Lab-enabled space and hotel among initial projects to meet anchored demand
INDIANAPOLIS, November 9, 2026 – 16 Tech Community Corporation today announced that it has opened a national Request for Qualifications/Proposals (RFQ/P) search for development partner services for the next phase of the 50-acre innovation district. The RFQ follows two successful phases of development that include $350 million in vertical development and $88 million in horizontal infrastructure. The national solicitation follows an extensive market study of the district’s remaining 1.4 million square feet of projected vertical development, led by CBRE’s national life sciences team.
Qualified development teams will develop, design, construct and finance multiple product types in support of the 16 Tech’s evolution. The remaining sites are primed to deliver product types missing from the market, including hospitality and lab-enabled graduation spaces. Multiple shovel-ready sites within the mixed-use district are available to respond to demonstrable tenant requirements in collaboration with 16 Tech.
16 Tech and CBRE have identified two initial projects to initiate the next phase of the district’s development:
- A 150,000-square-foot lab-enabled, multi-tenant flexible office space
- A 150- to 200-room full-service hotel
16 Tech is one of the fastest-growing life sciences hubs in the state. Opened in 2021, the district is home to research and academic partners such as Indiana University, Indiana Biosciences Research Institute (IBRI), Purdue University, Indiana University School of Medicine (IUSM), and IU Health, as well as industry leaders and more than 30 biotech and life sciences related companies. 16 Tech boasts 350 companies and 1,200 people working in the district and more than 375,000 visitors annually.
“Indiana’s life sciences sector continues to grow, and 16 Tech is at the center of that momentum,” said Peter Jansen, Executive Vice President CBRE. “With an established ecosystem, modern infrastructure and strong institutional partnerships, the district is uniquely positioned to attract the next generation of life sciences investment.”
A proposed seven-story building with laboratory, office, mixed-use, or innovation that supports graduation-ready, scalable spaces, will be located immediately east of Innovation Building 1, which houses the IBRI, its Future Legends Lab and the Watanabe Conference Center, as well as the Center for Diabetes and Metabolic Diseases at IU School of Medicine and CEOs of Indiana Corporate Partnership.
The hotel property will be located on a Fall Creek frontage site at the south end of the district, providing visiting researchers, corporate partners and event attendees a place to stay within walking distance of the labs, offices, and amenities they are visiting.
“16 Tech is bringing an exceptionally competitive and compelling development opportunity to the market,” said Emily Krueger, president and CEO of 16 Tech Community Corporation. “For almost a decade, we’ve invested in infrastructure, strategic partnerships and community building to create a vibrant environment where research institutions, entrepreneurs, industry leaders and talent come together. 16 Tech is uniquely positioned to capture the growing demand for research, commercialization and innovation space fueled by Indiana’s rapidly expanding life sciences economy.”
The future of the district
The Indiana University Launch Accelerator for Biosciences, a first-of-its-kind academic-industry initiative to strengthen Indiana’s life sciences economy and the headquarters of Heartland BioWorks, Indiana’s federally designated biomanufacturing tech hub, are expected to be complete in 2027. In addition to the two projects in the RFQ/P, six other shovel-ready parcels are available for future investment. According to CBRE, at full build-out in 2035, 16 Tech district operations are projected to:
- Support 4,577 jobs statewide;
- Contribute $800.9 million annually to Indiana’s economy; and
- Generate $49.8 million in annual state and local tax revenue.
Additional priorities for development include:
- Ecosystem integration: Development must physically and programmatically connect to the existing district. Lab and office spaces must be designed for wet-lab-ready infrastructure, with a multi-tenant program that may include shared equipment access, flexible lease suites, and collaboration-enabling common areas.
- Ground-floor activation: Indiana Avenue-facing parcels require retail-ready ground floors. Grocery, food and beverage, fitness, and amenity uses are priorities.
- Institutional capital: A partner with a track record of attracting private institutional capital.
Tenant requirements include collaboration opportunities with 16 Tech, owner/occupant users, economic development opportunities, and other creative public-private partnerships. The site benefits directly from the Opportunity Zone designation, Certified Technology Park designation, and Tax-Increment Financing support/eligibility from local government entities.
Responses are due by December 18, 2026, to CBRE’s Executive Vice President Peter Jansen and Vice President Jeff Merritt, 16 Tech’s real estate and land development advisors. Full requirements are detailed at 16Tech.com/develop-here. The feasibility study and additional support services are provided by Indianapolis-based HRE Advisors.
About 16 Tech
Opened in 2020, the 16 Tech Innovation District is a growing destination for innovation and entrepreneurship and a driver of the tech enablement of the life-sciences and advanced manufacturing industries key to Indiana’s economy. Connected to historic neighborhoods in downtown Indianapolis and intentionally resourced with facilities and programs to foster innovation, 16 Tech is home to 630,000 SF of innovation facilities and amenities (including projects under development). The district boasts office, wet and dry lab spaces and makerspaces, residential, 300+ innovation related entities and 20 restaurants/retailers. At full build-out, 16 Tech anticipates more 2 million square feet of innovation related space that support 4,577 jobs statewide. The nonprofit 16 Tech Community Corporation oversees the district and ensures benefits of economic growth, new investment and job creation extend to nearby neighborhoods as well as the city, the region, and the state. More information can be found at www.16tech.com.
About CBRE
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
