View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 1, 2021

Texas Medical Center begins construction on new life sciences campus

TMC3 is expected to be the world’s largest life sciences campus and will create 19,000 construction jobs.

Texas Medical Center (TMC) in the US has commenced construction on phase I of a 37-acre life sciences campus, named TMC³.

Free Report
img

Internet of Things set to transform the construction industry

The Internet of Things (IoT) is proving hugely beneficial to the construction industry, allowing different assets and people to be monitored and accounted for across a traditionally fragmented industry. As a result, companies that invest in IoT now promise to make long-term gains in the industry. According to GlobalData forecasts, spending on IoT in construction will reach $9.6bn by 2025. For an industry that has large sites to manage, strict project timelines, hazardous working conditions, and tight profit margins, IoT can create a manageable view of construction sites for project managers, streamline operations, and protect workers. In addition, it allows real-time data streams of assets, automates time-consuming tasks, and ensures employee safety and productivity. IoT integration with equipment manufacturing also has rich advantages for asset monitoring sensors. This, combined with artificial intelligence (AI) can help forecast materials and workers needed during the procurement stage and assist in forecast financing. Read GlobalData’s whitepaper to find out more, including information on:
  • IoT value chain
  • Market size and growth forecasts
  • Mergers and acquisitions
  • Leading IoT adopters in construction
  • Specialist IoT vendors in construction
Don’t get left behind – find out how IoT can fortify your operations and make investments now.
by GlobalData
Enter your details here to receive your free Report.

Supported by $1.8bn in financing from life science investment and property development teams, the TMC³ Phase I comprises 950,000ft³ space dedicated to translational research, anchored by a 700,000ft² facility.

Designed by Elkus Manfredi Architects, the TMC³ master plan involves approximately six million square feet of anticipated development that would support a mix of healthcare, life sciences and business users.

It will comprise the 250,000ft² TMC³ Collaborative Building;  the700,000ft² Industry Research Building; a 521-room hotel, and a 65,000ft² Conference Center.

It will also include a 350-unit residential tower, six future industry and institutional research buildings, a mixed-use building with retail outlets and ample parking, as well as seven acres of public space, including six TMC³ Parks.

Texas Medical Center president and CEO William McKeon said: “TMC³ extends our collaboration to Fortune 100 life sciences companies and entrepreneurial ventures.”

Mayor Sylvester Turner said: “The TMC³ project stands to be the cornerstone of our regional life sciences strategy. It will create new jobs, advance innovative medical technologies and healthcare solutions.”

“In addition, the TMC³ helix parks will create a place for the community to gather and continues to expand our amazing park system. Houston will be among the most competitive cities in the country for life sciences businesses.”

The project would be the largest life sciences campus in the world and will create 19,000 jobs during the construction phase.

Its collaborators include Beacon Capital Partners, Braidwell, Elkus Manfredi Architects, Majestic Realty, Mikyoung Kim, Transwestern Development, University of Texas M.D. Anderson Cancer Center, Texas A&M University Health Science Center, and University of Texas Health Science Center at Houston.

Related Companies

Free Report
img

Internet of Things set to transform the construction industry

The Internet of Things (IoT) is proving hugely beneficial to the construction industry, allowing different assets and people to be monitored and accounted for across a traditionally fragmented industry. As a result, companies that invest in IoT now promise to make long-term gains in the industry. According to GlobalData forecasts, spending on IoT in construction will reach $9.6bn by 2025. For an industry that has large sites to manage, strict project timelines, hazardous working conditions, and tight profit margins, IoT can create a manageable view of construction sites for project managers, streamline operations, and protect workers. In addition, it allows real-time data streams of assets, automates time-consuming tasks, and ensures employee safety and productivity. IoT integration with equipment manufacturing also has rich advantages for asset monitoring sensors. This, combined with artificial intelligence (AI) can help forecast materials and workers needed during the procurement stage and assist in forecast financing. Read GlobalData’s whitepaper to find out more, including information on:
  • IoT value chain
  • Market size and growth forecasts
  • Mergers and acquisitions
  • Leading IoT adopters in construction
  • Specialist IoT vendors in construction
Don’t get left behind – find out how IoT can fortify your operations and make investments now.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Design Build Network