Real Estate Development Experience?
Is It a Dropdown under REAL ESTATE DEVELOPMENT?
Should it be Dropdown for Should Each of 3 be on Separate Pages?
Innovation Park at Penn State
IDEA Partnerships (working through Morlok Development Group) carried out all strategic business planning and pre-development activities for Innovation Park at Penn State in the late 1980’s. Based upon this planning, MDG has developed 540,000 SF of university and private-sector facilities, including the Penn Stater Hotel and Conference Center; the Penn State Nanotechnology Laboratory, a mixed-use condominium building, which includes the region’s incubator; Penn State’s broadcast center; and, continues to own and operate two speculative laboratory-enabled multi-tenant buildings developed in 1998 and 2001.
Oklahoma Technology and Research Park
The Oklahoma Technology and Research Park is a joint initiative of Oklahoma State University, Meridian Technology Center and the City of Stillwater. IDEA Partnerships completed a strategic business plan and redesigned the park’s land plan from an industrial park subdivision to a state-of-the-art, pedestrian friendly, “village concept,” supportive of a knowledge community. Based upon this planning, IDEA Partnerships developed a 36,000 SF speculative multi-tenant laboratory/office building in 2004. Ownership of the building was transferred to Oklahoma State University in 2010 for a combination of discounted purchase price and charitable donation.
Arkansas Research and Technology Park
IDEA Partnerships developed Enterprise Center, a 65,000 SF speculative laboratory-enabled multi-tenant building in the park in 2010. The “laboratory enabled” features allow great flexibility to economically offer speculative laboratory space. Also, there is a central atrium providing collaborative space for affiliates in the building and the park. Enterprise Center is LEED Silver Certified and includes state-of-the-art energy saving systems and a solar array. The original financing was a complex structure of developer equity, commercial debt, new market tax credits and state and federal funding. In 2021, IDEA Partnerships arranged a self-amortizing (20 year) nonrecourse refinancing that allowed the property to be transferred to the University of Arkansas Technology & Development Foundation for a combination of discounted purchase price and charitable donation.