To help fulfill a long-held vision and meet the demands of a newly awarded $160 million National Science Foundation grant, Innosphere Ventures plans to build a new administrative office building at 232 E. Vine, adjacent to Innosphere 1 and 2.
Innosphere Ventures, a technology incubator for science- and technology-based startup companies, submitted a conceptual design to the city’s planning department for a two-story office building near the corner of Jerome Street and East Vine Drive. The land includes a historic farmhouse that will be preserved and renovated.
If approved, the addition of Innosphere 3 will create the technology hub along Vine Drive — including the proposed Powerhouse II facility at Vine Drive and North College Avenue — long envisioned by the city and Innosphere Ventures. The property is within the Downtown-Innovation/River District zone.
Innosphere purchased the property in 2021 for $1.1 million “not knowing what we would do there. Then this opportunity presented itself,” said Mike Freeman, CEO of Innosphere Ventures.