The Buck Institute for Age Research is to Build a $41 million center for research of stem cells
The Buck Institute for Age Research has received an award and starting capital of $20,5 million for the construction of a $41 million center for research of stem cells by the California Institute for Regenerative Medicine in May 2008. Due to financial crisis the Buck Institute was not able to raise its award that is required to complete the planned research center in Novato. Despite that Dr. Charles Epstein, the institute’s chairman of the board of trustees has announced that the institute’s board decided to proceed the plans for the construction of the research center even if the institute does not receive $15 million in federal funds for stimulation.
Dr. Epstein admits they will have difficulties without the federal stimulus money because it is not easy to get $20 million from anyone during the recession. In case if the institute does not get a larger amount of stimulus funds it will try to collect the required sum at the philanthropic organizations and private donors. Dr. Epstein also stated that the Buck Institute is prepared to loan the necessary money to complete the construction of their research center.
The 65,600 square feet research center will be built next to the institute’s headquarters in Novato. The plan made by I. P. Pei foresees five buildings on 335,000 square feet and has almost all the necessary papers allowing its construction. According to Ralph O’Rear, the institute’s vice president for facilities and planning the construction of the center will start at the end of March or April and will resemble the institute’s building that are already in existence when completed. It will house dozen labs, cell and tissue storage facilities, offices for administration, a gym, library, conference room and food service. O’Rear also stated that the institute is considering construction of a shell building to rent it to interested parties.
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