[SteelTown]

The pace of change is accelerating at McMaster Innovation Park.

The first of eight tenants, who will occupy one-third of the former Camco building on Longwood Road South, is expected to move in by spring. There is currently a 10 to 15 year plan for the park, where ultimately we expect to see as many as 3,000 people and 1.7 million square feet of office, laboratory and meeting space.

The renovation of the red brick building is to be completed by the end of 2008, with new offices, wet and dry labs, conference space, fitness facilities and food concessions. The rear annex of the building will centre on an open atrium that forms the hub of the northeast corner of the park.

Before the work is done, construction for the park's key tenant, the federal government material laboratory, CANMET, will be underway next door to the south, with groundbreaking expected in the autumn of 2008. That building is expected to be complete by 2010 and become home to 100 top federal scientists.

We are also finalizing plans with a hotelier to build a long-stay hotel at the MIP, immediately north of the red brick building overlooking Highway 403.