Ground Broken on $65.6M Innovation Hub in East Baltimore
- May 26, 2015
Forest City-New East Baltimore Partnership, a joint venture between Forest City Enterprises, Inc. and Presidential Partners LLC, is building a new innovation hub for life sciences in East Baltimore, just north of the Johns Hopkins medical campus. The project is called 1812 Ashland Avenue and is expected to cost $65.6 million.
Ground was broken on Friday, May 15. The new laboratory and office building will have seven levels and about 168,000 square feet of space. It will be the newest addition to the Science + Technology Park at Johns Hopkins and part of the 88-acre East Baltimore Development Inc. renewal area, which is also developed by Forest City-New East Baltimore Partnership.
According to the developers, approximately 115,000 square feet of space at 1812 Ashland, or about two thirds of the building, have already been leased. Future tenants include FastForward, Hopkins’ fast growing business incubator, and many other start-ups and other companies. For FastForward, this will be the third location. It’s space will be outfitted as a core lab facility with shared equipment. There are currently 48,000 square feet of office and laboratory space still available at 1812 Ashland, as well as 2,000 square feet of street level retail space.
1812 Ashland is the first of three non-residential EBDI projects expected to start this year. The new building will be owned and managed by Forest City – New East Baltimore Partnership. It is scheduled to open in the summer of 2016.
Photo credit: www.scienceparkjohnshopkins.net