Tech Board enters agreement with developer

Home/Archives/Tech Board enters agreement with developer

The South Jersey Technology Park’s Board of Directors named Lincoln Property Company as master developer of the Tech Park. The developer will provide pre-construction and pre-development services for the Technology Park, actively market the site, manage the infrastructure work, lease the land for the project to develop, identify and recruit tenants, and construct the first building.

Lincoln Property has been involved with many local projects, including Penn Mutual Towers and 1760 Market Street in Philadelphia, and the RiverWinds community center in West Deptford. Construction on the Tech Park is expected to start in six to 12 months, depending on the permit process.

The Technology Park is a proposed mixed-use research and academic high technology park/campus that will be developed in phases, with the first phase consisting of up to 200,000 square feet in as many as four buildings.

The University partnered with Lincoln to supplement the $6 million grant from the state’s Economic Development Authority and a $1 million contribution from the Rowan University Foundation. Under the terms of agreement, which must also be approved by officials from Lincoln Property, the South Jersey Technology Park will provide $5.8 million for construction of the campus’ first building.

The University believes the Tech Park will attract numerous high-tech companies to the area. Tthe ultimate goal is to attract high-paying jobs to South Jersey and to keep tech-savvy college graduates in the region.

Written by

The author didnt add any Information to his profile yet