GRAND RAPIDS, Mich. - Michigan State University's plans for another medical building in Grand Rapids are moving forward.
Health Innovation Partners, a real estate development joint venture between MB Real Estate, Walsh Construction/Walsh Investors and Rockford Construction, and Michigan State University today announced the signing of a long-term ground lease for the development of a medical innovation building and parking structure at 400 Monroe Ave. NW.
MSU’s Grand Rapids Medical Research Center opened in 2017 and is currently the only structure occupying the northeast corner of Michigan Street and Monroe Avenue. Now with a signed ground lease, plans for a medical innovation building can move forward, with a groundbreaking expected this fall. The project will be approximately 200,000-square feet with a 600-car parking structure. A third building is planned for the future.
The new building will focus on driving innovation through public-private partnerships by encouraging relationships across tenants, and as a result, bring new discoveries to market. Anticipated outcomes of the collaboration include research, testing and commercialization of new therapies and devices.
The center is anticipated to open in late 2021.
MSU and the developers are in discussion with tenants spanning private industry and health care teams focused on disciplines like cancer research, neurodevelopmental and neurodegenerative disorders, artificial intelligence, and medical device development.
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