Versiti Blood Research Institute has increased the size of the planned expansion of its research institute building at the
Milwaukee Regional Medial Center campus in Wauwatosa.
Versiti on Monday released renderings of a planned 79,000-square-foot expansion to its building at 8727 West Watertown Plank Road.
Versiti
first announced plans to expand the research institute in April of last year. At that time, the plan was to construct a $63.5 million, 60,000-square-foot expansion.
Since then, the expansion plan has grown by 19,000 square feet, and is now expected to cost about $79 million. Versiti currently has about 90,000 square feet of space at its Watertown Plank Road research facility. The expansion would nearly double Versiti's research capacity, officials have said, adding approximately 100 new jobs, and generating an estimated $19 million in additional tax revenue for the state of Wisconsin over 30 years.
HGA is serving as the architect for the expansion, and
Mortenson is the general contractor. Construction is slated to begin later this year with an estimated completion date in 2026.
The project is being funded in part by a $10 million state budget earmark. The remaining funding is coming from private funding and donations, nonprofit officials said.
Headquartered in Milwaukee, Versiti operates blood donation and research facilities across the Midwest aimed at improving blood health. It has more than 2,200 employees at its locations in Illinois, Indiana, Michigan, Ohio, Texas, and Wisconsin.
Expanding research
The new addition will expand Versiti's research capacity and promote efforts to discover novel, more effective, and less toxic therapies for a broad range of conditions, the organization says.
“The expansion represents a crucial milestone for the Versiti Blood Research Institute. Renowned for our innovative and leading research and extensive knowledge of bleeding and clotting disorders, we are now broadening our focus to include blood cancers and immune system diseases,” said
Chris Miskel, president and CEO of Versiti. “This initiative signifies a transformative phase where we can make a positive difference in the health and welfare of patients and families, both locally in Milwaukee and globally.”
The Versiti is nearing capacity and plans to expand its current team of 31 principal scientists to approximately 50 in the next 5-7 years. Each new scientist will bring a team of up to 10 new colleagues. This will bring the total number of researchers and staff from approximately 200 to more than 350.
“Our organization is built on a foundation of collaboration, and we know we cannot write this next chapter alone,” said Miskel. “The next phase of the Versiti Blood Research Institute will only be made possible through collaboration—from our research and health care partners to donors in our community. We encourage everyone to join us to invest in research, invest in growth, invest in innovation, invest in hope.”
