anchor Description
The Institute for Health Computing (IHC) building will be the anchor building for the planned mixed use, life science and tech-based development of the (approximately) 14 acre WMATA property at the North Bethesda Metro. The building is expected to be at least 200,000 to 250,000 square feet of space, with the UM IHC as the anchor tenant. The IHC was established in FY23 under an MOU among the County, the University of Maryland College Park (UMD), the University of Maryland Baltimore (UMB) and the University of Maryland Medical System (UMMS). The County and the University of Maryland (UM) institutions noted have each committed funding or valuable proprietary and confidential health care databases to make the IHC a premier draw for life science and tech companies from the private sector to North Bethesda. The master developer for the entire site is Hines, which depending on continuing design discussions, would retain ownership of either a part of the planned building or would build an adjacent building in order to recruit and lease space to life science and other tech innovation tenants to the site. The IHC building will occupy the northwest corner of the WMATA property at the North Bethesda Metro, above the planned new north entrance to the North Bethesda Metro. The expectation is that WMATA will retain a ground lease for the station property itself, with the building being separately owned above the station, as has the been the practice for WMATA in Washington, D.C. and elsewhere on the Metro system.
anchorEstimated Schedule
The building construction schedule is planned for FY29 through FY31, to closely follow the planned construction schedule of the new north entrance to the North Bethesda Metro Station. Design of the two projects will be coordinated to the extent possible to minimize costs. The funding of the new north entrance is separately funded with Federal, State, and local funding.
anchor Justification
The North Bethesda Metro Property has for many years been envisioned as the centerpiece for the creation of a new Life Science and Technology business hub for the County. The property is the largest remaining undeveloped parcel on the Metro system and is located strategically between NIH, FDA, and the County's Shady Grove Life Science Hub. The County contributed to the establishment of the IHC, and the institute now has over 130 employees with continuing expansions of employment in process. In addition to the employees of the institute itself, the IHC researchers and experts, along with its high-speed computational assets, are expected to draw additional life science and tech companies to the County. Finally, the universities have committed to seek a match for the proposed $50 million County commitment to the building with a $100 million capital commitment of University/State funds, similar to the arrangement the Universities have used in the past for buildings funded with major philanthropic gifts.
anchorDisclosures
A pedestrian impact analysis will be performed during design or is in progress.
anchorCoordination
University of Maryland Institute for Health Computing, University of Maryland College Park, University of Maryland Baltimore, and Hines.