Signet Development Breaks Ground on New Innovation Project – the University of New Mexico Latest to Develop Living/Learning Community for Entrepreneurs

ALBUQUERQUE, N.M.–(BUSINESS WIRE)–Signet Development officially broke ground this week on a 160,000 square
foot, $35 million six-story building in Albuquerque, New Mexico, that
will house University of New Mexico (UNM) students studying in
entrepreneurial education programs. Called Lobo Rainforest, the project
represents the first phase of Innovate ABQ, located in the planned
innovation district in downtown Albuquerque. The project is scheduled
for completion in August 2017.


“We get really excited with these projects,” Anthony (Tony) Manna,
Signet founder and chairman, said. “Signet’s business philosophy here is
to work with entrepreneurial partners to spur economic development. When
we can help create another generation of entrepreneurs with student
innovation hubs like this, it is exactly what we envisioned. We get
tremendous satisfaction out of creating living-learning communities that
will have an impact on the future.”

In addition to UNM, key project team members include
Dekker/Perich/Sabatini architects and Jaynes Companies’ construction
group. Signet will own and develop the facility through a lease
arrangement with UNM, who will manage and operate the facility.

Along with student apartments, the facility will be home to UNM’s
Innovation Academy and several business startup organizations working to
develop the university’s technologies, including Innovate New Mexico and
STC.UNM’s Joseph L. Cecchi VentureLab business incubator. Other tenants
will include the Air Force Research Laboratory and various retail
outlets.

The project provides students and the wider community with meeting
rooms, collaboration spaces and a café, as well as access to
cutting-edge equipment and technology. The residence portion of facility
will house over 300 students.

Signet Development, which has decades of experience in student housing
projects, opened doors on another innovation project with the University
of Florida in Gainesville last year.

“Every project is unique and innovative,” said Jason Perry, Signet
Development’s Managing Director, who coordinated the project for Signet.
“The University of New Mexico had their vision coming in and we
partnered together on a unique solution. The bottom line is that UNM
students now get an extraordinary opportunity to move their ideas from
the classroom to the real world in one setting. UNM has been a great
partner.”

Signet CEO Ken Krismanth says this innovation model allows Signet to
take an active role in not only the project’s development, but also its
long-term success in the community and beyond. “At the end of the day,
we’re looking for opportunities to invest in and support, and not just
in terms of dollars. We want to foster the growth of ideas and startups,
and we want to invest in them.”

About Signet Development

Signet Development is a premier provider of turnkey development,
finance, and project management services with a wide range of experience
creating solutions for institutions of higher education, healthcare
providers, and public-private partnerships. As strategic real estate and
capital partners, Signet delivers creative financial solutions for
clients while also handling tactical planning, global project
coordination, construction management, and facility management for each
project. Signet has successfully developed and currently has in progress
more than $4.5 billion in real estate development, finance, and
construction throughout the country. Visit www.signetdevelopment.com.

Contacts

Signet Development
Media Contact:
Joel Maas, 330-762-9102
jmaas@signet-enterprises.com1

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