Permit Obtained For $2.41M Laboratory
Nielsen Builders obtained a permit earlier this month for a $2.41 million laboratory, representing the final 14,500-square-foot build-out of SRI’s Center for Advanced Drug Research, or CADRE.
SRI Shenandoah Valley, a pharmaceutical research firm, is a division of Silicon Valley-based nonprofit research and development organization SRI International.
Dina Basin, a spokeswoman for SRI International, said construction is expected to begin early next month and wrap up in July or August.
In July 2011, officials with the pharmaceutical research firm indicated the last development phase of the building would move forward then, with Executive Director Krishna Kodukula saying at the time it would be finished within nine months.
The reason for the delay could not be determined Thursday.
Officials with SRI Shenandoah Valley could not be reached for comment for this story.
SRI Shenandoah Valley is located in Innovation Village @ Rockingham, formerly the Rockingham Center for Research and Technology, located off U.S. 11 north of Harrisonburg.
Consultants for the 365-acre research and tech park recommended a name change to help brand and market the center to other prospective firms.
SRI Shenandoah Valley moved into CADRE in 2009 and is so far the only tenant at the tech park.
Rockingham County borrowed $17.5 million to construct CADRE as part of a deal in which the firm will repay the county through a lease agreement, said Stephen King, deputy county administrator.
At a meeting on July 13, 2011, the Board of Supervisors authorized up to $2.1 million to finance the final phase of CADRE, but King said SRI decided to finance the expansion itself.
SRI Shenandoah Valley is billed as the anchor of Innovation Village @ Rockingham, a complex envisioned as a hub for high-tech research and technological development.
More information about the SRI complex can be found online at www.ivatr.com.
Contact Jeremy Hunt at 574-6273 or firstname.lastname@example.org