World-class life sciences development Catalyst breaks ground in Toronto
Project by Seeker Labs set to revolutionize Canada’s life sciences pursuits
Toronto, September 28, 2023 – We are witnessing widespread innovation in the life sciences and innovation sectors, yet the demand for best-in-class lab space far outstrips the available supply in Canada. Now, Toronto will soon be home to a game-changing innovation facility with the launch of Catalyst: the city’s first purpose-built life sciences project in over two decades.
Developed by Seeker Labs, Catalyst is now under construction at 77 Wade Avenue in Toronto’s vibrant Junction neighbourhood. Designed to deliver world-class lab specifications, it will feature 155,000 square feet of high-performance space designed for high-impact innovators.
“For too long, we’ve lacked the facilities needed in this country to properly propel the growth of Canada’s life sciences and health technology ecosystems. In fact, the vacancy rate in the GTA life science market alone sits at just 0.2 percent,” says Cary Solomon, Managing Partner of Seeker Labs. “With Catalyst, we’re laying the foundation for research entities, institutions, start-ups and companies of all sizes to bring their innovative ideas to life.”
An urgency to strengthen Canada’s life sciences sector
Rapid technological advances are driving growth in the life sciences sector, in such areas as personalized health care, regenerative medicine, genomics and synthetic biology – as well as the increasing convergence of artificial intelligence and big data analytics. Nevertheless, Canada remains dependent on the global market – a fact underscored by COVID vaccine production – prompting an urgency to strengthen the country’s life sciences and health technology industries.
Wet lab space is the most sought-after product type for research and development. Multiple industry surveys estimate that, in Toronto alone, enterprise companies collectively seek more than 1.0 million square feet – most needing less than 20,000 square feet. Typically, these requirements are best accommodated in multi-tenant, purpose-built facilities, yet these are virtually non-existent in the GTA.
Catalyst marks the first of Seeker Labs’ network of innovation facilities across Canada, with additional new projects expected to break ground next year. Catalyst is set to welcome occupants by fourth quarter 2024, with full completion expected by April 2025. For more information, visit www.seekerlabs.ca.
About Seeker Labs
Seeker Labs is a Toronto-based national development and management platform focused on creating Canada’s foremost innovation real estate brand. Leveraging more than thirty-five years of development and operations experience across multiple product types in Canada and the U.S., Seeker Labs aims to become the preferred real estate provider to the rapidly growing sciences innovation sector in Canada. Through various predecessor entities, its principals have been responsible for the development or re-development of projects totalling more than $3 billion in value and 12 million square feet.