“We thought it would be a good fit if they wanted to buy the park and have some research buildings already built, and we would have money to replenish our grant endowment so we could start making grants again,” Edwards said. The property also includes land that could accommodate new buildings, he said.
Dr. Dewayne Andrews, senior vice president and provost for the OU Health Sciences Center, said the deal would benefit the goal of both parties to boost biomedical research.
“OU's purchase of this property will establish a continuing affiliation dedicated to supporting biomedical research companies in their efforts to commercialize new equipment and technologies while significantly enhancing the infrastructure available to support increasingly successful OU Health Sciences Center research activities,” Andrews said in a statement.
Edwards said Stanton L. Young and the Presbyterian Health Foundation, working with the Oklahoma City Urban Renewal Authority, began putting together the land “lot-by-lot” on which the research park was built in the mid-1980s with the hope of building a state-of-the-art research park tied to the medical center.
“I think probably in their wildest dreams they would not have expected to be as successful as it was as fast as it was,” he said. “It's turned out to be a great economic development arm for the health center by providing a place for their scientists who have companies that they're trying to bring along to all be able to office right near to the health center and be in position to have conversations with people doing the same thing in the same park.”
The park “is very definitely a success story for Oklahoma,” Edwards said.