ATLANTA, Jan. 16, 2015 /PRNewswire-USNewswire/ -- The Georgia Institute of Technology has taken another step to reinforce its commitment to support and enhance the Institute's innovation ecosystem and economic development role in Midtown Atlanta's Technology Square. The Institute, advised by Cushman & Wakefield, issued a request for qualification (RFQ) for private developers interested in the expansion of Technology Square.
Anchored by a high performance computing center, the development will be a transformative project providing a sustainable platform for expanding interdisciplinary research, collaboration and co-location with industry partners, while also supporting Georgia Tech's academic and research programs in advanced analytics and computing.
The target site for the proposed complex is located in Technology Square, between Spring Street and West Peachtree Street, near Georgia Tech's Scheller College of Business and the Georgia Tech Hotel in Midtown Atlanta. As the anchor tenant, Georgia Tech intends to occupy about half the space in the building or a total of 300,000 rentable square feet (RSF).
"The project is aligned with our vision of developing a high performance computing center in Midtown Atlanta," said Executive Vice President for Administration and Finance Steve Swant. "With the significant interest and participation of Georgia Tech's academic units and an impressive list of prospective industry partners, the opportunities to expand this ecosystem and support economic development will continue to transform this area into a unique, highly desirable destination for all stakeholders."
According to Georgia Tech's Executive Director for Real Estate Development John Majeroni, Georgia Tech will select a private developer to deliver the project through the RFQ process and subsequent Request for Proposal process.
"The development approach is new for Georgia Tech", said Majeroni, "The Institute will leverage its role as the anchor tenant to encourage the developer to bring additional space and users to the project, magnifying it's positive impact on the Technology Square neighborhood."
The next step will involve the process of identifying qualified developers to provide formal proposals for the development and securing additional economic commitments needed to enable this expansion to proceed.
SOURCE Georgia Institute of Technology