science center in the news

Cambridge Innovation Center signs big lease in University City

December 15, 2016  |  Philadelphia Business Journal

Cambridge Innovation Center has signed onto 127,000 square feet at UCity Square in Philadelphia.

 

Known as CIC, the Boston-based company will occupy space at 3675 Market St. in University City. It operates in a similar fashion as a co-working space and incubator, providing flexible space to entrepreneurial startups and other companies. Since its founding in 1999, companies that have been housed in CIC space have raised more than $2.5 billion and added an estimated 40,000 jobs to the economy, according to the company's website.

 

As part of the arrangement with CIC, the University City Science Center will relocate and expand its headquarters into 50,000 square feet at 3675 Market. The Science Center will also triple the size of Quorum, a so-called “entrepreneur’s clubhouse” within the Science Center that provides meetings, events, and programming for UCity Square as well as build a larger FirstHand Lab that will expand its STEAM education classes.

 

The Science Center has received $2.5 million from the state’s Redevelopment Assistance Capital Program to help finance the Science Center’s administrative offices, programs and facilities, including the expanded Quorum space.

 

Wexford Science + Technology and the University City Science Center are partners in UCity Square, a mixed-use community in University City that is focused on innovation.

 

Aside from Cambridge, CIC has locations in Boston, Miami, St. Louis and Rotterdam, Netherlands. Among some companies that have been housed in its space are Android, HubSpot, Tokai Pharma and GreatPoint Energy.

 

The 14-story building at 3675 Market totals 345,000 square feet and is half pre-leased. It is scheduled to be completed by the second quarter of 2018. It being developed by a partnership among the Science Center, Wexford Science and Ventas.