Young Leaders Hard Hat Walking Tour
Development in Center City West, Schuylkill Yards, and University City
Thursday, September 12, 2024
3:00 - 6:00 p.m.
Come see the exciting development happening in Center City West, Schuylkill Yards, & University City. From lab spaces to green spaces, get a sneak peek into key projects at various stages of construction. All attendees will receive a hard hat as a give-a-way.
Attendee take-aways:
- Understanding the shift/demand towards/for lab spaces.
- Gaining insight into the development happening west of center city, bridging the gap between multiple neighborhoods.
- Insight into construction projects at various stages of completion.
Event Schedule:
3:00 – 3:15 p.m. Arrive and Gather at 3201 Cuthbert Street
3:15 – 4:00 p.m. Tour at 3201 Cuthbert Street, developed by Gattuso Development Partners
4:00 – 4:15 p.m. Walk to 3151 Market Street
4:15 – 5:00 p.m. Tour at 3151 Market Street, developed by Brandywine Realty Trust
5:00 – 5:15 p.m. Walk to 2300 Market Street
5:15 – 6:00 p.m. Tour at 2300 Market Street, developed by Breakthrough Properties
Project Descriptions:
3201 Cuthbert Street, developed by Gattuso Development Partners, is a 519,647 rentable square foot, state-of-the-art laboratory building to be situated in the heart of Drexel University’s campus, within the University City science district. Designed by world-renowned Robert A.M Stern Architects, 3201 Cuthbert Street features ground floor retail and restaurant space, eleven stories of research, laboratory and office accommodations, outdoor spaces for tenants, as well as one level of underground parking. The project includes expanded floor-to-floor heights, a state-of-the-art HVAC system specially designed for laboratory research, fully enclosed loading docks, best practice chemical storage space and pH neutralization capability, five service elevators, and generous amounts of space designated for tenant equipment and vertical shaft infrastructure. The project is targeting a LEED Gold certification.
The total project cost is in excess of $440 million. Gattuso Development Partners is partnering with New York-based Vigilant Real EstateHoldings and Boston-based The Baupost Group on the equity financing for the project. The team arranged and closed on $290 million in debt financingfor the project in December 2023, during a tumultuous time in the capital markets.SmartLabs has leased space in the building for their enterprise-grade lab platform; this will be their third geographic location outside of Boston and SanFrancisco. Drexel University has leased space in the building for academic and lab purposes. The building was 45% leased upon commencement of construction. The scheduled completion date is Q1 2025.
3151 Market Street, developed by Brandywine Realty Trust is under construction and slated for completion in 2024. 3151 Market is Philadelphia’s next-generation life science building, meticulously designed with sustainability at its core with state-of-the-art lab space, premier amenities, and a prime location at the center of the region’s flourishing life science ecosystem. The building features 417K SF life science / office space, below grade parking, 18K SF retail / amenity space, and 6K SF of terraces.
2300 Market Street developed by Breakthrough Properties is one of Philadelphia’s most sophisticated life science research facilities with over 225,000 SF of purpose-built lab space. Ideally located at the center of the Market Street corridor, 2300 Market boasts immediate access to both Center City’s vibrant lifestyle offerings as well as University City’s world-leading institutions. This highly-amenitized project features an on-site café and lounge, private outdoor space, as well as a fitness center, complete with locker rooms and showers. The project will also be home to StudioLabs by Breakthrough, curated and managed spaces for hyper-growth biotech companies.
Thank you to our event sponsor:
