With its nearly 650 employees into Phase I of its headquarters expansion in Virginia BioTechnology Research Park, Health Diagnostic Laboratory, Inc. (HDL, Inc.) has begun construction on Phase II of the 283,000-square-foot complex. Phase II will be a mirror image of Phase I, and when completed in April 2014 will contain 95,000 additional square feet of office and wet laboratory space.
“It is our mission to prevent and reverse heart disease and related diseases, and this real estate expansion is allowing us to do so as a team in a values-based, innovative environment in downtown Richmond,” said Tonya Mallory, HDL, Inc.’s CEO, President and Co-Founder.
When complete, HDL, Inc.’s offices and laboratories will encompass 283,000 square feet (approximately five football fields) and hold an additional 400 employees. Features of the headquarters include a rooftop park and green space, a 24/7 gym for employees, and the building’s atrium, which will eventually contain spiral slides connecting the sixth, fifth, and fourth floors. The real estate is valued at roughly $80 million, and with equipment costs HDL, Inc.’s total investment in the biotech park will reach more than $100 million.
“Few believed that the research park could grow to become such an economic powerhouse when it was first launched 20 years ago. It has put Virginia on the map in biotechnology and the life sciences, and is helping us to compete globally to attract and grow this important sector of our region’s economy,” said Robert T. Skunda, President and CEO of the Virginia BioTechnology Research Park.
The Lingerfelt Companies, a Richmond-based developer, has been involved with the project since its inception. “Since partnering with HDL in 2009, it has been a fast-paced development cycle and we are pleased to assist HDL in its expansion. HDL is a significant complement to our growing healthcare development portfolio,” Lingerfelt Companies Principal Ryan Lingerfelt said. “This project is a prime example of how a growing healthcare provider, coupled with resources and development talents, comes together to benefit our community and many others worldwide.”