News Release Archive
Media Contact:
|
Memphis Bioworks Foundation Implodes
Two Buildings To Allow More Room for Community Growth
MEMPHIS, Tennessee, May 8, 2005 - The implosion of the eight-story Interns' Residence and 10-story Physicians and Surgeons building today signifies major progress in Memphis Bioworks Foundation's development of the UT-Baptist Research Park, located in the heart of the Memphis medical district.
"We are eager about economic growth and capitalization of Memphis' strengths through growing Memphis into a bioscience leader," said Dr. Steven J. Bares, Executive Director and President of the Memphis Bioworks Foundation. "Baptist's gift of the property is valued at $40 million and has been a key to the realization of the Memphis Bioworks Foundation's dream."
The two buildings were imploded early today at 6:15 am with a crowd of spectators looking on safely from a nearby location. Roads surrounding the UT-Baptist Research Park were closed Sunday morning as part of the security and safety plan.
Built in 1912, the Physicians and Surgeons building totals more than 310,000 square feet, while the 85-year-old Interns' Residence is approximately 40,000 square feet. Chandler Demolition Co., Inc. of Memphis, the contractor hired for this project, began the cleaning out and remediation for the buildings early this year.
Chandler Demolition and its sub-contractors have been dedicated to an accident free project. To date, Chandler Demolition is approaching 35,000 man-hours worked at this site without any recordable accidents. Chandler Demolition opted to demolish these structures by means of implosion rather than conventional methods. Implosion reduces the risk of accident and injury to workers and minimizes the inconvenience to the general public and surrounding area.
Controlled Demolition, Inc. of Phoenix, Maryland, was responsible for the actual implosion and used a carefully calculated amount of explosives to collapse the buildings at key structural points, while allowing gravity to do the rest.
Today's activities marked the second removal of buildings west of the former Baptist Memorial Hospital Medical Center tower, as the first structure removed was the four-story Service building in late January of this year.
"The removal of these buildings is just one phase of constructing the right facilities to accomplish the specific goals of participating organizations and highly specialized tenants which will benefit the Memphis community," said Bares.
This project is funded in part under an agreement with the Tennessee Department of Finance and Administration and the US Department of Commerce, Economic Development Administration.
The demolition and cleanup for the buildings should last through September 2005, while the demolition of Baptist Memorial Hospital's 900,000 square foot main tower will take place in the latter part of 2005.
The completion of the UT-Baptist Research Park is estimated to take ten years and will be completed in six phases. The Foundation is executing a business plan that is leveraging Memphis' unique assets to fulfill the nation's need for an urban biotech research park. When completed, the entire development will provide $250 million in annual salaries for 5,000 new jobs and $2 billion in annual economic impact for researching and developing new therapies to save lives, initiating neighborhood redevelopment and implementing technology and workforce development.
Memphis Bioworks Foundation, a not-for-profit organization, was formed in early 2001 to establish the Memphis region as an internationally recognized center for biomedical technology through education, research, job training and commercialization. Baptist Memorial Health Care donated its property in the Medical Center to the Foundation for the site of its research park, the focal point of the biomedical and economic development. The research park, which will include an incubation program to develop new business in biotechnology, will be the centerpiece of a larger biomedical research and development center.
Live coverage of the event was shown on all Memphis television stations.
