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University oHouston to build massive innovation center at Energy Research ParkUniversity oHouston to build massive innovation center at Energy Research Parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=115932015-12-28T06:00:00Z

​HOUSTON - A group of local investors has formalized an agreement with the University of Houston to build a massive innovation center at the Energy Research Park.

The Texas Collegiate Regional Center (TCRC) first entered an agreement with the University of Houston in May 2014 to establish a venture capital fund to invest in UH technology and bring new technology to the city, as well as create an office park to house businesses.

An agreement has been made to establish an 80-year land deal between TCRC and the University of Houston to build two 75,000-sf office buildings at the Energy Research Park.

It’s still early for any definitive plans on what the facilities will be used for. Quoz Capital, a new venture capital fund created by TCRC, could take space there, and the University of Houston has indicated to TCRC that it will need space for classrooms and offices as well.

One concept is to recruit overseas companies that want to be part of an American university, as well as expand their operations.

The TCRC facility will be an EB-5 Regional Center, which will help recruit EB-5 Visa applicants. EB-5 visas are awarded to foreign investors investing in a local company that plan to create or preserve ten permanent jobs in the United States.

Under the agreement, TCRC has to begin construction on the project within the next 12 to 18 months. 

The first phase of the project will be a 75,000-sf, three-story office building.

Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
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