RFP Released for Coldstream Town Center Developer
LEXINGTON, Ky. (June 24, 2011) —The University of Kentucky is soliciting proposals for a master developer to build a mixed-use "lifestyle" town center in the heart of the Coldstream Research Campus. The proposed project will include new offices, laboratories, residential units, facilities such as a restaurant, coffee shop, bank, fitness center, dry cleaner and day care, and the restoration of the Carnahan House. The request for proposal responses are due the first week of August.
"The goal of the RFP (Request for Proposal) is to create an innovative Live-Work-Play-Learn community at Coldstream that is pedestrian friendly, encourages collaboration among our companies, and helps us recruit the new generation of high-tech workers," said Len Heller, UK vice president for Commercialization & Economic Development. "The town center will provide the necessary public and social infrastructure to seed development in other areas of our research campus."
Earlier this year, the Kentucky General Assembly expanded the state's Tax Increment Financing (TIF) program to include the university's research campus. The taxes generated from the Coldstream town center TIF district will help finance much needed laboratory and incubator space.
It is envisioned that the town center will include several three or four story buildings with offices and residential space on the upper floors and food and beverage outlets and other common-use facilities below. A renovated Carnahan House and 10 acres of park land will be the centerpiece of the town center development. New laboratory buildings will be adjacent to the town center.
"The town center is integral to developing Coldstream's research campus mission while also meeting our economic development and job creation goals," said Coldstream Executive Director George Ward. "We will continue to focus on the growth of high-tech companies created by UK faculty, staff and students, and companies that need wet or dry laboratory space."
"With current development activities, including the addition of Tempur-Pedic's international headquarters, Coldstream's employee population will more than double to 2,200 by the end of 2012," said Ward. "The new town center is important to our growth momentum."
Ward is also targeting divisions of established companies which could benefit from a UK partnership in agricultural research, energy self-sufficiency, food security, equine research, health care, pharmaceutical sciences, or a variety of engineering disciplines. In addition, Coldstream Laboratories Inc. can service companies that need to be located near sterile pharmaceutical manufacturing facilities.
Both Heller and Ward received input from local and state government and local and national design and development-related professionals, business professionals, educators, existing and potential tenants and neighborhood associations around Coldstream to determine the plan for the proposed development.
An advisory committee including architects specializing in building design, landscaping and environmentally responsible building practices, and a representative of the Lexington-Fayette Urban County Government will provide technical assistance during the selection of a master developer.
A recommendation on a master developer to will be given to the University of Kentucky Board of Trustees later this year. The trustees will have final approval on the agreement with the recommended master developer.
An electronic version of the RFP is available through the University of Kentucky Division of Purchasing at www.uky.edu/purchasing, click on Bid & Proposal Opportunities. For more information, contact: Mike Mudd, UK Capital Construction Procurement, (859)257-5409, MikeMudd2@uky.edu.
Coldstream Research Campus quick facts
- Zoning created in 1992
- 57 companies
- 1,000 employees
- $44 million annual payroll
- $685,000 in property taxes
- 735 acres including 225-acre city park
- 15 buildings, 4 owned by UK
- 690,000 of total 800,000 sq. ft. occupied
- 300,000 sq.ft. under construction
- 86.3% available space occupied
Core industry sectors at Coldstream
- Agricultural biotechnology
- Equine research
- Sustainable energy
- Medical devices and diagnostics
- Drug discovery & delivery
- Pharmaceutical manufacturing
- Engineering
For more information on the UK Coldstream Research Campus and the current companies at Coldstream, visit www.UKColdstream.com.