Development begins on BioTech 8 in Richmond
The Lingerfelt Cos. in Richmond said Tuesday that development has begun on the third phase of BioTech 8, a six-story tower within in the city’s downtown, 34-acre Virginia BioTechnology Research Park. The project will complete a $100 million, three-building headquarters complex for Health Diagnostics Laboratory Inc., one of the country’s fastest growing health management companies.
The project totals 276,000 square feet including a four-story, 485-space parking deck.
“Since partnering with HDL in 2009, development has been fast paced with the third phase, six-story tower scheduled for completion spring 2014 … HDL is a significant complement to our growing health-care development portfolio. We have enjoyed partnering with such a high-quality and successful company.” Ryan Lingerfelt, a principal with Lingerfelt Cos., said in a statement.
The Phase III BioTech 8 expansion will bring total development at the biotech park to more than 1.2 million square feet. The park currently has a mix of more than 60 public and private bioscience companies, including three publicly traded firms.
Lingerfelt recently completed several other local heath-care related projects including OrthoVirginia, a $25 million, 70,000-square-foot facility in Chesterfield County for OrthoVirginia orthopaedic specialists and HCA Virginia CJW Sports Medicine; the Virginia Community Healthcare Association headquarters, a two-story, 25,268 square-foot building; and the 100,000-square-foot Bon Secours Heart Institute.