|
 |
LEWIS LEVEY:
Build St. Louis' Future
|
By Christine
Imbs
“If you build it, they will come.”
In the movie, “Field of Dreams,” these words inspired Ray Kinsella
to carve a baseball diamond out of a cornfield. In the end, his
effort not only brought back legendary baseball great Shoeless Joe
Jackson, but Kinsella’s late father, as well.
St. Louis also has a sort of “Field of Dreams.” It’s roughly located
in the area between Kingshighway and Grand Avenue. But it’s not
nostalgia that’s the inspiration. It’s St. Louis’ future as a biotech
leader. And if Lewis Levey has anything to say about it, it will
be built and they most certainly will come.
“Nothing is more important to the region right now in terms of economic
development than CORTEX,” he says. “We’re talking potentially thousands
and thousands of high paying jobs, not to mention the many benefits
to the city and state. And we will build, beg, borrow, recruit—whatever
it takes to make St. Louis a life and plant sciences biotech center.”
Levey is president of real estate development for CORTEX which stands
for the Center of Research, Technology and Entrepreneurial Expertise.
A non-profit organization whose goal is developing St. Louis into
a biotech leader, it is a collaboration between Washington University,
Saint Louis University, the Barnes-Jewish Hospital Foundation, the
University of Missouri-St. Louis, the Missouri Botanical Garden,
the City of St. Louis, RCGA and Civic Progress.
“All the founding institutions have agreed to contribute time, effort,
and financial support to CORTEX,” Levey says. “By doing so, they
recognize that, in many respects, they are subordinating their own
individual efforts to the advancement of the greater whole.”
Levey says CORTEX is a response to numerous studies—a major one
by the Battelle Institute—that confirms St. Louis’ potential to
become a world center in the biotech industry.
“Virtually every other city in the country is trying to attract
this industry,” he says. “And what these studies confirmed is that
St. Louis has some powerful attributes that we were not effectively
leveraging.”
For instance, our institutions consistently rank in the top five
in the country for National Institute of Health grants. We have
world class research institutions at both Washington University
and SLU. BJC Healthcare Systems is acknowledged as one of the finest
systems in the country, and the Missouri Botanical Garden has an
international reputation for its research and database of plant
information—TROPICOS. Additionally, UMSL, through its CET, is providing
incubator space to biotech and life sciences firms.
“We also have something that any city attempting to attract this
industry would love to have,” Levey comments. “Not only do we have
these powerful institutions, but they’re also reasonably proximate
to each other. And there is a ‘cluster theory’ that life science
companies like to locate near each other.”
But what these reports indicated St. Louis was lacking was venture
capital and the facilities to house research labs, biotech companies
and their related vendors. But that’s changing rapidly. Today, in
addition to the nationally known firms, St. Louis has four very
good local venture capital groups focused on the life sciences.
And with CORTEX focused on creating the much needed facilities and
recruiting biotech companies, the idea of St. Louis becoming a major
biotech center is becoming more and more likely.
“We now have a geographical area of about 180 acres for which we
have redevelopment rights that will essentially link all our sponsoring
institutions,” Levey says. “Basically, the redevelopment area begins
on the west at the BJC/Washington University Medical School area
on Kingshighway and runs east to the SLU campus, including the CET
on the north side of Forest Park Boulevard. The area also extends
south to the Botanical Garden district.
In addition, the first CORTEX facility has already been built at
Forest Park and Boyle with state-of-the-art research and lab capabilities.
It was constructed in record time—truly below budget.
“The cooperation, effort, and performance we received from all parties
involved was truly exemplary,” Levey adds. “Clayco served as the
design-build contractor, but the accolades extend to all parties
involved, including the subcontractors, design and other consultants,
as well as the individual trade workers. Most everyone realized
that they were, in some respects, 'pioneers' empowered and privileged
to have a role in this very important effort in the St. Louis Region.”
“We’re working hard to improve St. Louis,” Levey comments. “While
we can’t claim to be one of the leading cities right now, our goal
is to eventually be included in that first tier of life sciences
cities such as Boston, San Diego, and the Bay Area.”
Despite the hard work involved with CORTEX, Levey says there is
an element of fun in it. For him that enjoyment comes with working
with his long-time friend, John Dubinsky.
“When John originally asked me to join him, he said it would take
an hour or so a week. Actually, it’s been pretty close to a full-time
plus effort for both of us. Despite the intensity, I am always looking
for opportunities to have some fun and grins with it,” Levey adds.
Dubinsky admits he slightly miscalculated the time involved when
trying to convince his friend to join him. But fortunately, he says
Levey can laugh about it.
“I know many of our friends may not believe it, but Lewis and I
have a great sense of humor,” he says. “So we laugh together at
some of the challenges we face.”
Considering the time and effort they’ve spent with CORTEX, it’s
a good thing they can laugh. Until recently, Levey and Dubinsky
have been doing virtually all of the “heavy lifting” for CORTEX.
And both are volunteers getting no salary or economic benefits whatsoever.
“Before our Executive Director joined us, John and I had been leading
the CORTEX charge. Each day is different….we are trying to raise
money or obtain a grant; working to obtain the redevelopment rights;
trying to recruit companies to CORTEX; working to get the building
constructed; and always marketing and telling the CORTEX story.
And yes, we are having fun. But it’s a bit more than an hour a week.”
Levey and Dubinsky’s friendship began while the two were attending
Washington University in St. Louis studying for their MBAs. Dubinsky
says he and Levey have always related well to each other.
“I liked his style,” he says. “And we’ve been friends for about
40 years now. He’s incredibly shrewd, smart and good with people.
And he has a real desire and interest in helping the resurgence
of St. Louis as a vibrant business community. So when I needed someone
with more expertise in real estate development than I had to help
with CORTEX, I immediately thought of Lewis. He is certainly one
of the foremost real estate developers in the United States.”
A St. Louis native, Levey says he had an early interest in real
estate and construction. After working with several local developers
and homebuilders, in 1973, Levey joined with several others to form
what eventually became Paragon Group. Initially, Paragon Group concentrated
its efforts in developing and managing apartment communities in
the Midwest and Texas. Over the years, the firm expanded to become
one of the country’s preeminent real estate development and management
firms owning office buildings, apartment communities, and other
real estate investments throughout the country. The Company went
public as a REIT on the NYSE in 1994 and, in 1997, merged with another
NYSE REIT, Camden Property Trust, based in Houston.
Levey remains on the company’s board of directors, but relinquished
his day-to-day responsibilities once the merger took place. Today,
his focus is more as a civic leader on CORTEX and selling biotech
companies on the advantages of St. Louis.
“People outside of St. Louis know and appreciate the reputations
of our five founding institutions. When you mention BJC Health-care,
Washington University, Saint Louis University, Missouri Botanical
Garden, and UMSL’s Center for Emerging Technologies, you generally
have their attention. When they learn that we’ve brought these five
institutions together in a focused geographical area, they’re even
more impressed. That’s not to say that they are going to drop everything
and come to St. Louis. There are lots of other cities trying to
attract this very desirable industry. But St. Louis and CORTEX is
a strong, compelling story and we are doing all we can to sell our
program.” |
|
|
|
|
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
|
