By: Leonard A. Robinson – Staff Reporter, New York Business Journal Jun 21, 2022
Taconic Partners has launched Elevate Research Properties, a life sciences subsidiary designed to manage the developer’s growing life sciences portfolio.
“We are excited to announce this new platform which will leverage the scale and quality of our existing life sciences portfolio with an experienced team that knows and understands the needs of research tenants,” Taconic’s co-CEO Paul Pariser said.
Matthew Weir will serve as Elevate Research’s president in addition to his current role as Taconic’s executive vice president.
Matthew Malone was recently hired as Elevate Research’s senior vice president. Malone was previously a principal at Perkins & Will, an architecture firm, where he led laboratory planning and design efforts.
“Taconic Partners recognizes the enormous opportunity that comes from our city’s growing life sciences sector,” Malone told the New York Business Journal. “I’m excited to be able to begin interfacing with these brilliant research scientists to discover how we can best serve them and allow them to utilize our buildings.”
Elevate Research Properties currently has more than one million square feet of real estate worth nearly $2 billion, Taconic Partners says.
Elevate currently has two active lab development on the west side of Manhattan. The Hudson Research Center, a 320,000-square-foot building, currently boasts numerous research tenants, including New York Stem Cell Foundation, Hibercell, c16 Biosciences and Renselaer Polytechnic Institute.
Elevate’s 400,000-square-foot project at 125 West End Avenue with a $600 million price tag is currently under development and expected to be open by the second quarter of 2023.
Plans for 309 E. 94th St., a 200,000-square-foot Class A-research lab project are expected to be unveiled in the coming weeks. Demolition and construction of the $325 million project is slated to commence later this year.