BRYAN, TX — A new innovation center in Bryan is expected to bring a boost to the local economy.
The Lake Walk was created through a partnership with Traditions Acquisition and the City of Bryan with the local community and visitors to Bryan-College Station in mind.
The center will serve as a catalyst for economic development.
“We have a lot of trust in our city partners, and we’re very grateful that they trust in us as well. And so, we went to that city partnership and said, "Hey we’ve never done this before in terms of acquiring a building in our partnership, but we’ve had a really good partnership in the land development here." And we were able to paint a strategic vision for them and say, "Hey this building, this key piece of real estate in Lake Walk can be transformation not only for Bryan but for the region,” said Spencer Clements, a partner with Bryan Traditions LP.
Bryan Mayor Andrew Nelson says the City has invested $2.7 million in the Lake Walk Innovation Center.
"We will get 5% interest on that. We will be an equity partner. We are not buying the building ourselves directly as the City of Bryan. Bryan Commerce and Development, which is our business wing, is contributing that. We're preferred investors," Nelson explained.
The Lake Walk Innovation Center will be located in the old Nutrabolt building across from the Stella Hotel to provide a space for global corporations to come, grow and innovate their businesses in the Brazos Valley
“This building is going to be an ecosystem for innovation,” said Nelson.
The 47,000 square-foot space includes an open concept working environment with individual offices, a learning center auditorium, and a 20,000 square-foot wellness center.
“It’s a corporate club house for these types of top global brands that really need a presence in the Brazos Valley,” said Clements.
While the City of Bryan and the partners involved are all excited to provide an innovation center of this kind to Bryan-College Station community, it’s location could not be better
“This is a wonderful spot in Bryan-College Station. We are basically half way between the flagship university and the Rellis campus. We are surrounded by Texas A&M on three sides," said Clements.
The Stella Hotel is also pleased with the expansion news.
“We feel that we have been an anchor in this Lake Walk development over the last few years, and now to see it continue to grow and bring more people in is just exciting for us," said Shane Pappas, General Manager of the Stella Hotel.
The Lake Walk Innovation Center is expected to start renting space to corporations by the end of Quarter 1 next year.