Construction To Begin on First Office Buildings in the South Jefferson Redevelopment Area

Carilion Biomedical Institute, Carilion Consolidated Laboratory and other high-tech companies already on the tenant list

ROANOKE Va. (June 7, 2005) Construction is scheduled to begin this summer and fall on the first two office buildings in the South Jefferson Redevelopment Area. The project, a joint effort involving the City of Roanoke, Roanoke Redevelopment and Housing Authority and Carilion Health System, is aimed at redeveloping an industrial “brownfield” along the Roanoke River into a vibrant and attractive business and technology park.

Carilion will develop a 27-acre business park within the redevelopment area called the Riverside Corporate Centre. RRHA purchased and assembled the land, relocated the businesses previously situated there and cleared the land with funds provided by the City.

The first tenant of the Riverside Center's first building and central to the region’s ongoing efforts to build a biomedical platform will be the Carilion Biomedical Institute. CBI, which is a collaborative effort with Carilion Health System, the University of Virginia, and Virginia Tech, started almost six years ago.

CBI capitalizes on the region’s impressive research assets at the two universities to commercialize viable products and services resulting from promising research and development. CBI also works with inventors, entrepreneurs and early stage companies to build a biomedical community and to create local economic development in central and southwest Virginia. Two companies recruited to Roanoke through CBI will also be among the building’s first tenants, American Biosystems, Inc and Medical Enzymatics, LLC.

The second building, scheduled to begin construction in the fall, will house Carilion Consolidated Laboratory. When finished, the site will contain eight buildings with a total of 1.1 million square feet of space, along with three parking structures.

"These buildings are in important milestone in Carilion’s ongoing effort to foster improved healthcare, healthcare technology and economic development in the City,” said Carilion health System President and CEO Edward G. Murphy, MD. “Our collaboration with the City and RRHA and the continuing efforts of CBI have given us this important foothold and the momentum we need to move forward.”

"This is a day we have been anticipating for five years,” said City Manager Darlene L. Burcham. “The project represents the revitalization of a part of our community as well as our dedication to economic development in Roanoke." John Baker, executive director of the RRHA, sees the groundbreaking as just the beginning of a bright future for the Valley. “It is rewarding to participate in such a satisfying project. We appreciate the cooperation from the City, Carilion and business and property owners in the area.”

The construction and development team includes Skanska, USA and J.M. Turner and Company– General Contracting Team; Hayes, Seay, Mattern and Mattern – Architecture and Engineering; Hall and Associates – Marketing and Property Management. Carilion Biomedical Institute will play a continuing role in recruiting potential tenants.

Businesses and developers interested in more information about available space in the Riverside Corporate Centre should contact Curtis Mills at 540-981-7204.

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Carilion Health System  (www.carilion.com) is a $1 billion healthcare company serving approximately 1 million people in Western Virginia. Carilion is a comprehensive, integrated system employing more than 9000 people at 8 not-for-profit hospitals and 60 physician practices and primary care centers. As part of its mission to improve the health of the communities it serves, Carilion operates the region’s only level 1 trauma center, air ambulance and neo-natal intensive care program, along with a full service cancer center and regional heart center.

Carilion Biomedical Institute (CBI) (www.biomedicalinstitute.org) is dedicated to improving the health and lives of people worldwide by partnering with scientists, researchers, and the medical and business communities to create major advances in healthcare. CBI fosters biomedical research at the University of Virginia and Virginia Tech and brings promising technologies to market through rigorous medical, financial, operational and market analysis. CBI also connects early-stage companies to venture capital, strategic real estate, management talent, manufacturing partners and healthcare customers. Start-up biomedical companies, entrepreneurs and inventors with a business plan or biomedical concept that are interested in working with CBI should contact the Carilion Biomedical Institute at biomedicalinstitute.com

The City of Roanoke, Virginia (www.roanokeva.gov) is the center of one of Virginia's largest metropolitan regions, and a hub of transportation, finance, and industry for the southwestern part of the state. The scenic beauty of the Roanoke Valley, located between the Blue Ridge and the Allegheny Highlands, makes the city a pleasant as well as an economically diverse place to live and work. The city's position on the East Coast gives it ready access to close to two-thirds of the total population of the nation within a radius of 500 milesis the center of one of Virginia's largest metropolitan regions, and a hub of transportation, finance, and industry for the southwestern part of the state. The scenic beauty of the Roanoke Valley, located between the Blue Ridge and the Allegheny Highlands, makes the city a pleasant as well as an economically diverse place to live and work. The city's position on the East Coast gives it ready access to close to two-thirds of the total population of the nation within a radius of 500 miles.

Roanoke Redevelopment and Housing Authority (www.iamrrha.org) was established in 1949. RRHA provides housing and homeownership opportunities for low and moderate-income persons and plays a significant role in redevelopment projects that foster economic development and job opportunities. RRHA takes a leadership role in providing programs and resources for residents that promote and encourage self-sufficiency, self-esteem and self-determination. ">www.iamrrha.org was established in 1949. RRHA provides housing and homeownership opportunities for low and moderate-income persons and plays a significant role in redevelopment projects that foster economic development and job opportunities. RRHA takes a leadership role in providing programs and resources for residents that promote and encourage self-sufficiency, self-esteem and self-determination.

American Biosystems,Inc (www.americanbiosystems.com) produces and markets enzyme based products for industrial and bio-medical cleaning applications, waste bio-remediation and, animal feed ingredients. The move to the Riverside Center offers the company the opportunity to improve research and quality control capabilities in an environment with other development stage bio-medical companies. The company was founded by Dr.Lewis E. Goyette in 1991 and is currently managed by his son, Edward from their offices in the New Century Venture Center and CBI in downtown Roanoke.

Medical Enzymatics, LLC is a vibrant new company dedicated to creating a cleaner and safer medical environment. style="mso-The company is currently developing a cost effective, efficient and powerful enzyme in an innovative format for the pre-sterilization of medical equipment. Medical Enzymatics’ products also have application in other industries requiring sterilization, cleaning or containment of waste and hazardous matter. The company is located in Roanoke, a burgeoning biomedical technology city in southwest Virginia.