New York City’s quest for more life science labs will spur biotech building, says developer Joe Simone

Joe Simone Bronx, N.Y. (February 16, 2023)—New York City’s aggressive push to build 10 million square feet of new life sciences laboratories will create new development opportunities, said Joseph Simone of Simone Development Companies.

“New York City announced in January that it will invest $20 million for the creation of a biotech hub at the Brooklyn Navy Yard, which is the latest in a series of investments throughout the outer boroughs that will bring development and new jobs to neighborhoods primed for revitalization,” said Joe Simone, president of Simone Development Companies.

New York City’s investment at the Brooklyn Navy Yard and other locations outside of Manhattan reflects a shift to neighborhood-based economic development. In the Bronx neighborhood of Morris Park, New York City has deployed this strategy by investing in an innovation lab for early-stage life science startups at the Albert Einstein College of Medicine, which sits across the street from Simone Development Companies’ Hutchinson Metro Center.

“We want it in Morris Park, where there is a new rezoning around…Jacobi (Medical Center) and Albert Einstein and a real opportunity to create good-paying jobs closer to where people live,” said Andrew Kimball, president and CEO of the New York City Economic Development Corporation, in a recent appearance on Spectrum News NY1’s “Inside City Hall” program.

The rezoning of parts of Morris Park near a future Metro-North train station allows for greater housing density, laboratories and other land uses that promote the growth of biotech hubs.

Simone Development Companies envisions life sciences and residential components to its Hutchinson Metro Center. A 33-acre expansion to the existing 42-acre Hutchinson Metro Center campus will sit next to the future Metro-North train station, providing easy access to Manhattan and other life science hubs.

“New York City has invested in life sciences for about 25 years, allowing the region to compete with Boston and the San Francisco Bay Area in terms of creating new jobs and attracting companies. Simone Development Companies wants to help New York City officials achieve their transformational goals for the Morris Park neighborhood of the Bronx,” said Danielle Contillo, a principal at Simone Development Companies.

Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail, and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.

2023-02-16T11:52:42-05:00February 16, 2023|
Read More

Joseph Simone Calls New York’s Workforce Development Essential for Life Sciences Real Estate Growth

New York’s planned investments in life science workforce training centers will help stimulate real estate development, said Joseph Simone of Simone Development Companies.

“New York is successfully attracting life science startups. The challenge now is to build talent pipelines to train the necessary workforce that will enable the state to achieve its employment goals,” said Joe Simone, President of Simone Development Companies. “State investments in the New York City regional workforce development plan ensure that growing life science companies seeking real estate in the tri-state area will find the right workers to fill new laboratories and facilities.”

The Long Island Investment Fund recently announced its intention to fund a life science workforce development training center. One of the fund’s goals is to supercharge the life sciences ecosystem in the region by developing workers with in-demand skills.

LifeSci NYC has a similar role in the five boroughs, and one target area is in the Bronx at the Montefiore-Einstein Accelerated Biotechnology Research Center (EMBARC), located across the street from Simone Development Companies’ Hutchinson Metro Center. EMBARC is a biomanufacturing operation focused on cell, gene, and antibody production. LifeSci NYC will invest $20 million to build a diverse pipeline of life sciences talent.

Simone Development Companies has anticipated growth in Morris Park’s biotech talent pool by planning for a live-work-play environment at the Hutchinson Metro Center, a mixed-use medical-office complex where future construction may include life science labs, housing, and destination retail catering to the employees of companies that grow out of EMBARC. This emerging innovation hub will be connected to New York City’s life sciences network by Metro-North’s future Morris Park train station, which will provide quick access to Penn Station in Manhattan.

“Since 2018, biotech research and development companies have increased employment by more than 8,000 people in the New York City metro area, an almost 20 percent increase. “Industry leaders say this growth will continue, and our Hutchinson Metro Center is well positioned to meet the increased demand for real estate that can accommodate life science facilities and workers,” said Megan Guy, Simone Development Companies’ Senior Vice President of Development.

Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail, and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.

2023-02-02T09:34:36-05:00February 2, 2023|
Read More

Construction and Leasing Executives Join Simone Development Compaines

BRONX, NY (January 9, 2023) – Simone Development Companies has appointed two real estate industry veterans to senior positions in its construction and leasing departments.

Roger Merriman is Simone Development’s new Senior Vice President of Construction and Jeremy Schwartz is Director of Leasing. These executives possess years of experience in the real estate industry and have worked with leading real estate companies in the tristate area.

“Roger and Jeremy bring impressive backgrounds and skills to the Simone team in the realms of construction management, leasing, property marketing, underwriting and property portfolio management,” said Joseph Simone, President of Simone Development Companies. “Both of these individuals will help us strategically position ourselves for future growth as we build our operational capacity and scalability.”

Prior to joining Simone Development, Merriman served as Vice President of Construction at SL Green Realty Corp., where he managed a team of professionals, consultants, and contractors on construction projects for the largest commercial real estate portfolio in New York City.

Schwartz formerly worked as Assistant Vice President of Leasing at Urstadt Biddle Properties, where he successfully transacted on more than 300,000 square feet of space. He also managed the leasing and marketing of over 1,500,000 square feet of grocery-anchored shopping centers and office buildings throughout the tristate area.

About Simone Development Companies
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.

2023-01-09T09:45:16-05:00January 9, 2023|
Read More

Joseph Simone Says New Report Confirms Growth in Urgent Care Through 2020s

Joseph Simone, President of Simone Development Companies, said that a new analysis of the urgent care sector predicting continued growth through 2029 will lead to more investments in real estate.

“According to Data Bridge Market Research, the urgent care market will experience a compound annual growth rate of 5.35% between 2022 and 2029, which translates to a continued push to redevelop outdated retail into urgent care, along with new construction,” said Joe Simone.

The research firm noted that the increasing incidence of sports-related injuries, reduced waiting times, and growing awareness about urgent-care centers are expected to expand the market.

Simone Healthcare Development, an affiliate of Simone Development Companies, is an active participant in the growth of the urgent care sector in the New York City metro area. The company recently broke ground on a redevelopment of a 63,000-square-foot retail store for the creation of the Catholic Health Ambulatory & Urgent Care facility in Centereach, New York.

The Catholic Health center is a new multi-specialty practice featuring primary care, women’s health, behavioral health, cardiology, neurosciences, orthopedics, and several other services. The site is located at 2112 Middle Country Road, and it is expected to open in the spring of 2023.

Simone Healthcare Development acquired part of the building from Ocean State Job Lot, the largest closeout retailer in the Northeast. The company recently vacated the building and is opening a new 36,000-square-foot store on the eastern portion of the 10.4-acre property.

“The rise of online shopping means that some retailers are downsizing their footprints. This restructuring opens opportunities for providers like Catholic Health to deliver their services in consumer-friendly shopping centers that are established destinations,” said Joanna Simone, Principal and President of Leasing and Property Management operations at Simone Development Companies.

Simone Development Companies is a fully integrated private real estate investment and development company that acquires and develops healthcare, mixed-use, office, industrial, retail and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its creatively oriented management team, long-term asset ownership and its pursuit of visionary development.

2022-07-08T13:28:39-04:00July 11, 2022|
Read More

Simone Healthcare Development and Catholic Health Break Ground for New Ambulatory & Urgent Care Center

CENTEREACH, NY (June 13, 2022) – Simone Healthcare Development, Catholic Health and Ocean State Job Lot today joined with officials from the Town of Brookhaven and Suffolk County for a groundbreaking ceremony signifying the official start of construction by Simone Healthcare Development for Catholic Health Ambulatory & Urgent Care at Centereach, a new multi-specialty practice featuring primary care, women’s health, behavioral health, cardiology, neurosciences, orthopedics and several other services.

The development will transform a 63,000-square-foot retail store located at 2112 Middle Country Road into a new healthcare facility. Catholic Health will lease the new building from Simone and plans to open in the Spring of 2023.

Simone Healthcare Development, an affiliate of Simone Development Companies, is acquiring part of the building from Ocean State Job Lot, the largest closeout retailer in the Northeast. The company recently vacated the building and is opening a new 36,000-square-foot store on the eastern portion of the 10.4-acre property.

“We are extremely pleased to begin construction at this property. It has been an intricate process to work through the business and approval issues, but worth all of the effort to bring Catholic Health to Centereach,” said Joseph Simone, President, Simone Development Companies.

“Catholic Health is a dynamic and expanding network of integrated hospitals, physicians and outpatient care centers,” said Catholic Health President & CEO Patrick O’Shaughnessy, DO, MBA. “Our delivery of exceptional medical and surgical treatments is infused with a heavy dose of compassion and empathy. As we expand our services, with sites such as Catholic Health Ambulatory & Urgent Care at Centereach, our strategic objective is to be the most trusted health care system on Long Island.”

Catholic Health Ambulatory & Urgent Care at Centereach is the latest example of how Simone Healthcare Development, a leader in medical office and ambulatory care facility development, is revitalizing underutilized assets into modern healthcare centers. In Yonkers, NY, Simone transformed an abandoned historic building into the Boyce Thompson Center, an innovative 85,000-square-foot complex featuring medical offices and retails shops. Additionally, in Purchase, NY, Simone renovated and expanded a former executive office complex into the Purchase Professional Park, a four-building campus comprising 220,000 square feet of medical and office space in the heart of Westchester’s “Medical Mile”.

About Simone Development Companies

Simone Development Companies is a fully integrated private real estate investment and development company that acquires and develops healthcare, mixed-use, office, industrial, retail and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its creatively oriented management team, long-term asset ownership and its pursuit of visionary development.

 

About Catholic Health

Catholic Health is an integrated system encompassing some of the region’s finest health and human services agencies. The health system has 16,000 employees, six acute care hospitals, three nursing homes, a home health service, hospice and a network of physician practices.

2022-06-14T11:27:59-04:00June 14, 2022|
Read More

Joseph Simone of Simone Development Says New AI Lab Underscores New York City’s Attractiveness

BRONX, NY (May 2022) — Joseph Simone of Simone Development Companies says Absci’s recent announcement that it will open an artificial-intelligence research lab in New York City is another sign that start-ups want to be close to young talent conducting noteworthy research.

“Institutions like Columbia University have graduate and doctoral students conducting cutting-edge research in artificial intelligence, life sciences and oncology, so companies like Absci need to be where the talent lives,” said Joseph Simone, president of Simone Development Companies.

The Vancouver, Washington-based Absci recently announced that it will open its research lab at the Carnegie Hall Tower in Manhattan. The location puts Absci’s lab a short subway ride from Columbia University, Google, and the Samsung AI Center.

“Growing companies want to be where the talent lives and studies. The need for proximity to talent is one reason why Simone Development Companies is enthusiastic about our Hutchinson Metro Center, which is a short walk from a major medical research center—the Einstein College of Medicine,” said Patricia Simone, Principal and President of Simone Management Group.

Simone Development Companies is in the process of expanding its Hutchinson Metro Center campus to include life-science-focused laboratories for medical research. The campus will sit next to a new Metro-North train station that will soon provide commuters direct access in 25 minutes to Penn Station and New York City’s other innovation corridors.

The research excellence and entrepreneurial vision of faculty at the Einstein College of Medicine contributed to the recent announcement that the faculty will receive two 2022 XSeed Awards to advance promising basic science findings that have start-up potential. As the Einstein faculty’s research progresses, they will build relationships with investment groups and licensing partners to further develop their discoveries.

“The Hutchinson Metro Center is ready to provide space to any of the start-ups launched by the new research coming out of the Einstein College of Medicine,” said Mrs. Simone.

2022-05-23T12:19:37-04:00May 11, 2022|
Read More

R.A.I.N. Honors Joseph Kelleher of Simone Metro Properties

BRONX, NY (May 2022) — Joseph Kelleher, president of Simone Metro Properties, was honored for his ongoing support of Regional Aid for Interim Needs Total Care, Inc. (R.A.I.N.) at the Bronx-based service provider’s Sixth Annual Golf Outing on May 3rd at the Leewood Golf Club in Westchester County. For the past 58 years, R.A.I.N. has offered compassionate, quality care through a continuum of services for people with disabilities of all ages, including the operation of full service older adult centers; delivery of over 1,600 meals to homebound elderly; transportation services for medical appointments; home care; benefits and entitlements assistance; case management and Alzheimer’s caregiver support services; and operation of the Cucina Dolores Mobile Food Kitchen program. Pictured with Mr. Kelleher (left) at the event is R.A.I.N. President and CEO Anderson Torres, PhD, LCSW-R.

Mr. Kelleher has been a long-time supporter of R.A.I.N. He joined Simone in 2003 to direct the leasing and management of the Hutchinson Metro Center, the company’s highly successful mixed-use complex in the Pelham Bay section of the Bronx, featuring 1.4 million square feet of Class A office, medical, retail and educational space, a Marriott hotel and top-notch amenities including a café, conference center, pharmacy, fitness center, car wash and more in a 42-acre landscaped campus setting. Kelleher also serves as President of the Bronx Chamber of Commerce and as an Adult Leader for The Boy Scouts of America.

Simone Metro Properties is a division of Simone Development Companies, a full-service real estate investment company specializing in the acquisition and development of healthcare, office, retail, industrial and residential properties. Headquartered in the Bronx, the privately held company owns and manages more than 7 million square feet across 130 properties in the Bronx, Westchester County, Queens, Long Island, New Jersey and Connecticut.

2022-05-10T12:47:53-04:00May 1, 2022|
Read More
Toggle Sliding Bar Area

  • Business

  • Year

  • Category

  • Clear All
Go to Top