Forest City Breaks Ground at Colorado Science + Technology Park at Fitzsimons

Thursday, September 4, 2008 General News
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AURORA, Colo., Sept. 3 Developer Forest City Science +Technology Group broke ground today at a noon event at the Colorado Science +Technology Park at Fitzsimons, a 184-acre business park dedicated to lifescience focused companies, by demolishing the old Fitzsimons smokestack tomake way for new, state-of-the-art scientific facilities. Plans call forForest City's first life science building that will accommodate the growth ofthe region's existing life science industry as well as existing incubatortenants on site. In addition, a Hyatt Place hotel and conference facility andan approximately 175,000 square-foot office building for UniversityPhysicians, Inc. will be developed. The Fitzsimons Federal Credit Union willalso break ground soon on a new facility.

In addition, Aurora Mayor Ed Tauer unveiled an updated economic studypredicting $3.5 billion in annual economic output in 2008 and up to$4.5 billion in annual economic impact by 2013 from the former Fitzsimons ArmyMedical Center, which now includes the Park, the Anschutz Medical Campus, TheChildren's Hospital and Research Center, and the future Veterans AffairsHospital.

"The build-out of the Colorado Science + Technology Park at Fitzsimons isan important part of a grand vision to bring science and business together inone square mile that is fast becoming one of the most advanced life sciencecommunities in the world," said Tauer. "According to our latest economicstudy, developments at Fitzsimons and the Anschutz Medical Campus will yield20,000 on-site jobs by 2013 and more than 43,000 on-site jobs when fullydeveloped."

At full development, the 578-acre land parcel is projected to generatestatewide totals of $11.5 billion in economic production, $4.3 billion inannual personal income, and nearly 100,000 jobs, according to the studyprepared for the Fitzsimons Redevelopment Authority by Sammons/Dutton LLC. Thestatewide figures include multipliers that account for ancillary commerce,employment and tourism that will be created throughout Colorado as a result ofwork originating from this life science campus. The area is expected to reachfull development between 2033 and 2038.

"We're inspired by the incredible concentration of brainpower and theimportant partnerships that will be possible between academia and privateindustry as companies locate to the Colorado Science + Technology Park atFitzsimons," said University of Colorado President Bruce Benson, who alsospoke at the groundbreaking event.

"Forest City is proud to be part of a project that will so thoroughlytransform the community through jobs and the economic and quality-of-lifebenefits that the park promises," said Forest City's Jim Chrisman.

About The Colorado Science + Technology Park at Fitzsimons

The Colorado Science + Technology Park at Fitzsimons(, located near I-225 and Colfax, is a 184-acremedical and research park being developed by Forest City Science + TechnologyGroup (, a leading developer of life sciencecampuses across the country. Forest City's goal is to give Colorado'sbioscience enterprises the opportunity to build or lease corporate andclinical space adjacent to the wealth of intellectual capital andinstitutional knowledge already at the Anschutz Medical Campus. The parkalready houses two incubator buildings totaling 80,000 square feet and willreach approximately six million square feet at build out. Companies thatlocate in the park will benefit from state-of-the-art buildings andinfrastructure, opportunities for growth and development, parks, town centerand related amenities, as well as close proximity to the talent and corelaboratory facilities of the University of Colorado Hospital, University ofColorado Denver research and education facilities at the Anschutz MedicalCampus, The Children's Hospital and future Veterans Affairs Hospital.

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