10 Oct Regents approve lease that will expand UW lab space
At the University of Wisconsin System Board of Regents meeting last week, the Capital Planning and Budget Committee recommended and the full Board approved a request for UW–Madison to enter into a lease for nearly 51,000 square feet at the anticipated Element Labs location at University Research Park.
“This is a huge win for UW–Madison and our research enterprise,” Vice Chancellor for Research and Graduate Education Steve Ackerman said. “Element Labs will provide a home for several research teams. That makes a real impact on recruiting and retaining researchers who are making groundbreaking discoveries and advancing the Wisconsin Idea.”
Over the last five years, UW–Madison has grown its research enterprise by about 4.7% annually, and it’s currently ranked eighth in the nation, in the latest Higher Education Research and Development (HERD) survey from 2020. Peer institutions that ranked sixth and seventh average an annual growth rate of about 6.4%, according to according to 2020 HERD data.
“UW–Madison aspires to grow its excellent research enterprise still further.” Chancellor Jennifer Mnookin said. “Adequate, high-quality space is a key contributing factor to make that possible, and space at Element Labs, located in research park and within Madison’s life sciences ecosystem, is a great step in the right direction.”
Located at the corner of Mineral Point Road and Whitney Way, Element Labs offers 147,000 square feet of state-of-the-art laboratory and office space. Construction has begun, and the project is expected to be finished in the second half of 2023.