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December 12, 2011

Percontee to build mixed-use LifeSci Village in US

Montgomery County in the US is planning to collaborate with Percontee to regenerate 300 acres in White Oak, Maryland, as a mixed-use life sciences centre, named LifeSci Village, at an estimated cost of $3bn.

Montgomery County in the US is planning to collaborate with Percontee to regenerate 300 acres in White Oak, Maryland, as a mixed-use life sciences centre, named LifeSci Village, at an estimated cost of $3bn.

Under the plan, a 115-acre site owned by Montgomery County, formerly a sludge-processing facility, will be merged with a 185-acre Percontee-owned former quarry immediately to the south-east to create LifeSci Village.

Global LifeSci Development is planning to transform Percontee’s former sand and gravel quarry and the County’s unutilised Site 2 property spreading across an area of 300 acres into a mixed-use development.

The mixed-use business park will include bioscience companies and a research centre, as well as housing, trails, parks and outdoor spaces, educational facilities, restaurants, shops, and other entertainment and services amenities.

LifeSci Village forms part of the vision to develop East County into a science, technology and medical destination as part of the White Oak/FDA Science Gateway Master Plan.

Montgomery County Department of Economic Development director Steve Silverman said: "Percontee won the deal by beating out two established development firms, Hines and Trammell Crow."

Percontee executive vice-president and general counsel Jonathan Genn said the company would develop the site through an affiliate, Global LifeSci Development, and create a hub of science and research that would serve as a port of entry into the US public health market.

Montgomery County will work with Global LifeSci Development over the coming months to work out timelines and related development milestones.

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