Worcester Polytechnic Institute (WPI) has named Holyoke-based O’Connell Development Group (ODG) to develop the next building at Gateway Park at 50 Prescott St. in Worcester.

WPI will ground-lease one of the park’s four remaining pad-ready sites to ODG, which will finance, develop, construct and own the new building, according to a statement. A groundbreaking date is scheduled for April.

"This is an important step for WPI, for Gateway Park and for the continued economic growth of Worcester and Central Massachusetts," said WPI President and CEO Dennis Berkey. "With the ongoing support of our city, state and federal partners, coupled with the expertise of the O’Connell Development Group, we are looking forward to advancing the mission of Gateway Park as a center of research, commerce and innovation that creates a potent economic development engine for this region."

The new Gateway Park building will be a four-story, 92,000-square-foot facility designed to achieve LEED certification, according to a statement. The $30 million project will contain laboratory, educational and office spaces. It will create 120 construction jobs and 140 permanent jobs when the building is fully occupied.