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University of Pennsylvania Science Center Plans $600M Expansion Project
To further accommodate and cater to fledgling biotechnology, high-tech and start-up companies, the University of Pennsylvania Science Center in Philadelphia recently announced plans to add 1.85 million sq. ft. through the construction of six new buildings with retail and parking components.
According to media reports, the projects are part of a master plan titled, "Transforming the University Science Center into a Complete Venture Ecosystem." The master plan will roll out in five phases, with the first phase scheduled for July 2006 and consisting of a 150,000-square-foot building to house laboratory and retail space. The next two phases are slated for completion in 2010.
Already one of the nation's largest urban university technology parks, the University Science Center currently maintains 1.7 million sq. ft. in 13 buildings along Market Street in the University City section of Philadelphia. The plan will double the center's capacity and provide scientific laboratories, residential housing, a hotel and conference center, and retail space with parking, according to a Business Wire article.
The University Science Center forms and funds early-stage life science and technology companies and offers services to accelerate commercialization. More information is available at: http://www.sciencecenter.org/