BUENOS, AIRES-Taurus Americas is planning to develop a 1.6-million-sf technology park on 67 acres here in conjunction with Austral University. The $100-million development will be the first university research park in the country.

Taurus Americas is a locally based subsidiary of Munich-based Taurus Investment Holdings LLC. The company was selected by the private, for-profit Catholic university to be the exclusive developer of the park, which has received governmental endorsement at national, state and municipal levels.

The park will be located on the university’s campus in Pilar, which is located 40 minutes from the Buenos Aires CBD. The campus has a Biomedic Sciences program, a highly regarded business school and a brand new hospital.

The development plan calls for 1.61 million sf of offices, laboratories, and related facilities, including buildings for business incubation. Taurus will invest US$15 million in private equity in the project’s first phase to finance 100% of the park’s infrastructure and four central/incubator buildings totaling approximately 130,000 sf.

Taurus local expertise partner in Buenos Aires is Ramiro Juliá, founder and past chairman of the Urban Land Institute’s South American Council. Juliá tells GlobeSt.com through a third party that Taurus and the university are currently interviewing and selecting the companies that will become the first to occupy the park. Since Austral Technology Park is a national strategic initiative, companies located within it will be granted tax exemptions and subsidies. Interested companies include multi-national chemical, communications, information technology and pharmaceutical firms.

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