Enable new innovations, accelerate research, and facilitate collaboration between public institutions and private enterprise. That was Georgia Tech’s vision for Technology Square, or “Tech Square.”
But it was not going to be easy. Georgia Tech had to acquire land, create funding strategies, and execute on its plans for the development.
To make Tech Square a reality, the university needed to quickly address – and surmount – an array of complex challenges. Georgia Tech required board-level leadership from an experienced developer and problem-solver. That’s where TUFF came in.
TUFF’s leadership helped create the Tech Square of today.
First, TUFF provided land acquisition capital with no recourse to Georgia Tech. This capital ensured that the university would have an option on the additional land needed for Tech Square. TUFF also devised a financial structure for the Centergy building, the town hall of Tech Square, which would serve as a home for Tech Square’s startup incubator.
Working with Georgia Tech’s President, TUFF met with the Governor of Georgia to secure support for Tech Square as the base of operations for a state research, education, and economic development initiative. The vision was for Tech Square to be a place where talented researchers, students, and business leaders could collaborate and take new ideas to market.
Thanks to TUFF’s leadership, that’s exactly what happens at Tech Square today.
At its core, Tech Square helps Georgia Tech fulfill its mission of “improving the human condition” by providing a dynamic, convergent innovation space.
Advanced Technology and Development Center (ATDC)
TUFF developed a $56 million facility to consolidate the activities of ATDC, Georgia Tech’s business incubator, with other elements of the university’s Enterprise Innovation Institute.
Structured primarily with tax-exempt municipal bonds in a complex finance plan, TUFF funded the capital needed to initiate the entire development. Thanks to a co-ownership arrangement, TUFF now owns 5 of the 13 stories making up the Centergy building and leases them to Georgia Tech at below market rates – the fundamental economic practice within TUFF’s core mission. After the commitments within the master lease are fulfilled, Georgia Tech will gain ownership of the space.
- 13 Stories
- 500,000 Square Feet
- 13,000 Square Feet of Retail Space
- 16 Innovation Centers
- Fitness Center
- Collaboration Space
- Jointly Used Activated Plaza
Technology Square Research Building (TSRB)
Georgia Tech sought TUFF’s leadership to develop basic and applied research space adjacent to the ATDC incubator. At the same time, the State of Georgia needed a facility to develop broadband systems, devices, and chips. Integrating the demands of the university and the State, TUFF combined the two initiatives.
TUFF developed the $75 million facility, primarily via tax-exempt municipal financing. This arrangement reduced the cost of occupancy for Georgia Tech and the State. The result is a state-of-the-art facility that houses multiple research institutes. Scientists with established companies have relocated to the incubator space in Centergy, fulfilling the university’s vision of a complete innovation lifecycle at Tech Square.
- 6 Stories
- 200,000 Square Feet
- 8,000 Square Feet of Retail Space
- 5 Research Institutes
- 93-Seat Auditorium
- 2 Banquet Halls
- Jointly Used Activated Plaza