Detroit’s TechTown plans to finish the build-out of its Tech One building after landing additional federal funding.
Randal Charlton, TechTown executive director, and Wayne County Executive Robert Ficano on Friday plan to announce an award of $4.1 million from the U.S. Department of Housing and Urban Development. The funding will allow the tech park and incubator to finish the last 16,000 square feet at Tech One on Burroughs.
Charlton said the award will be used to expand the Great Lakes Stem Cell Commercialization Center and finish the rest of the build out on the second floor of the 100,000-square-foot building. That building will accommodate at least some of those on the waiting list for occupancy at the tech park and incubator.
TechTown currently has 229 tenants.
“This allows us to finish Tech One, and now it’s time to put the accelerator down to finish Tech Two,” said Charlton, referring to the former Dalgleish Cadillac building around the corner on Cass.
The county was first notified in August 2009 that a grant request had been approved, but the paperwork and formal process for proceeding took longer than expected.
Originally, TechTown officials hoped to use the grant — $2 million of it as an outright gift and $2.1 million as a loan guaranteed by Wayne State University — to build out the stem cell center in time for last October’sWorld Stem Cell Summit in Detroit.
Instead, TechTown used other funds to open the center.
Charlton said some of the remaining space in Tech One may also go to current tenants that need to expand.