The College of Washington will transfer forward with a constructing envisioned as a gateway right into a reimagined a part of its Seattle campus after prevailing in a lawsuit introduced by a outstanding developer.
Alexandria Actual Property Equities Inc. (ARE) filed three claims in opposition to the UW in Thurston County Superior Court docket in Olympia, Wash. Final Friday, Choose Carol Murphy sided with the college (see ruling under) find that ARE’s remaining declare “lacks standing as a upset bidder” in its quest to develop a constructing at present known as W27, which can home analysis facilities in clear vitality, medical science and extra.
Pasadena, Calif.-based ARE, which has vital properties and investments within the Seattle area, participated within the request for citation (RFQ) and request for proposal (RFP) processes and was certainly one of two finalists for the undertaking.
The UW selected Baltimore-based Wexford Science + Know-how to develop the undertaking. The 2 events entered into lease contracts during which Wexford will design, finance, assemble and keep the brand new facility, and lease again roughly 100,000 sq. toes of house to the UW. Wexford has 17 “information communities” in its improvement portfolio.
ARE first filed go well with in June 2021, disputing the UW’s improvement RFP course of. It additionally filed a request for a preliminary injunction that was dismissed by Murphy.
The decide concluded that the method for choosing a developer “was not arbitrary” and was “considerate, strong and in the end truthful.”
ARE has partnered with the UW going again to 1998, in line with the courtroom ruling.
“We completely intend to attraction,” mentioned Joel Marcus, ARE government chairman and founder, in an emailed assertion to GeekWire on Wednesday.
The UW rejoiced on the closing of the continuing dispute — which it known as a “practically two-year effort by ARE to delay the undertaking.”
“We really feel buoyed by the courtroom’s determination, which reinforces the legitimacy and professionalism of our choice course of and clears the trail for us to maneuver forward with this pivotal improvement,” Lou Cariello, UW’s vp for amenities, mentioned in an announcement offered by the college. “On the identical time, we’re upset that ARE engaged on this authorized method, which has already resulted in vital prices to taxpayers in lawyer charges, elevated prices, and delays to the undertaking.”
Replace: The UW expressed disappointment Thursday in ARE’s plans to attraction the ruling.
“ARE has failed on all three claims and it’s disappointing that ARE might attraction the Court docket’s clear and decisive determination and delay this wasteful course of,” UW spokesperson Victor Balta mentioned. “ARE’s continuation of this effort is an affront to the taxpayers of the state of Washington and disruptive to the UW’s public mission.”
The UW envisions W27 as a gateway into what it’s calling Portage Bay Crossing, a neighborhood within the college’s west campus that can “merge schooling and scholar life with cutting-edge analysis, pioneering public/nonprofit establishments and personal firms.”
The 340,000-square-foot, 11-story constructing can be situated at 3919 College Approach N.E.. The UW mentioned it is going to be residence to each tutorial and personal analysis laboratories and places of work, the Washington Clear Vitality Testbeds, a rooftop photo voltaic panel testing space, the Institute for Protein Design and the Brotman Baty Institute. It should additionally home Join Labs by Wexford Science + Know-how.
Alexandria is a dominant participant in life sciences actual property. Its buildings home operations for a number of the Seattle space’s largest biotech firms, together with Seattle-based Sana Biotechnology and Bothell-based Seagen. ARE is growing a life sciences hub at Seattle’s virtually three-acre Mercer Mega Block.
The Puget Sound Enterprise Journal reported that the agency’s 432-property North American portfolio totals practically 41.5 million sq. toes and generates over $2 billion in annual income. Within the Seattle space it owns 46 properties totaling 2.8 million sq. toes, producing $109 million in annual income, in line with the Journal.