August 19, 2014

Torrey Pines Institute for Molecular Studies

Torrey Pines HQ Ahead of Schedule

Ellen Forman | 8/1/2008
Torrey PinesThe 107,000-sq.-ft. Torrey Pines facility in Port St. Lucie

Michael E. Augustine is the new vice president and CFO at Torrey Pines Institute for Molecular Studies’ second location, now under construction in Port St. Lucie. He returns to Florida with 21 years of non-profit financial management experience.

New Headquarters

“The building — a 107,000-sq.-ft. facility — is progressing at an amazing pace. It’s running ahead of schedule at this point. We’re anticipating an occupancy certificate in early fall. We hope to move equipment in by the end of the year, and all of our employees will be working in the new building by the start of 2009. We’re also working toward a ‘green’ building certification. We’re hoping to achieve the silver LEED level. It’s a beautiful facility, an open design that will encourage innovation and collaboration among the scientists and encourage movement around the building.”

Employment

Torrey Pines “The institute is ahead of schedule in terms of hiring. Our business plan projected 18 on board by June 2008, and we had 25. Our internship program has started with three interns from the four-county Science Coast region. We estimate 40 employees when the building opens. The next major benchmark is to have 75 employees by 2010. Our mandate is to have 189 in the building by 2016, and the building can hold up to 300.”

Community Impact

“One of the first things is the construction of the facility and the creation of jobs as a result of that project. At any one time, there can be as many as 100 workers on the site. Down the road, in addition to community education projects, we’ll be doing collaborative work with other scientific institutes around the state. Florida is an easy place to travel around.”

Tags: Southeast, Housing/Construction

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