To be built at public and private universities across the state,the research facilities will total nearly 800,000 sf. Theaccelerated construction schedule is expected to create thousandsof construction jobs in an otherwise unstable economic climate.

The Institute was established in 2004 with the passage ofProposition 71, the California Stem Cell Research and CuresInitiative, and is funded through the sale of 30-year stem cellresearch bonds. The Institute was set up to distribute $3 billionin state funds for stem cell research to California universitiesand research institutions over 10 years.In 2005, 250 King St. inSan Francisco was selected as the Institute's headquarters. Thecity's incentive package included free hotel and conferencefacilities, with architectural design services donated by Genslerand tenant improvements provided by Hathaway Dinwiddie. Thebuilding owner, Terry Francher, and the state Department of GeneralServices executed the no-cost lease for the space.

The Institute's Major Facilities Grant program was launched inAugust 2007. That fall, the Institute evaluated the scientificmerit of 17 proposals and early in 2008 invited 12 institutions toadvance to the second and final part of the application process.The proposals were then evaluated for the technical aspects oftheir building program and how their scientific program aligns withthe CIRM's objectives, and why the program represents a good valuefor California taxpayers' investment.