Blackstone company BioMed Realty will work with local planners in a bid to revive support for a development crucial to the Cambridge and UK life Science community and which could trigger 3,000 new jobs in the sector.
Prime Minister Boris Johnson has backed BioMed Realty’s plans to build the Cambridge International Technology Park, off Fulbourn Road but local planners refused the application last month, citing unacceptable impacts on traffic and landscape. In so doing, they put at risk massive investment in life science facilities crucial to the continued evolution of Cambridge BioMedTech and UK GDP.
The UK government fears that companies looking to put down roots in Cambridge will go abroad if their demands for lab and office space cannot be met.
Luckily for Cambridge, and for the PM’s crumbling credibility, the US real estate world leader is refusing to give up on the development.
Blackstone and BioMed Realty decline to go on the record with their reaction to the initial planning rejection. It wants to help Cambridge remain one of the UK and the world’s premier life science markets.