In recognition of its transformation of an underutilized 19th century 12-acre industrial site into a life sciences and biotechnology park, Gateway Park, LLC has won the 2007 Excellence in Economic Development Award for Urban or Suburban Economic Development from the U.S. Department of Commerce.
At a ceremony held at Gateway Park, U.S. assistant secretary of commerce for economic development Sandy Baruah and congressman James McGovern presented the award to Worcester Polytechnic Institute (WPI) president and CEO Dennis Berkey and Worcester Business Development Corp. (WBDC) president David Forsberg. Gateway Park, LLC is a joint venture of WPI and the WBDC.
The building also houses business and commercial entities, including Mass. Biomedical Initiatives (MBI).The park will total 500,000 s/f space designed for research, loft condos and retail spaces. Gateway Park is part of the 55-acre Gateway redevelopment district.