MaRS Selects Alexandria Real Estate Equities to Expand the MaRS Centre in the Discovery District of Toronto



    Ontario Premier McGuinty Lauds Strategic Alliance Between MaRS and Pre-
    Eminent Life Science Property Specialist

    Project to Enhance, Broaden MaRS to Create Canada's Premier Science and
    Technology Cluster

    TORONTO, June 26 /CNW/ - MaRS announced today that it has selected
Alexandria Real Estate Equities, Inc. (NYSE:   ARE), North America's
pre-eminent, first-in-class and largest life science property specialist, as
the development partner for an iconic new building which will anchor the
city's biomedical corridor in the Discovery District of Toronto. To be
developed on a prominent street corner in Toronto at University Avenue and
College Street, the building is adjacent to the seat of the provincial
government, cultural and financial districts, and world-class academic and
clinical research institutions. In this exceptional location, Alexandria will
apply its renowned expertise in developing clusters, including its proprietary
programmatic elements, to strengthen Toronto's growing life science and
technology cluster centered in the Discovery District. The influence and
impact of MaRS on the local community, greater Ontario and Canada will grow
exponentially through the strategic alliance with Alexandria.
    The planned class A, high rise advanced technology building will add up
to approximately 900,000 square feet of state-of-the-art office, laboratory,
technology and related space to the existing MaRS infrastructure and will
include an extension of the soaring atrium at MaRS - a prized location for
arts, science and internationally acclaimed collaboration events since its
opening in late 2005. The building will offer Alexandria's unique range of
state-of-the-art facilities and proprietary products and services designed to
foster the continued development of the broad and diverse life science and
technology sectors. This multi-occupancy building will include highly flexible
and adaptable space for both emerging and more established companies and
institutions spanning the life science and technology domains. Plans call for
a direct connection to the subway and a showpiece "front room" as the gateway
to the city's Discovery District. Construction is anticipated to commence
during the second half of 2007.
    "MaRS is our gateway to innovation in Ontario, our calling card to the
world as a leading example of innovation," said Ontario Premier Dalton
McGuinty. "Our government is committed to research and innovation. Ontario's
ability to innovate, to be first out of the gate with a new idea, and our
ability to turn ideas into products will make Ontario a leader in the 21st
century global economy."
    "This is a special day for life on MaRS!" said Dr. John Evans, MaRS
Founder and Chair. "The private-public partnership to promote
commercialization of discoveries launched seven years ago is now in operation
as a dynamic network based on co-location and convergence of business, science
and venture capital. As North America's leading developer of science
buildings, Alexandria's commitment is a powerful validation of the MaRS
Vision. On behalf of the MaRS Board, I wish to thank all those who made
possible MaRS Phase I and Alexandria for moving us to Phase II."
    "MaRS is an outstanding facility and this expansion will have lasting
benefits for people here in the GTA and across Canada," said Jim Flaherty,
Canada's Minister of Finance and Minister Responsible for the Greater Toronto
Area (GTA). "Our government understands the far-reaching implications of
science and technology discoveries and applications, and the endless
possibilities they provide: greater educational and professional
opportunities, greater prosperity for individuals and families, and healthier
communities."
    Alexandria, with its global reach and unparalleled reputation, is
especially well positioned to enhance the vision of MaRS to create powerful
networks that will meaningfully connect the leadership of Canada's scientific,
business, investment and cultural communities to their international peers.
    "We are honored and truly pleased to have been selected by MaRS to build
upon and extend its groundbreaking vision for integration, innovation and
collaboration," commented Alexandria's President, James H. Richardson. "This
vision is complementary with Alexandria's cluster development formula
combining rich, deep science and talent with broad capital resources in
premier locations. There are very few locations that have the concentration of
world-class research and engines for innovation that are resident within such
immediate proximity. Anchored by the University of Toronto, The Hospital for
Sick Children, University Health Network, Mount Sinai Hospital, The Ontario
Institute for Cancer Research and many other prestigious institutions and
commercial enterprises, Toronto is establishing itself as a real force and
important international hub in the life science and technology sectors. We
look forward to working alongside this community in an effort to further build
MaRS' and Ontario's presence on the international stage."
    Joel S. Marcus, Chief Executive Officer of Alexandria, noted: "Alexandria
continues to expand its business internationally and our strategic alliance
with MaRS marks further globalization of the company's business model. At
Alexandria we have leveraged our expertise to successfully develop and pioneer
life science clusters in numerous markets around the world, applying our
strategy of building in communities that possess prestigious academic and
medical institutions, a skilled workforce and a strong financial community.
Toronto is no exception in this regard and we look forward to expanding on the
current infrastructure that is in place, bringing our experience, proprietary
products, services and our deep relationships within the scientific, business
and financial communities to help MaRS become Canada's foremost centre for
life science and technology innovation."
    The Phase II development will build on MaRS' growing success stimulating
and harnessing the commercial potential of science and technology innovation -
in life sciences, advanced information and communications technologies, clean
technologies, and materials sciences - that flows from the province's
entrepreneurs, universities, hospitals and research institutes. Designed by
Toronto-based Bregman + Hamann Architects, the building's high level of design
responds to its critical importance as the gateway to Toronto's Discovery
District and University Avenue corridor with an architectural vocabulary
expressive of innovation and engagement. Combining a dynamic application of
both reflective and transparent materials, exterior features include vertical
glass fins inspired by optical magnetic imaging and nanotechnology that add
modern texture while a lattice of terracotta at the podium level pay homage to
the MaRS heritage building. In addition to providing state-of-the-art lab and
office space, MaRS Phase II will also interact with the public with a "Jewel
Box" exhibition space at the corner of University and College, as well as an
urban plaza revitalizing University Avenue with a vital streetscape of
landscaping, retail and cafés.
    "Projects like this one are further evidence of the architectural
renaissance that is taking place in Toronto," said Toronto Mayor David Miller.
"But more than that, it's a display of the trust that companies have in our
city as a place to invest and bring high quality knowledge-based jobs, which
is what makes us North America's third largest biotech centre."
    MaRS is focused on helping Canada's scientific and technological
innovators turn great ideas into great companies - and supporting those
companies as they become global market leaders. Since its inception in 2005,
MaRS' Venture Group - a team of entrepreneurs, investment and business
specialists - has worked with more than 200 emerging companies to further
their market success across a range of sectors. With more than 65 tenant
organizations onsite, and a strong network of partners across Ontario, MaRS
also offers a suite of educational programs, networking events and symposia
designed to improve commercialization outcomes.
    "While this new development will double the size of MaRS' existing space
and contribute a signature landmark to the cityscape, this project is about so
much more than glass and steel," said Dr. Ilse Treurnicht, Chief Executive
Officer of MaRS. "With a global partner like Alexandria coming to Canada,
Phase II marks a new era for MaRS and the region's technology community on the
world stage."

    About MaRS

    MaRS (www.marsdd.com) is a non-profit organization focused on maximizing
the economic and social impact of Canadian innovation. MaRS was founded in
2000 by leaders from the private and public sectors in order to improve
commercial outcomes from Canada's strong foundation of science and technology
innovation. MaRS connects and fosters collaboration between the communities of
science, business and capital through co-location in the MaRS Centre and more
broadly through catalytic programs, structured networks and the MaRS web
portal. The MaRS Centre opened in 2005.

    About Alexandria Real Estate Equities, Inc.

    Alexandria Real Estate Equities, Inc., Landlord and Developer of Choice
to the Life Science Industry(R), is a publicly-traded real estate investment
trust focused principally on the ownership, operation, management, selective
redevelopment, development and acquisition of properties for the broad and
diverse life science industry. Its properties are designed and improved for
lease primarily to institutional (universities and independent not-for-profit
institutions), pharmaceutical, biotechnology, medical device, life science
product, service and translational medicine entities, as well as governmental
agencies.





For further information:

For further information: For MaRS: Linda Quattrin, (416) 673-8104,
lquattrin@marsdd.com; For Alexandria Real Estate Equities, Inc.: Judith
Sylk-Siegel, Rx Communications Group, (917) 322-2164, jsylksiegel@rxir.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890