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October 12, 2015

Financing secured for UW biomedical building

A concept rendering of a new UW Medicine research building in South Lake Union. Image by Perkins + Will

University of Washington's School of Medicine closed on the financing for the development of a $143 million biomedical research building in South Lake Union last week.

The eight-story, 165,000-square-foot structure, known as Phase 3.2, is a long-planned addition to UW Medicine's two-block campus south of Mercer Street between Dexter and Ninth avenues. The site address for the new building is 500 Dexter Ave. N.

The existing campus consists of three lab buildings and one administrative building, totaling more than 400,000 square feet.

The new lab will house space for biomedical research facilities, including three clinics and associated clinical research facilities. Research at the new site is expected to include new programs and the expansion of existing programs, such as microbiology, global health and kidney research. It will include a primary care clinic as well as a diabetes clinic and an ophthalmology clinic focused on retinal diseases.

Construction is scheduled to start in June 2016.

The development team includes UW Medicine, Vulcan Real Estate, Perkins + Will architects and Sellen Construction. Other design team members are Magnusson Klemencic Associates, structural engineer; Affiliated Engineers, mechanical and electrical engineer; Coughlin Porter Lundeen, civil engineer; and Gustafson Guthrie Nichol, landscape architect.

The nonprofit National Development Council was UW Medicine's financing partner. The project's public-private model combines the low cost of tax-exempt bond financing with the efficiency of a private-sector development team.

The building will be constructed next door to a seven-story UW research building at 750 Republican St., which opened in 2013. A third research building, Phase 3.3, is planned for a site on the same block just north of the neighboring buildings, on Mercer.

With the completion of the completion of Phase 3.3, the entire UW Medicine Lake Union campus will consist of six buildings and 903,000 square feet of office and life sciences lab space.




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