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McMaster Innovation Park Executing on a Vision

McMaster Innovation Park Executing on a Vision. Presentation to the Kirkendall Neighbourhood January 10 th , 2008 Zach Douglas. The Role of Research Parks. INNOVATION:

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McMaster Innovation Park Executing on a Vision

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  1. McMaster Innovation Park Executing on a Vision Presentation to the Kirkendall Neighbourhood January 10th, 2008 Zach Douglas

  2. The Role of Research Parks

  3. INNOVATION: The process through which economic and social value is extracted from knowledge (through the creation, diffusion and transformation of ideas) to produce new or significantly improved products, processes and technologies.

  4. What is Needed for Successful Innovation • Strong interface between university and industry/private sector • Infrastructure for applied research and education • Interconnecting the stakeholders … it is all about skilled people and their interconnectedness • Local entrepreneurial culture • A compelling vision driven by industry and embraced by the community • Leadership from the major local institutions • Commitment of the three levels of Government

  5. University COMMERCIALIZE Government Labs Industry Business Venture Capitalists Services CO-LOCATE CONNECT

  6. McMaster Innovation Park

  7. Vision McMaster Innovation Park will be an internationally recognized focal point for innovation, creativity, learning and research excellence aligned with the research strengths of McMaster University.

  8. Mission Statement • The Mission of McMaster Innovation Park is to develop and sustain an environment that: • facilitates and accelerates innovation, the transfer of knowledge and the commercialization of research resulting in economic and social development • encourages successful collaboration amongst private sector, government, hospital, university and college researchers and educators • is aligned with and leverages the research strengths of McMaster University • and has global reach resulting in regional prosperity • educates and excites the community about the vital role of the University in the innovation process • educates and excites the community about new developing technologies and the jobs and prosperity they bring

  9. What Will MIP Host? • Private, Government and University Research Facilities(Multi-use/multi-tenant or stand-alone research buildings) • Learning and training facilities • High-tech research-driven companies • Business incubator / accelerator facilities • Conference / short-term accommodation • Amenities – restaurants, retail, recreation and open spaces • Academic buildings

  10. Character of the Park • Prestigious, professional, high value research park • Attractive buildings, landscape, public art, screened parking • One or more “centrepiece” open spaces • Pedestrian connectivity, bicycle-friendly, traffic- calmed • A place to work, play and potentially live • Connected to the community

  11. Planning Considerations • Create flexible buildings and spaces • Employ environmental best management practices in buildings, green roofs, landscaping and storm water management • Ensure security of intellectual property, specialized equipment is shared • Longwood Road and Frid Street Road extensions urban and community streets that connects the area to the city • Provide access to community

  12. McMaster Innovation Park – N.E. Quadrant

  13. From This

  14. To This

  15. And This

  16. Status of McMaster Innovation Park • Property purchased Jan 05 with possession taken April 05 • Environmental risk assessment and analysis related to site and remediation planning is essentially complete • Demolition started June 05 and was completed Spring 06 • Warehouse building is being leased for the short term • April 06 Federal Government re-announced relocation of MTL • Province and City have provided financial support • Master planning and site development is on-going • Detailed planning is underway for four projects • Construction is underway on the Red Brick Building

  17. Capital Budget Highlights • 4 Projects Under Development • 1. Red Brick Building Redevelopment • $15M over 2 years • Phased • 50,000 sq. ft. out of 115,000 net rentable occupied by end of ‘08 • Construction underway

  18. 2. CANMET (MTL) – (Federal Materials Technology Laboratory) • detailed design underway • LEED Platinum goal • Construction to start Fall 2008 • Building expected to cost $35.0 - $40.0M • 140,000 sq. ft. of primarily specialized materials testing labs

  19. 3. Engineering Technology Centre • G.M. Centre for Automotive Materials and Corrosion • Mohawk/Mac partnership for Bachelor of Technology Program • $3.0M preliminary capital commitment by Province • Construction to start late in 2008 or early 2009

  20. 4. Hotel Project • Sale of land to developer/hotelier • Long term stay suites hotel such as a Residence by Marriott • Shared conference facilities and meeting rooms with 175 Longwood Road South • Market analysis pending - approximately 138 rooms

  21. Conclusion All the ingredients are in place • A vision and a plan. • Commitment from stakeholders • Capital • General and Business Community support • A team to make it work Executing on the vision is underway. Stay tuned!

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