16 Tech Community Corporation opened the $50 million Innovation Building 1 in August of 2020 in Indianapolis. Developed by Browning, the 120,000-sf facility was constructed by Davis & Associates and is now fully leased. The Indiana Biosciences Research Institute is occupying 67,000 sf on the first three floors of the building. The five-story structure will accommodate the Central Indiana Corporate Partnership, as well as providing 12,000 sf of research space for Indiana University's Center for Regenerative Medicine. Ground was broken on the project in December of 2018.
Innovation Building 1 represents the first phase of development for the $500 million 16 Tech Innovation District, which will include the 140,000-sf Innovation Building 2, as well as a residential complex and 15 acres of green space. An existing 94,571-sf structure is being renovated and expanded to create the 105,755-sf HqO Innovation Hub, which will offer a 15,500-sf maker space, offices, co-working facilities, collaboration venues, and a business incubator when it opens in early 2021. A new bridge will serve as the gateway to the 50-acre district to enhance connectivity with the Indiana University School of Medicine and other industry partners.