Arvinas Participates in Groundbreaking Ceremony for New Space Within Downtown Crossing Development in New Haven
NEW HAVEN, Conn., June 07, 2021 (GLOBE NEWSWIRE) -- Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, today joined state and local officials, fellow tenants, and community partners, in a groundbreaking ceremony for 101 College Street, a new 525,000-square-foot-building to be constructed as part of New Haven’s Downtown Crossing revitalization project. Arvinas will lease three of the 10 floors at 101 College and this space will serve as the Company’s headquarters beginning in 2024.
“Today’s groundbreaking ceremony marks an exciting milestone for Arvinas and will allow us to continue our rapid growth in the years ahead,” said John Houston, Ph.D., President and Chief Executive Officer at Arvinas. “We are thrilled to contribute to the growing biopharmaceutical hub and development of the overall community.”
Construction of 101 College is scheduled to begin in the first half of 2021, and the Arvinas space is estimated to be complete and open for occupancy in 2024. Arvinas will occupy approximately 160,000-square-feet of lab and office accommodations. Arvinas will remain at its current location in Science Park until 101 College is available for occupancy.
Construction of 101 College in the Downtown Crossing section of New Haven is an important step in the revitalization of the City's downtown neighborhoods. When complete, Downtown Crossing will create a connected, walkable community in New Haven’s life sciences district, ease traffic, and bolster Connecticut’s economy. Notably, the project will help connect Yale’s medical and central campuses with world-class life science companies and hundreds of skilled employees. Downtown Crossing is funded by the U.S. Department of Transportation’s TIGER II grant, the City of New Haven, and the State of Connecticut. Winstanley Enterprises, LLC., is the developer on this multi-tenant project.
We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of various risks and uncertainties, including important factors discussed in the “Risk Factors” sections contained in our quarterly and annual reports on file with the Securities and Exchange Commission. The forward-looking statements contained in this press release reflect our current views with respect to future events, and we assume no obligation to update any forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36f43554-3353-4335-8726-96ef1e345712
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