The Albert Einstein College of Medicine of Yeshiva University will break ground next week on a new $200 million genetic research facility -- the largest medical research facility to be built in the Bronx since the medical college opened in 1955.
Located at the corner of Morris Park Avenue and Eastchester Road, the 201,000-square-foot facility will house 40 laboratories and a 100-seat auditorium. When completed in 2008, the center is expected to employ 400 people. Albert Einstein will lease 10 acres of land from Jacobi Medical Center, a teaching affiliate of the medical school, for 99 years to house the facility.
The new five-story center will be named in honor of mutual fund magnate Michael Price, who donated $25 million to the project, as well as Muriel Block and her late husband, Harold. Mrs. Block donated $21 million to the construction.
Research conducted at the facility will be focused in the area of genetic medicine, according to Dominick Purpura, M.D., the medical college's dean. "The research that will take place in the Price Center and Block Pavilion will be at the frontier of biomedical science and has the potential to impact every area of medicine from cardiovascular disease, cancer and diabetes to genetic disorders, Alzheimer's disease and many others," Dr. Purpura said in a statement.
Groundbreaking on the project will take place on Oct. 13.
For more news, see Crain's New York Business.