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UT Austin leasing 10K sf of lab space

AUSTIN Texas – The University of Texas at Austin has announced the development of a 10,000-sf lab space at Parmer Austin.

UT Impact Labs will be managed by the school’s Discovery to Impact program, which will lease the space for life science-based startups.

“Opportunity Austin is targeting the high-priority life sciences industry by tailoring recruitment strategies and effectively utilizing new federal investments and incentives,” said Gary Farmer, chairman and interim CEO of Opportunity Austin. “For our efforts to be effective, though, we need space. Historically, our ability to sustain a thriving life sciences cluster has been impacted by the availability and affordability of leasable lab space for innovators.”

There is currently no timeline on when the new lab will open.

Karlin Real Estate partnered with UT on the project.