University officials gathered Wednesday to celebrate the opening of the Town Center II building, part of the University Research Park.
University Research Park was developed through the U.Va. Foundation to support industrial research relationships between private companies and the University, said U.Va. Foundation Director of Marketing Deborah van Eersel.
For instance, University faculty members may aid in product development and students can be hired for internships at these companies, van Eersel said.
According to Tim Rose, chief executive officer of the U.Va. Foundation, groundbreaking for the University Research Park occurred eight years ago, and the park is now the home to thirteen different companies.
Eventually, "the park will have three million square feet and will continue to provide opportunities for students and faculty to take what they learn in the classroom and apply it in the real world," Rose said.
The 84,000 square feet Town Center II is the sixth building to be added to the University Research Park, Rose added.
The Town Center is a section of the University Research Park meant to be more urban in nature, van Eersel said.
"You see support services [such as drycleaners] in center town districts for employees," she explained, adding that there are eventual plans for a hotel to be built in the Town Center district as well.
Town Center II is the second building to be opened in the Town Center district, van Eesel added.
According to both Rose and van Eersel, many of the companies located in the park are contractors of the National Ground Intelligence Center, located in close proximity to the park.
The NGIC is a division of the Department of the Army that performs intelligence work and deals with classified information, van Eersel said.
"We hope a lot of the tenants will have a relationship with NGIC," Rose said in regard to the new space available in Town Center II.
University President John T. Casteen, III and Leonard Sandridge, University executive vice president and chief operating officer, were both present at the opening ceremony Wednesday, van Eersel said.
"Casteen was there to cut the ribbon, and he talked about his research vision," van Eersel said.
According to van Eersel, more space is still available in the University Research Park.
Town Center II "will bring new companies into the park," van Eersel said. "These companies will have a relationship with the University."
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