Virginia Commonwealth University (VCU) is looking to buy the Altria Center for Research and Technology. This 450,000-square-foot facility is right next to VCU’s medical campus and aims to meet the increasing need for healthcare workers in Virginia.
Built with advanced research labs, a vivarium, and other academic spaces, the center is a cost-effective alternative to constructing a new building. Dr. Meredith Weiss, VCU’s CFO, noted that acquiring this property will take five to nine years off the timeline and reduce costs by about two-thirds compared to new construction.
Having modern research facilities is vital for VCU. The growing demand for health services means outdated buildings can’t meet current needs. The Altria Center would help replace these aging structures, cutting nearly $400 million in deferred maintenance costs.
Research facilities are essential for developing new drugs and advancing treatments for diseases. With state-of-the-art space, VCU can attract top researchers and pharmaceutical companies to Virginia, enhancing its reputation as a hub for medical innovation.
Key benefits of acquiring the Altria Center include:
- Attracting leading talent and reinforcing Richmond’s status as a key player in pharmaceutical innovation, demonstrated by recent industry expansions in the region.
- Providing necessary space for VCU’s Massey Comprehensive Cancer Center to maintain its National Cancer Institute (NCI) designation, critical for launching life-saving trials.
- Encouraging enrollment in VCU’s new School of Public Health and highly ranked School of Pharmacy.
Dr. Weiss emphasized that as a top public research institution, VCU is poised to make significant advancements in health through this purchase. The facility will enable the university to deliver vital research findings and innovative treatments efficiently.
Dr. Marlon Levy, CEO of VCU Health, believes this acquisition will enhance clinical training and expand the capacity for discovering new treatments. Modern labs are essential for maintaining Massey’s prestigious recognition and meeting the growing research demands.
Dr. Robert A. Winn, director of Massey, remarked that this facility will provide the necessary infrastructure for groundbreaking research and translating discoveries into effective therapies. Massey needs an additional 50,000 square feet of research space to continue its success.
The Altria Center will also house the School of Pharmacy, which is among the top 20 pharmacy schools in the country. It operates various programs focused on improving patient care through pharmaceutical research. Dr. Kelechi “K.C.” Ogbonna, the school’s dean, pointed out that new facilities are crucial for filling the gaps in Virginia’s growing pharmaceutical workforce.
Dr. Monica Swahn, dean of the recently established School of Public Health, noted that the new programs are expected to reach capacity soon. The center would bolster VCU’s mission to enhance health outcomes for diverse populations through education and community engagement.
Dr. Arturo P. Saavedra, dean of the School of Medicine, emphasized the importance of the Altria Center in fulfilling VCU’s commitment to fostering healthy communities. Its strategic location near the health sciences campus will drive research growth and ultimately save lives.
This acquisition not only positions VCU to advance its research capabilities but also strengthens its role in addressing pressing public health challenges in Virginia and beyond. Overall, the future looks promising for VCU’s health sciences initiatives.
