The state Building Commission Friday voted 7-1 to finance a proposed $381 million biotechnology research institute at UW-Madison.
The 450,000-square-foot Wisconsin Institute for Discovery would be built on a wedge of land bordered by University and North Randall avenues and West Johnson and North Charter streets, just north of Union South.
The commission also approved $137.5 million in new bonds for the project that will become available over the next 10 years and reallocated to the institute $50 million of previously approved bonding, said Rob Kramer, secretary of the commission.