Philadelphia’s Investment in Innovation
Philadelphia is experiencing an impressive acceleration of development, powered by renowned educational institutions, research centers and pioneering companies that have transformed the city into what the Brookings Institution has called a “top knowledge hub in the U.S. and Europe.” Learn more about inventive projects on the horizon in Philadelphia.
This 20-year, three-and-a-half-billion-dollar collaborative project between Drexel University and Brandywine Realty Trust will connect to Philadelphia International Airport and the major cities along the Northeast corridor, making it a key innovation hub on the East Coast. The project will span 14 acres when completed and will feature multiple public spaces and several new high-rises to be occupied by labs, hotels, retail spaces, residential units and offices. Already completed is Drexel Square, a 1.3-acre elliptical park across from 30th Street Station, which opened in June, 2019. Later in 2019, the former Philadelphia Bulletin newspaper building will be renovated as the flagship for the project. The 1950s-era building was designed by George Howe, the architect of the PSFS Building (now the Loews Hotel), the first International Style building in the U.S. The plan for the ground floor is to be reserved for retail and restaurants.
This exciting project further unites Philadelphia’s Center City business district with University City’s rapidly expanding research hub and brings new jobs to the neighborhood, while retaining the city’s top-notch student population after graduation.
Penn’s FDA-Approved CAR-T Cell Therapy – Home to the first gene therapy approved by the FDA, Penn Medicine is leading the world in immunotherapy research. A personalized cellular therapy, CAR-T cell therapy trains healthy cells to hunt down and eliminate cancer cells.
The Pavilion – a sophisticated and ambitious healthcare building project will result in a one-and-a-half-billion-dollar hospital of the future that will serve as the flagship of Penn Medicine. The 17-story hospital will equal the length of two football fields, with 500 private patient rooms, 47 operating rooms and one acre of green space. The high-tech center will offer hybrid surgical centers and tele-medical functionality. Anticipated opening is 2021 and is being designed by Sir Norman Foster, architect of the Comcast Technology Center.
A joint project between Amtrak, Brandywine Realty Trust, Pennsylvania Department of Transportation, Drexel University and SEPTA, the six-and-a-half-billion-dollar, 35-year district plan will enhance Amtrak’s third-busiest station, increasing its capacity to a projected 20 to 25 million passenger trips a year. The project will include 40 acres of open space and 18 million square feet of development, creating a mixed-use neighborhood that sits atop 88 acres of rail yards.
Adminstered by Techstars, an organization that runs close to 40 accelerators around the world, the Accelerator was created to offer a concentrated dose of business teaching, mentoring and networking over a 13-week period. Philadelphia is one of the only cities in the country to have a public-private seed fund dedicated to startups.
One-billion-dollar, 6.5 million-square-foot project between the University City Science Center and Wexford Science + Technology that features public and mixed-use spaces, including residential units, retail office, lab and clinical space, with the goal of developing a live-work community.
The latest development at 3675 Market Street is the tallest commercial life sciences and research building in Philadelphia and contains the largest contiguous shared office space in Philadelphia. In early 2019, Cranbury, NJ-based Amicus Therapeutics announced that it would establish a 75,000 square foot Gene Therapy Center of Excellence at 3675 Market, employing 200 people. uCIty Square is also home to Avid Radiopharmaceuticals, a wholly owned subsidiary of Eli Lilly; Invisible Sentinel, recently acquired by France-based bioMérieux, as well as the manufacturing facilities of Spark Therapeutics’ which was recently acquired by Roche.
“Command central” for innovation activities at Jefferson, including the Jefferson Institute for Bioprocessing – the first and only in North America. The Accelerator serves as a platform to engage and unleash creative, entrepreneurial talent.
Opened in September 2016, the Pennovation Center’s goal is to serve society through the advancement of knowledge. The 58,000-square-foot business and technology incubator and lab is designed to foster entrepreneurial activity and help bring research discoveries to market.
Home to Johnson & Johnson’s JPOD, a networking hub that provides training, mentoring and networking programs for local entrepreneurs and accelerates early-stage healthcare breakthroughs and innovations.
Independence Health Group (parent of Independence Blue Cross) and Comcast launched a patient-centered technology and communications platform to improve the overall efficiency and experience of the care delivery process between providers and patients.
The Public Health Campus at Provident, set to open Spring 2020, will be a 290,000 square foot integrated health and public health campus that is responsive to the holistic needs of individuals and their families, integrating health services with retail and a usable community space.
Philadelphia’s community of commerce, innovation and academic excellence has attracted talented students, scholars, researchers, professionals and entrepreneurs, providing a wealth of industry leaders and experts to enlist as speakers or panelists for your meeting or event.
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