Making the Case for More Innovation Districts
Date Posted: December 16, 2015
Posted In: Discussion, Ideas, News,
From Urban Land, Magazine of the Urban Land Institute: Over the past decade, innovation districts have been on the rise. These technology-centric developments are popping up around the globe, from Barcelona to Seattle. Although there is no “cookie cutter” formula to these districts, they do have some elements in common. One of the key traits is that they are anchored by a major institution such as a university, hospital, corporation, or research facility. There also is a shared goal of bringing together a mix of uses such as office and research-and-development space, housing, retail, and transit all within a dense urban setting.
However, these districts are more than just buildings and real estate. The underlying purpose is to create a center that fosters innovation—new ideas, new products, and new technologies. “What all of these innovation centers do is create opportunities for people to cross-pollinate,” says Dennis Lower, president and CEO of Cortex Innovation Community in St. Louis. Innovation districts bring people together in an environment that helps accelerate the growth of new companies and the launch of new products, he adds.
Founded in 2002, the Cortex Innovation Community is home to a 200-acre (81 ha) innovation and technology district integrated into St. Louis’s historic Central West End and Forest Park Southeast residential neighborhoods. It is emerging as a premier innovation hub of bioscience and technology research, development, and commercialization. The district is a joint effort of Washington University in St. Louis, BJC Healthcare, the University of Missouri at St. Louis, St. Louis University, and the Missouri Botanical Garden.