The former B&M Baked Beans factory in Portland, Maine, will soon be the permanent home to Northeastern University’s Roux Institute.
Spectrum News reports that the university has broken ground on a 300,000-square-foot campus that will be the institute’s permanent home. For now, the university leases space for the institute.
The institute is geared toward innovation in the tech sector by educating graduate students on emerging technology and acting as a business incubator for tech startups.
The institute first came to Maine in 2020, backed by a $100 million investment from Maine technology entrepreneurs David and Barbara Roux.
About 800 students are enrolled at the institute, and Chris Mallett, the institute's CEO, says the university expects that number to soar to 2,000 enrolled students when the project is finished in 2028.
The institute has helped 70 companies get off the ground in the last three years, and the university expects to see 50 to 100 new startups operating on the renovated property.
When construction is completed, the new campus will include the 58,000 square-foot former baked beans factory, which will be renovated. Next to it, in what is now an empty lot, a 245,000 square-foot building to be called the Alfond Center will be erected.
Mallett said construction is expected to be complete in late 2027 or early 2028. The university expects to begin holding classes there in 2028.
