crow; and John Flavin, Founder and CEO of Portal Innovations.
“Science Square is one of the most exciting developments to come to Atlanta in recent years,” said President Cabrera. “This new biomedical research and technology district will attract some of the nation’s finest innovators and grow into a global hub focusing on devices and procedures with the power to improve and save lives.”
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 to campus, covered parking and chemical storage space. TCC is seeking LEED and WELL Certifications and the project will feature a 38,000-square-foot solar panel array atop of the parking garage installed by Cherry Street Energy. TCC is also building a floor of pre-build “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 studio, one-, two- and three-bedroom apartments. The residential building will have Class A amenities defined by resident health, wellness, and sustainability with a lobby connected bike room, fitness center, yoga room, resort style pool courtyard with clubroom, sky deck lounge, and co-working space. The project will also 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.”
The first phase 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.
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.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is a global commercial real estate developer having developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of June 30, 2022, TCC had $19.3 billion of projects in process and $11.5 billion in its pipeline. It employs nearly 750 professionals throughout 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.
About High Street Residential
High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $2.7 billion with a current pipeline of over 4,500 units.
About the Georgia Institute of Technology
The Georgia Institute of Technology, or Georgia Tech, is a top 10 public research university developing leaders who advance technology and improve the human condition.
The Institute offers business, computing, design, engineering, liberal arts, and sciences degrees. Its nearly 44,000 students, representing 50 states and 149 countries, study at the main campus in Atlanta, at campuses in France and China, and through distance and online learning.
As a leading technological university, Georgia Tech is an engine of economic development for Georgia, the Southeast, and the nation, conducting more than $1 billion in research annually for government, industry, and society.
About Georgia Advanced Technology Ventures Inc.
Georgia Advanced Technology Ventures Inc. (GATV) is a legally separate, not-for-profit corporation that is organized and operated exclusively as a supporting organization to and for the benefit of the Georgia Institute of Technology.
GATV’s primary business purpose is to facilitate innovation and business collaboration with private enterprise, including, but not limited to, business, industry, entrepreneurs, and economic developers, and utilizing emerging technologies that are aligned with the strengths in research and education of Georgia Tech.
GATV provides support for technology transfer and economic development activities, including the Institute’s Advanced Technology Development Center (ATDC) incubator facilities and services to ATDC-affiliated companies.
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