the research triangle park: briefing
DESCRIPTION
The Research Triangle Park: Briefing. Transforming the Region’s Economy. RTP was founded in 1959 by business, government and academic leaders to stem the “brain drain” and shift the agricultural, manufacturing and government economy to a research and technology focus . It was a BIG BET! - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/1.jpg)
The Research Triangle Park: Briefing
![Page 2: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/2.jpg)
Transforming the Region’s Economy
RTP was founded in 1959 by business, government and academic leaders to stem the “brain drain” and shift the agricultural, manufacturing and government economy to a research and technology focus.It was a BIG BET!The Research Triangle Foundation (RTF) is the non-profit entity responsible for the management, development and relationships within RTP.
2
![Page 3: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/3.jpg)
5
How has that ‘Big Bet’ and the commitment of the Triangle Region paid off?
![Page 4: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/4.jpg)
Educational Attainment & Connectivity 45.9% College Degree 23.3% Bachelor 14.2% Graduate/Professional
Three tier one research universities
Two nationally ranked business schools
Two nationally ranked engineering schools
Nine other colleges and universities and seven technical community colleges
150,000+ students (university/community college) 24,000+ bachelor degrees or higher earned a year
We are extremely smart and well connected…
![Page 5: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/5.jpg)
RTP TODAY
![Page 6: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/6.jpg)
12
RTP TodayScale7,000 acres (2,833 hectares) research parkUniversity Connections• Duke University• North Carolina State University• UNC - Chapel Hill
Critical Mass• 170+ world-class firms employ 40,000 full-time
workers • 22.5 million ft2 of developed space• 26 Multi-tenant buildings• 4 Office/Lab IncubatorsImpact• $2.8 billion in capital investment• $2.91 billion annual payroll
![Page 7: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/7.jpg)
40%
21%
14%
9%8%
4% 2% 2% Life SciencesInformation TechnologyBusiness and Professional ServicesScientific Associations, Founda-tions, and InstitutesMaterial Sciences and EngineeringRetail Amenities and Service ProvidersEnvironmental SciencesFinancial and Insurance Activities
DIVERSE PORTFOLIO
![Page 8: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/8.jpg)
14
1996 2011over 5000 2 11000-5000 3 9500-1000 5 5250-499 7 9less than 250 93 151not reported 18 N/ATotal 128 175
Number of Employees
RTP COMPANY MIXLARGE AND SMALL
![Page 9: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/9.jpg)
151515
Park Research Center• 13-building campus • 75,000 ft2 of office/lab space
First Flight Venture Center• Established in 1991• 16,000 ft2 of office/lab space• >150 graduates
Hamner Institutes for Health Sciences• 150,000 ft2 facility • Planned buildout of 1,000,000+ ft2
NURTURING NEW COMPANIESOver 1,800 start-ups have been created by RTP companies & the three research universities since 1970
Alexandria Innovation Center• Owned and managed by Alexandria Real Estate Equities, Inc.• 150,000 ft2 campus
![Page 10: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/10.jpg)
• 16 miles of jogging/pedestrian trails
• 4 softball diamonds (spring/summer leagues)
• 12 volleyball courts (9 grass and 3 sand)
• 2 miles of mountain biking trails
RECREATIONAL AMENITIES
![Page 11: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/11.jpg)
LOCATING IN RTP
![Page 12: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/12.jpg)
18
Project Opportunities & Challenges
Building Sites Remaining - Site Acerages12-100s
Leased space (Mulit/Single Tenant)
Entrepreneurial/Start-up Space
Redevelopment Phase 1
![Page 13: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/13.jpg)
19
Sites ranging from 12 acres to 100+ acres
$125,000/AC - $175,000/AC
Sources: North Carolina State Demographics (2000, 2005), U.S. Census American Community Survey (2000, 2005), Employment Security Commission of North Carolina (2006)
GREENFIELD DEVELOPMENT
![Page 14: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/14.jpg)
20
RTP CovenantsUpdated March 2013
»Control uses»Allow certain manufacturing activity with high degree of
scientific input (determined by percent of employees in technical, professional and kindred classifications, by industry)
»Establish Board of Design»Grant Right of First Refusal to repurchase property for
resale»Establish Owners & Tenants Association and association
voting rights»Property taxes are only paid to the county. RTP cannot be
annexed into surrounding municipalities
![Page 15: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/15.jpg)
21
Multi-tenant Buildings / Developments• Research Commons
• Park Center
• Progress Center
• One Park Drive
Buildings on Individual Sites• 7001 Development Drive (205,310 SF)
• 8001 Development Drive (262,000 SF)
RTP Area Average Pricing Details• Class A Office - $18 – $22 sqft Full-Service
• Manufacturing: $8 - $12 sqft NNN
Sources: North Carolina State Demographics (2000, 2005), U.S. Census American Community Survey (2000, 2005), Employment Security Commission of North Carolina (2006)
LEASED SPACE
![Page 16: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/16.jpg)
RTP Redevelopment
![Page 17: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/17.jpg)
BUILD A TRANSFORMATIVE VISION FOR THE FUTURE
Beukenhorst (Park 2020) – The Netherlands
![Page 18: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/18.jpg)
Retain Existing Tenants
Attract Broader Range
of Tenants
Continue to Attract Large Companies
MARKET OBJECTIVESThe goal of the Master Plan is to create an environment that will allow RTP to continue to be an economic driver for the innovation economy.
This goal will be achieved by maintaining the Park’s attractiveness to existing tenants and owners, facilitating opportunities for existing companies to expand on site, and broadening the Park’s appeal to additional types of companies, including those not historically found at RTP.
![Page 19: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/19.jpg)
25
Realizing the Plan
•Input from Park companies and the community
•Multiple projects phased over time
•Regulatory updates & use changes
•Collaboration with partners: owners, universities, government, developers
![Page 20: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/20.jpg)
27
Mixed-Use Center
Park Center
Research Cluster
Development Clusters
![Page 21: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/21.jpg)
28 28
Development Clusters: Mixed-Use Center
Research is the core land use
Mix of retail, residential, hotel and education
Shared Open Spaces
![Page 22: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/22.jpg)
29 29
Development Clusters: Mixed-Use Center
![Page 23: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/23.jpg)
30
Mixed-Use Center
Park Center
Research Cluster
Development Clusters
![Page 24: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/24.jpg)
31 31
Development Clusters: Park Center
Business support cluster
Regenerate and renew Increase intensity Restore natural
systems
![Page 25: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/25.jpg)
32 32
Development Clusters: Park Center
![Page 26: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/26.jpg)
33
Mixed-Use Center
Park Center
Research Cluster
Development Clusters
![Page 27: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/27.jpg)
34 34
Development Clusters: Research Cluster
Research focus Amenity core Increase intensity
through infill Integrate natural
systems
![Page 28: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/28.jpg)
35 35
Development Clusters: Research Cluster
![Page 29: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/29.jpg)
36
Make RTP Land More Productive
Current Capacity Master Plan Capacity
Research & Office Space
26M sf 84M sf
Jobs ~ 45,000 ~ 150,000
Zoning for Infill Development
![Page 30: The Research Triangle Park: Briefing](https://reader035.vdocuments.mx/reader035/viewer/2022062501/56816854550346895dde6986/html5/thumbnails/30.jpg)
THE RESEARCH TRIANGLE FOUNDATION OF NC @TheRTP
919.549.8181
Bob GeolasPresident & CEOResearch Triangle [email protected]@BobGeolas - Twitter
Mason AilstockVice President of Business
DevelopmentResearch Triangle [email protected]@MasonAilstock - Twitter