A new bioscience research park is inching closer to reality in the South Bay.
In 2017, Los Angeles County engaged the Lundquist Institute for Biomedical Innovation for the development of the project, which would rise on 15 acres of land on the western side of the Harbor-UCLA Medical Campus. A full buildout of the plan would result in roughly 250,000 square feet of occupiable space, intended for start-ups and other biotechnology firms launched from incubators in Los Angeles County.
The Lundquist Institute, citing interest from several unnamed bioscience firms - including a pharmaceutical company, a research organization, and a stem cell company - now proposes to expedite construction of the campus through a phased approach. The initial development, consisting of two buildings and parking, would allow the County to relocate Department of Health Services operations which are housed in structures dating to the 1940s.
The first phase of the project would consist of 180,000 square feet of space across seven acres of property fronting Carson Street. The total cost is estimated at $150 million.
Under proposed terms approved by the County Board of Supervisors, the Lundquist Institute will control the land for a term of 55 years with two 20-year options. Allowable uses within the campus - including the County offices - offices with related manufacturing uses, medical research, wet and dry labs, and life science education and training.
The Lundquist Institute, founded in the 1960s, currently occupies 11 acres of the Harbor-UCLA campus, including a four-story, 78,000-square-foot research facility which opened in 2019.
The non-profit organization was formerly known as LA BioMed until 2019, when it was renamed following a $70-million contribution from Melanie and Richard Lundquist. Richard Lundquist is the president of Continental Development Corporation, an El Segundo-based real estate investment firm, which has consulted on the proposed biotech park.