TechTown, Wayne State University Research and Technology Park, is unveiling its first building "TechOne" which is the result of bringing together innovative technological research companies and emerging entrepreneurs and melding both within a single village in the city of Detroit.
The grand opening ceremony is being held on Tuesday, April 20, from 3-5 p.m. at TechOne located at 440 Burroughs. Dignitaries who will be on hand include Michigan Governor Jennifer Granholm, Detroit Mayor Kwame Kilpatrick and Wayne State President Irvin D. Reid.
The opening of TechOne is an important step in TechTown's overall strategic plan to function as an urban center for technological research and entrepreneurial activity. It also serves as an important link in the chain of revitalization and development activity occurring in Detroit's mid-town area.
The geographic location of TechTown is a 12-city block area between the University Cultural Center and New Center, just north of downtown Detroit between Woodward and Third Avenues. It is an area that, at one time, was teeming with business activity and was home to 84 businesses.
The TechOne building is the result of the renovation of GM's former Chevrolet Creative Services Building. GM donated the building to TechTown. The $12 million renovation was funded by a number of private and public entities in partnership with TechTown including some that required financial ingenuity given today's economic challenges.
The core and outer shell of the former GM building, originally built in 1927, were renovated along with the first and fifth floors. The fifth floor will house a combination of wet and dry labs and offices geared for life sciences companies.
TechOne's fifth floor already is 80 percent leased.
Among the key tenants is Asterand, a Detroit-based privately-held company that provides high quality biological information and materials to genomics and proteomics researchers investigating the causes and cures for cancer, heart and brain disease and others.
"We are honored to be one of the pioneering tenants at TechOne and within TechTown," said Randal Charlton, founder and CEO of Asterand. "The TechTown village concept is an environment very conducive to our business and research needs."
Other TechOne tenants include: National Institutes of Health; MichBio; The Great Lakes Angels Network; and Wayne State Tech Transfer Office. Discussions are ongoing with several other organizations and entrepreneurs.
The first floor has offices for TechTown staff and a conference center for business development activities. There also is space for retail and dry labs suited for advanced engineering and information technology companies.
"This is truly a significant day for Wayne State University, Detroit and Michigan as we officially open the door to fast-track urban research and technology within the walls of TechOne," said Wayne State President Irvin D. Reid.
Howard Bell, TechTown's executive director, is equally pleased with the new offices that he now calls home.
"The completed renovation of TechOne now allows us to embark on the business of filling TechTown with the type of entrepreneurial activity that will establish it among the urban technology hubs in the country," says Bell, "TechOne can now represent the location for high tech business initiatives in this city: venture creation, technology screening, business plan development, investments, and job creation can all happen here."
The remaining floors of the 100,000-square-foot TechOne building will be revamped in stages of one per year, or sooner, depending on demand and funding.
TechTown is the Wayne State affiliated non-profit partnership in the Woodward Technology Corridor SmartZone. It is functioning as an economic development site for start-up companies involved in research- and technology- related industries.
Editor's Note: Governor Jennifer Granholm will tour TechOne at 2:30 p.m. and media are welcome to join the tour.