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Vitrian and The Howard Hughes Corporation Form Joint Venture to Develop Life Science Projects in The Woodlands, Texas
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
The Howard Hughes Corporation (NYSE: HHC) and Vitrian have formed a joint venture to develop cGMP/Biomanufacturing facilities in The Woodlands, Texas. This initiative aims to capitalize on the area's growing life sciences sector, anchored by companies like Cellipont Bioservices and Millipore Sigma. The partnership is designed to support firms focusing on in-house manufacturing and contract development manufacturing organizations. The Woodlands offers a strong healthcare industry presence and a skilled workforce, making it an appealing location for life science companies. Both companies believe this venture will enhance The Woodlands' reputation as a life sciences hub.
Positive
Formation of a joint venture with Vitrian to develop biomanufacturing facilities.
Strategic location in The Woodlands, benefiting from a growing life sciences cluster.
Support for both in-house manufacturing and contract development organizations.
Negative
None.
THE WOODLANDS, Texas--(BUSINESS WIRE)--
Vitrian, a national platform providing an end-to-end solution for mission-critical biomanufacturing facilities, and The Howard Hughes Corporation (NYSE: HHC) announced today their formation of a joint venture to develop cGMP/Biomanufacturing facilities in HHC’s award-winning master planned community of The Woodlands.
Building upon the rapidly growing cluster of life science research and development and biomanufacturing in The Woodlands, anchored by Cellipont Bioservices, Millipore Sigma, VGXI, and KBI Biopharma, among others, the Vitrian/HHC venture is positioned to meet the needs of companies focused on in-house manufacturing (from biopharma to industrial biology) as well as contract development manufacturing organizations (CDMOs).
The Woodlands has emerged as an attractive location for advanced biomanufacturing given its strength of the healthcare industry within the community with Memorial Hermann The Woodlands Medical Center and its position within the Greater Houston region with its global healthcare leadership—in clinical trials and patient care through the Texas Medical Center. Healthcare is The Woodlands’ largest employment sector, highlighted by the deeply skilled workforce living in the community—sought after for its top-ranked quality-of-life, amenities, and walkable urban center that makes The Woodlands a compelling option for life science companies and businesses in general looking to attract and retain today’s top talent.
“Vitrian is excited to join The Howard Hughes Corporation in developing next-generation cGMP facilities in The Woodlands,” said Scott Nudelman, co-founder and managing principal of Vitrian. “Our experience partnering with Cellipont Bioservices on their new headquarters and manufacturing site in The Woodlands’ Research Forest—as well as our overall engagement in the Greater Houston region—has convinced us that we are in the early innings of growth in biomanufacturing. The dynamic environment and amenity base created and nurtured by Howard Hughes provides a unique place to attract and retain life science companies and their workforce.”
“This joint venture further diversifies the innovative industries that are represented in The Woodlands with the advancement of life science,” said Jim Carman, President of the Houston Region for The Howard Hughes Corporation. “The Woodlands continues to attract companies from a variety of industries seeking a highly-skilled talent pool, business-friendly environment, and high quality of life for their employees.”
About Vitrian
Vitrian is the first fully integrated company dedicated exclusively to providing end-to-end solutions for biomanufacturing and cGMP facilities. Its mission is to foster the next generation of drugs and therapies through facility real estate development, improving the capitalization process, and building capacity for future growth through civic engagement and workforce development. Vitrian is a member of the Greater Houston Partnership’s Life Sciences committee and is actively engaged in training/capacity building for entry-level biomanufacturing workforce. Vitrian’s current engagements span modalities from advanced therapeutics to synthetic biology to regenerative medicine. For more information, visit www.vitrian.com.
About The Howard Hughes Corporation
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country's preeminent portfolio of master planned cities and communities, as well as operating properties and development opportunities including: the Seaport in New York City; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; Ward Village® in Honolulu, Hawai'i; and Teravalis™ in the Greater Phoenix, Arizona area. The Howard Hughes Corporation's portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative place making, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC.
About The Woodlands®
The Woodlands, a 28,500-acre award-winning master planned community located 27 miles north of downtown Houston, was recognized two consecutive years, 2022 and 2021, as the #1 Best Community to Live in America by Niche. The Woodlands offers an unprecedented 28% of green space, leading the way among master planned communities that practice environmental preservation. It is home to 120,000 people, and nearly 67,000 people work in the community. The Woodlands has received numerous past accolades including the Vision Award, Development of Distinction from the Urban Land Institute; three-time honoree of “Master Planned Community of the Year,” four-time recipient of “Humanitarian of the Year” and “Trailblazer of the Year” in 2018 by the Greater Houston Builders Association; American Trails Developer Award; Environmental Planning Award from the American Society of Landscape Architects, Texas Chapter Houston Section. The Woodlands is a community of The Howard Hughes Corporation, which supports over 180 local causes in the Houston region through its HHCares program. For more information, visit thewoodlands.com. For additional details, find us on Facebook and Twitter.
