A rendering of the proposed 11-story tower at 3737 Market Street. The development is a project between University City Science Center and Wexford Science & Technology. Photo courtesy of University City Science Center.
In yet another move to make University City an entrepreneurship hub, the University City Science Center announced that next month construction will begin on a 273,000 sq.ft. 11-story building that will house medical facilities and office and lab space for startups.
The Science Center and its partner, Baltimore-based Wexford Science & Technology, plan to spend more than $15 million on the project, reports the Philadelphia Inquirer.
From the press release:
Penn Presbyterian Medical Center will occupy approximately 155,700 square feet for orthopedics and outpatient medical facilities. In addition, Good Shepherd Penn Partners will occupy an additional floor and a half in the building. Subject to Penn Presbyterian’s expansion rights, the Science Center and its joint venture partner, Wexford Science + Technology, will control the remaining 88,000 square feet in the building for other uses related to the Science Center’s mission of supporting tech-based innovation, entrepreneurship and economic development in the region. [more]
Construction is supposed to finish by mid-2014, according to the release.
Find more coverage on the Philadelphia Inquirer’s business blog PhillyDeals.
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