Science, Technology and Research Trust Seeks Development Partner for Science City
SAN JUAN – The Puerto Rico Science, Technology and Research Trust announced Wednesday plans to develop “Science City” on 68 acres in San Juan. The private nonprofit — which focuses on encouraging innovation, technology transfer and commercialization, as well as the creation of jobs — is seeking a development partner to lease, finance, develop and manage the Science City project on a long-term basis. The site is cleared to create a state-of-the-art, mixed-use, transit-oriented, sciences, technology and research community, with supporting residential, retail and lodging uses.
“The Trust is an integral part of the island’s Knowledge Corridor, with public- and private-sector board members representing institutions such as the University of Puerto Rico, the Molecular Sciences Research Center, Yale University, Amgen and local pharmaceuticals,” Lucy Crespo, chief executive officer of the Trust, says in a news release. “Developing Science City will advance the Trust’s mission to invest, facilitate and build capacity to continually advance Puerto Rico’s economy and its citizens.”
Since it’s inception, the Trust will have made a significant investment by June in land, site improvements and infrastructure as part of an ongoing plan for supporting the private development.
“Science City is a top priority for Puerto Rico’s economic development as a means of reversing recent trends and attracting new companies that will create high-paying jobs and leverage the research activities occurring on the island,” Ivan Ríos, chief operating officer of the Trust, says in the release. “As a financially viable development partner with significant assets, the Trust is prepared to enter into a long-term lease of the site with a selected developer and work side by side to help realize the vision and make Puerto Rico a globally recognized innovation hub connecting and integrating Puerto Rico’s science and technology ecosystems.”
The Science City site is in San Juan is surrounded by publicly and privately owned hospitals, universities and research institutions such as the Comprehensive Cancer Care center and new Molecular Sciences Research Center, the University of Puerto Rico Medical School, the University of Puerto Rico Rio Piedras campus, Centro Médico de Puerto Rico campus with eight hospitals, and San Juan Veteran’s Administration Hospital. The Trust is also working with the other surrounding science and research institutions to collaborate with the it and future Science City tenants in fields including research, technology transfer and clinical trials.
By investing in research and the commercialization of technology, the Trust serves as a catalyst for creating and retaining the Island’s highly qualified, well-educated and often bilingual residents. The Trust is also responsible for Puerto Rico’s public policy for science, technology, research and development.