Point 225 opened in July 2019, with support from the state’s I-195 Redevelopment District Commission and Rhode Island Commerce, and features a variety of space options for companies, as well as gathering spaces, programming and the popular restaurant Bayberry Garden. The creation of wet lab-ready space will expand the appeal to life sciences companies by reducing the time necessary to build out a tenant’s laboratories.
“One of the trends we are seeing in the industry is a need for companies to accelerate the timeline in establishing new lab capabilities and operations,” said Gregg Herlong, Wexford’s vice president and Providence market executive. “Installing the critical building infrastructure and systems to create lab-ready spaces and the groundbreaking research that Brown will conduct in their space will make Point 225 and Providence more attractive to a wider range of life sciences companies.”
For Brown, the additional floor at Point 225 will support the need for expanded space for health and medical research, particularly as the University embarks upon a high-impact plan to significantly increase investment in research that benefits communities locally, nationally and globally. It also continues the University’s investments in projects focused on adding vibrancy to the Jewelry District, with a particular focus on scientific and biomedical research with the potential to create new economic activity in the city and state.
“These new lab spaces made possible by Brown University and Wexford Science & Technology will strengthen the life sciences research and development ecosystem in Providence and make the State of Rhode Island even more attractive to companies looking for lab space in proximity to impactful university research,” said Carol Malysz, executive director of Rhode Island Bio, the region’s trade association focused on the life sciences. “Most importantly, Rhode Island will finally have the chance to bring medical and scientific excellence to the forefront to foster innovation and entrepreneurship, impacting the health of our citizens.”
In addition to anchoring Point 225 with its School of Professional Studies, Brown also has 400 employees at South Street Landing, which was developed by Wexford in collaboration with CV Properties. Additionally, the University’s Warren Alpert Medical School, Laboratories for Molecular Medicine and School of Public Health are nearby, and this summer Brown began work toward planning an integrated life sciences building in the Jewelry District.
Russell Carey, executive vice president for planning and policy at Brown, said those projects are contributing to a more vibrant neighborhood, both economically and in regard to on-the-ground activity like eating in local restaurants and shopping at stores — and adding additional people to Point 225 will do the same.
“Point 225 and South Street Landing are tax-generating properties playing a major role in bringing new life to a neighborhood that not long ago sat largely empty, and Brown’s partnerships to date with Wexford have proven successful both for the University and for the neighborhood,” Carey said. “We value the opportunity to continue to serve as a catalyst for new commercial investments in Providence as we simultaneously position biomedical researchers at Brown to make an even greater impact in contributing to improved health care, patient outcomes and solutions for pressing health challenges.”