Philadelphia block overhaul responds to rapid growth in life sciences sector

Located in the Center City district, the 2300 Market Street redevelopment will accommodate more than 18,581 m2 (200,000 sf) of space dedicated to the city’s growing life sciences sector. Photo courtesy Breakthrough Properties/KieranTimberlake

Philadelphia’s 2300 Market Street block will soon be transformed into a new, sought-after research and development complex, designed by local architecture firm KieranTimberlake.

Located in the Center City district, the redevelopment will accommodate more than 18,581 m2 (200,000 sf) of space dedicated to the city’s growing life sciences market. The plans result from a joint venture between Breakthrough Properties, Tishman Speyer, and Bellco Capital.

Greater Philadelphia ranks first in the nation for cell and gene therapy grant funding, and is home to more than 730,000 professionals with degrees in engineering and science.

The redevelopment is positioned to capture the demand for modern lab space throughout the city, which cannot be met by the existing supply-constrained life science market. The project site is situated adjacent to the University of Pennsylvania and Drexel University, and is within a short walk of some of the Philadelphia’s most recognized academic medical centers.

The complex is scheduled to be ready for occupancy in 2024.

Leave a Comment

Comments

Your email address will not be published.