The Texas Research and Technology Foundation plans to build about 680,000 square feet of...
has invested about $60 million converting the Merchants Ice complex on East Houston Street into 140,000 square feet of lab and office space for bioscience tenants, according to a City Council memo.about $5.7 million via reimbursements for infrastructure and a grant in 2019Tenants include gene-therapy company Scorpion Biological Services, therapeutics firm GenCure and startups, which together have created about 200 jobs, said President and Chief Operating Officer Rene Dominguez.Nonprofit buys G.
The foundation plans six buildings with about 680,000 square feet of offices, labs and retail and commercial space at the site, which has been vacant since the state razed the Sutton structure in 2019. The $8.5 million package approved Thursday by council members includes reimbursable funds for those upgrades, fee waivers and job creation incentives. The job incentives are tied to the tenants being recruited and their projects would need council approval, a city spokesperson said.
The Sutton project is expected to generate 2,444 jobs on-site, another 3,071 indirect and induced jobs and $1.8 billion in annual economic impact when built out, according to an analysis by Economic & Planning Systems Inc. commissioned by TRTF.
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