Innovation Park at Penn State
Phase One Development
University Park, Pennsylvania
Mr. Dan Leri
Director, Innovation Park
Lehrer McGovern Bovis
Infrastructure and all three major facilities of Phase I were completed in 1994.
Upon completion, MDG transferred ownership of the buildings to Penn State, the IDC, and “RPHCo,” an entity created to own the for-profit portion of the Conference Center/Hotel.
Immediately following MDG’s completion of the Strategic Business Plan for Innovation Park, Penn State retained MDG to carry out all activities necessary to develop Phase One of the Park, which included infrastructure improvements and three buildings: the 50,000 square foot Technology Center containing the Industrial Development Corporation and its Business Incubator and all of Penn State’s economic development units; the Material Research Institute Building, a 50,000 square foot laboratory; and the 260,000 square foot Penn Stater Conference Center/Hotel, comprised of banquet and conference facilities and a 150-room hotel.
MDG carried out all development activities, managed the design team, including planners, architects, landscape architects, building engineers, civil engineers, hospitality experts and the operator, traffic consultants, and other experts; contracted for the construction of the facility; organized financing; and managed the construction process, the commissioning and opening of the buildings. MDG assisted in the formation of Penn State’s research park management entity, “RPMCo” and, for the Conference Center/Hotel, created an unusual synthetic condominium structure in order to combine both commercial debt and tax-exempt bond financing within an integrated building.