A university’s plan for a new 200,000-square-foot facility downtown is moving forward.
Michigan State University signed a long-term ground lease on June 6 with Health Innovation Partners, a real estate development joint venture between MB Real Estate, Walsh Construction/Walsh Investors and Rockford Construction.
The long-term ground lease allows plans to move forward for the continued development of the MSU Grand Rapids Research Center site, at the northeast corner of Michigan Street Street NW and Monroe Avenue NW, to be funded by the private developer partners.
MSU announced its plan in December for a 200,000-square-foot medical innovation building and 600-space parking structure, with a groundbreaking expected this fall. The facility is anticipated to open in late 2021.
A third building is also planned for the future.
MSU and the developers are in discussion with "industry" and health care tenants focused on disciplines like cancer research, neurodevelopmental and neurodegenerative disorders, artificial intelligence and medical device development.
The new building will focus on driving innovation through relationships between tenants, hopefully resulting in bringing new discoveries to market.
Anticipated outcomes of the collaboration include research, testing and the commercialization of new therapies and devices.
“The medical innovation building will create an ecosystem to enable synergies between academic medicine, health care delivery systems and industry partners that will join us in the transformation of health,” said Norman Beauchamp Jr., associate provost and assistant vice president for health affairs at MSU and dean of the MSU College of Human Medicine.