Pitt’s Innovation Hub at 5000 Baum Advances
PITTSBURGH—The transformation of a historic building into a hub for the Immune Transplant and Therapy Center (ITTC) to advance research, innovation and health care moved ahead with today’s action by the Property and Facilities Committee of the University of Pittsburgh Board of Trustees.
The committee, in a public meeting, approved the University’s continued efforts to purchase the 5000 Baum Blvd. site from UPMC for $25 million in addition to authorizing senior management to continue working with Wexford Science & Technology LLC to develop the property in two phases. The first phase of 5000 Baum is expected to open in 2020 with an investment of approximately $250 million by Pitt in partnership with Wexford.
“This initiative is rooted in a partnership among Pitt, UPMC and the business community,” said Pitt Senior Vice Chancellor for Business and Operations Greg Scott. “Together, we are creating an ecosystem that will enable us to tackle some of medicine’s greatest challenges while advancing the University of Pittsburgh’s long legacy of leveraging knowledge for society’s gain.”
The historic eight-story, 215,000-square-foot building is located at the corner of Baum Boulevard and Morewood Avenue in the Bloomfield neighborhood.
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