News from Montgomery College
900 Hungerford Drive, Suite 200, Rockville, MD 20850
Date: August 12, 2004 (04-66)
Montgomery College Selects Rockville-based Foulger-Pratt to Develop Life Science and Technology Business Park at Germantown Campus
(Germantown, Maryland)—Montgomery College officials announced today that Foulger-Pratt Development Inc. of Rockville has been named the selected real estate developer for a planned life sciences and technology business park at the Germantown Campus.
As a result of the selection, Foulger-Pratt will now enter into exclusive negotiations with the College, to craft a long-term lease agreement that will pave the way for the build-out of the 35-acre business park, to be located just off I-270 at the MD Route 118 interchange. One of the last undeveloped properties along Montgomery County’s “I-270 Technology Corridor,” the site for the business park features high visibility from I-270, close proximity to a high concentration of bioscience and technology firms, and a wide array of education and federal research facilities. Development of the business park.
“We envision the Germantown Life Sciences and Technology Park as an integral part of Montgomery College’s establishment of a world-class bioscience and technology business and education center that will combine opportunities for business development, education, training and research,” said Dr. Charlene R. Nunley, president of Montgomery College. “The selection of Foulger-Pratt gives us great confidence that this vision will be realized,” said Nunley.
“This is another giant step forward for this important project,” said Montgomery County Executive Douglas M. Duncan. “Just as the Shady Grove Life Sciences Center put Montgomery County on the forefront of the burgeoning bio-tech industry, the Montgomery College life sciences park will play a critical role in ensuring that we remain one of the world’s leading biotechnology centers.”
Foulger-Pratt will be responsible for the planning, construction, marketing and management of almost 800,000 square feet of business park development, in close cooperation with the College. Marketing of the park will be directed at private firms specializing in biotechnology, information technology, telecommunications, and other areas of high technology.
As envisioned, private-sector development opportunities for laboratory and office space within the business park will be anchored by both the existence of a new, County-sponsored technology business incubator and the College’s planned bioscience education center, on the adjacent campus. The educational building is one of the College projects included in the County’s recently approved six-year Capital Improvements Plan.
Recently, the College received a $600,000 National Science Foundation grant to help develop a multi-faceted biotechnology education and training program on the Germantown Campus that will serve students at all levels, from middle school to the post-doctoral level. “This effort, combined with our development of the campus’s new, state-of-the-art bioscience education center, will ensure a pipeline of trained workers for tenants in the business park and the region,” said Dr. Hercules Pinkney, Vice President and Provost of Montgomery College’s Germantown Campus.
In planning for the science and technology business park, Montgomery College officials have worked closely with the County’s Department of Economic Development to ensure that the project successfully blends the educational needs of the College with the biotechnology and information technology economic development goals of the County.
In 2003, in order to ensure adequate space for the growth of the Germantown Campus of Montgomery College and to accommodate the business park, the College acquired 20 acres of land adjacent to the campus, with County and State financial support. A real estate advisor was selected in September of that year to provide advice on selection of a private development partner. A request for proposals was issued this past January, with responses received in March. An evaluation committee made up of representatives of the College, the County, the College Foundation and private industry reviewed the submissions, conducted interviews with prospective developers, and ultimately recommended Foulger Pratt as the top firm to begin negotiations.
Once negotiations are concluded on a final developer agreement—which College officials believe could be completed by this fall—detailed planning, design and approval of the project is expected to take approximately 12 months. It is anticipated that the first phase of construction on the project could be completed by early 2007.
For more information on Montgomery College-Germantown’s planned life sciences and technology park, please contact Steve Poteat of the Germantown Campus’s Office of Vice President and Provost at 240-567-7718.
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Montgomery College is a public, open admissions community college with campuses in Germantown, Rockville, and Takoma Park, plus workforce development and continuing education centers in Gaithersburg, Wheaton and Silver Spring. The College serves nearly 50,000 students a year, through both credit and non-credit programs, in more than 100 areas of study.