The nonprofit public-private partnership East Baltimore Development Inc. presented to city officials Thursday plans for a new 170,00 square-foot, six-story lab building for approximately $60 million on the corner of Ashland and Rutland avenues, part of the Science + Technology Park at Johns Hopkins.
Pending approval, construction on the building is set to begin in late 2014, which includes a possible retail tenant on the ground floor. Lease negotiations are expected to wrap up within a month, EBDI said, but declined to name the tenant.
The schematic design for the building was approved by the Urban Design and Architectural Review Panel with comments, meaning EBDI must make some revisions and present again before beginning construction.
"The purpose of the new building is to support emerging companies, new innovation companies in East Baltimore," said Scott Levitan, development director for the group. "That's been a really big demand generator for space."