BRONX, NY (December 2021) — Biotech companies’ appetite for research institutions’ groundbreaking discoveries is driving demand for new life-science facilities, said Joseph Simone of Simone Development Companies.

“New York City’s university research hospitals are gold mines of innovation and emerging technologies,” said Joe Simone. “These research institutions are transferring their technologies to biotech start-ups, which are spending billions of dollars to bring research-driven innovations to market. Therefore, the need for life-science web labs is exploding.”

The New York City Economic Development Corporation (NYCEDC) announced a plan in June to double a $500 million investment in life sciences to $1 billion as part of LifeSci NYC, a commitment to create jobs and establish New York City as the global leader in life sciences.

“In November New York City approved the New York Blood Center’s new tower, which includes 600,000 square feet of life sciences lab space that will be rented to research and biotech companies. This is just one of several examples of new life-sciences construction proposed throughout the New York metro area,” said Joe Simone.

New York City’s investments in biotech include a $13 million grant to Montefiore Medical Center and its medical school, the Albert Einstein College of Medicine to launch the Einstein-Montefiore Biotechnology Accelerated Research Center. The center will create a biomanufacturing facility focused on cell, gene, and antibody therapy production. The Bronx-based center will be open to early-stage and established companies.

Across the street from the proposed biotech facility, Simone Development Companies’ Hutchinson Metro Center includes an ambulatory surgical center for Montefiore. At the south end of the Hutchinson Metro Center, Joseph Simone has proposed building a life-sciences park that includes wet laboratories for medical research. “The life sciences are the Industrial Revolution of the 21st-century, and Simone Development Companies is ready to build the facilities needed for the new generation of biotech start-ups.”

BRONX, NY (December 2021) — Biotech companies’ appetite for research institutions’ groundbreaking discoveries is driving growth in new life-science facilities, said Joseph Simone of Simone Development Companies.

“New York City’s university research hospitals are gold mines of innovation and emerging technologies,” said Joe Simone. “These research institutions are transferring their technologies to biotech start-ups and venture capitalists, which are investing billions of dollars to bring research-driven innovations to market. Therefore, the need for life-science web labs is exploding.”

The New York City Economic Development Corporation (NYCEDC) announced a plan in June to double a $500 million investment in life sciences to $1 billion as part of LifeSci NYC, a commitment to create jobs and establish New York City as the global leader in life sciences.

“In November New York City approved the New York Blood Center’s new tower, which includes 600,000 square feet of life sciences lab space that will be rented to research and biotech companies. This is just one of several examples of new life-sciences construction proposed throughout the New York metro area,” said Simone.

New York City’s biotech investments include a $13 million grant to Montefiore Medical Center and its medical school, the Albert Einstein College of Medicine to launch the Einstein-Montefiore Biotechnology Accelerated Research Center. The center will create a biomanufacturing facility focused on cell, gene, and antibody therapy production. The Bronx-based center will be open to early-stage and established companies.

Across the street from the proposed biotech facility, Simone Development Companies’ Hutchinson Metro Center includes an ambulatory surgical center for Montefiore. At the south end of the Hutchinson Metro Center, Joseph Simone has proposed building an office park that includes wet laboratories for medical research.

According to the New York City Economic Development Corporation, the life sciences sector has seen an average annual growth of 50+ biotech companies since 2016. Simone said that this growth is not limited to the New York City region.

“A fast-growing real estate investment trust recently reported record leasing activity driven by life sciences in knowledge centers like San Francisco, Seattle, Maryland and North Carolina,” said Joseph Simone. “The life sciences are the Industrial Revolution of the 21st-century, and Simone Development Companies is ready to build the facilities needed for the new generation of biotech start-ups.”

BRONX, NY (November 29, 2021) — Consumers’ increasing use of Google’s search engine to locate medical care should guide healthcare real estate developers’ site planning, said Joseph Simone of Simone Development Companies.

“The phrase ‘urgent care near me’ is one of the top terms, with almost 2 million searches each month,” said Joseph Simone, president of Simone Development Companies. “Other top searches are ‘hospital near me’ and ‘walk-in clinic near me.’ These terms underscore the importance of web analytics when real estate developers consider their site selection and what kind of tenant mix developers must acquire.”

Informed use of search engine analytics can help developers determine which communities most often search for urgent care or specialties, thereby improving the chances of immediate success for a new care facility.

“Anyone on Google who is searching for a service wants that service nearby, which is why we have seen the proliferation of urgent care in non-traditional medical locations like shopping centers,” said Joe Simone. “Now we see outpatient surgical centers and other medical services migrate to malls as proximity to consumers becomes increasingly critical.”

Simone Development Companies has been a pioneer in using analytics and market data to bring healthcare where consumers want it—in their neighborhoods.

Simone’s Boyce Thompson Center in Yonkers, N.Y. includes outpatient care, physician offices, a pharmacy, a med spa, retail and restaurants. Similarly, the Purchase Professional Park in Purchase, N.Y. combines first-class office and medical space, exceptional amenities and one of the most convenient office locations in the region.

“Developers must understand that the words ‘near me’ are the gold standard. We must respond to that search term by locating our projects as close to consumers and neighborhoods as possible,” said Joe Simone.

BRONX, NY (November 8, 2021) — Competition to deliver the most convenient care is a factor in recent announcements about new medical real estate projects, says Joseph Simone, President of Simone Development Companies.

Across the United States, hospital networks are unveiling proposals that consolidate offices and services in easy-to-access locations to attract patients who have grown accustomed to appointment-free urgent care and telehealth.

“In October, Mount Sinai Morningside filed plans for a $28.5 million outpatient clinic in New York City’s Harlem neighborhood that consolidates primary care, surgical services, and AIDS outpatient health from several other locations with the goal of integrating care and reducing inefficiency,” said Joe Simone, President of Simone Development Companies. “Similarly, UChicago Medicine recently announced a hospital in northwest Indiana. Again, the goal is to deliver a seamless experience to patients who need convenient access to advanced care.”

Simone Development Companies is a leader in the push for convenient healthcare with the development of the Hutchinson Metro Center, a 42-acre mixed-use campus in the Bronx that combines an ambulatory surgical center with retail, hospitality, office, and doctors’ offices.

“Bronx residents can receive every aspect of their health care at the Hutchinson Metro Center,” said Joe Simone. “The old, fragmented model of health care where a primary care doctor and a specialist were miles apart in a congested city didn’t work for many Bronx residents, who prefer an integrated campus with ample parking and easy access to public transportation.”

Another example is Simone Development’s Boyce Thompson Center in Yonkers, NY, an 85,000-square-foot mixed-use center featuring medical offices, retail shops and restaurants. Major anchor tenants include St. John’s Riverside Hospital and Westmed Medical Group.

Joseph Simone said that recent announcements about new hospitals and consolidated facilities are just one aspect of the emerging convenience care trend.

“We are seeing the proliferation of free-standing emergency rooms, healthcare monitoring apps, home health devices, and even classic house calls,” said Joe Simone. “All these services are designed to satisfy the growing demand for convenient care.”