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Development Begins On Final Phase Of $100 Million Construction Project At BioTechnology Research Park In Richmond, Virginia

Development has begun on the third phase of BioTech 8, a six-story tower within the 34-acre Virginia BioTechnology Research Park in downtown Richmond, Virginia, The Lingerfelt Companies reported. The project will complete this $100 million three-building complex totaling 276,000 square foot and including a four-story, 485-space parking deck.

This facility is an expansion for Health Diagnostic Laboratories, Inc., a CLIA-certified and CAP-accredited laboratory, health management and bioscience company, offering a comprehensive test menu of risk factors and biomarkers for cardiovascular disease, diabetes and related diseases.

The Phase III BioTech 8 expansion for HDL will take total development at the Virginia BioTechnology Research Park to more than 1.25 million sq. ft. HDL's growth combined with the BioTech Park's unique mix of over 60 public and private bioscience companies, including three publicly traded firms, contribute to this park's success in attracting companies globally.

The Lingerfelt Companies Principal Ryan Lingerfelt said, "Since partnering with HDL in 2009, development has been fast paced with the third phase six-story tower scheduled for completion spring 2014. Lingerfelt is pleased to assist HDL in their expansion by developing all three of their buildings within the BioTechnology Research Park totaling 276,000 sq. ft. and a $100 million investment. HDL is a significant complement to our growing health care development portfolio. We have enjoyed partnering with such a high-quality and successful company."

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