Richard Crookes Constructions has commenced construction on the $350 million joint venture project, Innovation Quarter (IQ) in Westmead.
The development – a joint venture between the Charter Hall Group and Western Sydney University – aims to deliver a 43,000 square metre hub for critical health, education, research and business space, and create more than 1000 construction jobs.
CSIRO will move its research staff from its e-Health, Nutrition and Health program and Future Science Platform to the precinct, along with three of Western Sydney University’s research institutes – the MARCS Institute for Brain, Behaviour and Development, the NICM Health Research Institute, and Translational Health Research Institute (THRI).
IQ’s first two mixed use towers will facilitate opportunities for collaboration across the public and private sectors. Additionally, 2000 square metres of retail space, lifestyle facilities and amenity will be included within the precinct.
Charter Hall Managing Director and Group CEO David Harrison said there’s never been a more important time to focus on health research and innovation.
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“Our project collaboration with Western Sydney University will deliver a state-of-the-art innovation centre to support the work of both the Western Sydney University and CSIRO’s medical research facilities,” Harrison said.
“IQ will be a truly visionary precinct that brings together the most forward-thinking research, health education and commercial sectors in the Southern Hemisphere.
“The project will provide an environment for some of the brightest minds in the country to innovate, create opportunities for collaboration and solve global challenges in the heart of Westmead.”
Western Sydney University Vice-President (Finance and Resources) Peter Pickering said IQ will build upon the University’s existing footprint in Westmead to integrate first-class health and medical research into policy and practice.
“The University’s presence within IQ will enable researchers, industry partners and clinicians to come together and address the nation’s most pressing health challenges,” Pickering said.
“During these challenging times, IQ will also make important economic contributions to the region, generating $150 million for the regional economy and creating a significant number of jobs.”
Completion of the project is scheduled for Q4 2021.