The first of two new buildings planned for the University of Maryland, Baltimore BioPark is expected to break ground Friday, adding significant new lab space for new and growing bioscience companies in the city.

An eight-story, 250,000-square-foot building called 4MLK is expected to be completed in the summer of 2024, and another similarly sized building is slated for the next phase.

Officials see the structure, at the intersection of Martin Luther King Jr. Boulevard and Baltimore Street, as a gateway between the BioPark, the university and the University of Maryland Medical Center.

“The BioPark is a highly sought-after location for companies seeking commercial wet lab space as well as connection to UMB and the vast resources we offer,” said Dr. Bruce Jarrell, the university’s president, in a statement. He said the project “will deliver a high volume of new lab space to Baltimore, helping fill the severe shortage in our region.”

Read they full story from The Baltimore Sun.