As Philadelphia's University City Science Center points out on its website, when it was founded in 1963, “the war on cancer had not been declared, the Apollo astronauts had yet to walk on the moon, and the first commercial microprocessor was eight years away.”
Now the renowned urban research park — already the oldest and largest in the U.S. — has announced plans to double the size of its campus and accelerate the creation of a globally recognized innovation district for science and technology in West Philadelphia.
In a joint venture with Wexford Science + Technology, a Baltimore-based biomed realty company, the Center is exploring joint development opportunities for nearly four million square feet of office, laboratory, residential, retail and parking space over the next 10 years. These opportunities include development of the former University City High School site adjacent to the Science Center and the three remaining open parcels on the existing campus: 3400, 3800 and 3850 Market Street.
Wexford has a wealth of experience in this area — they have already developed 4.35 million square feet across 11 knowledge communities built upon a foundation of research, discovery and entrepreneurial activity. Their projects offer the programs, amenities and activities attractive to life science and technology companies and their employees.
To date, the Science Center and Wexford have successfully completed three development projects at 3701, 3711 and 3737 Market Street. These projects include multi-story buildings with lab, office and clinical spaces, structured parking and ground-floor retail spaces.
“Our strong partnership with Wexford enables us to take a proactive and engaged approach to the changing landscape of Philadelphia’s fastest-growing innovation neighborhood,” explained Science Center President & CEO Stephen S. Tang in a statement.
“Combining the vision and commercialization success of the Science Center, the development and programming expertise of Wexford and the intellectual capital and research strength of the institutions in University City, such as Drexel, Penn and Children’s Hospital, this partnership is primed to create a new environment of innovation and collaboration that will expand University City’s role as the fastest-growing economic engine and destination for innovation in Philadelphia and the region,” added Jim Berens, president of Wexford.
Source: University City Science Center
Writer: Elise Vider