13-Story Flagship Lab and Office Building Under Construction for 2022 Opening
Four projects now under construction at uCity Square totaling 1.35M square feet and $750 million
PHILADELPHIA, PA -- (November 3, 2020) - Wexford Science & Technology (“Wexford”) announced today that Integral Molecular, a growing biotech company, and Exponent (NASDAQ: EXPO), an international engineering and scientific consulting firm, have signed leases in One uCity as construction resumes on the newest lab building at uCity Square, Philadelphia’ premier Knowledge Community for life sciences. Combined with the previously announced lease by Century Therapeutics, more than 100,000 square feet or 25% of the available space is now leased in the only new, ground-up lab building in the Philadelphia market.
One uCity, and the larger uCity Square campus, are being developed by Wexford in partnership with the University City Science Center and Ventas, Inc (NYSE: VTR). uCity Square features 3.0 million square feet of existing lab and office facilities that provide over 200 companies and more than 10,000 researchers, innovators and entrepreneurs a place to live, work, play, learn, and convene, in an environment that provides a connected, inclusive, growing innovation ecosystem.
“We appreciate the confidence that Century Therapeutics, Exponent and Integral Molecular have shown in One uCity and these significant leases continue uCity Square’s growth as Philadelphia’s premier location for talent, innovation, collaboration, and inclusion,” said John Grady, Wexford’s Senior Vice President and Northeast Region Executive. Grady added “As the only ground-up, purpose-built lab building under construction in the Philadelphia market, we will deliver a high-performing lab building that meets the needs of our most demanding life science tenants as well as provide the healthy, safe, sustainable environment that today’s workers are seeking.”
One uCity Square broke ground in January as a speculative life sciences development directly in the heart of University City’s academic, medical and research campuses, offering 400,000 square feet of purpose-built lab and office space, below-grade parking, a full-service restaurant, fitness center, retail space and ample bike parking. It represents $280 million in capital investment by the uCity Square partnership.
The 13-story flagship building, scheduled to open in Q3 2022, will be the first of a series of buildings to be developed around a new, signature public plaza that will feature a neighborhood gathering space and year-round programming. The project is designed by ZGF Architects and is targeting a LEED Silver certification.
“Life Sciences has been a core growth sector for Philadelphia and the region for decades and it is now leading the region’s economic recovery, particularly with innovative cell and gene therapy companies” noted Christopher P. Molineaux, President and CEO of Life Sciences PA. Molineaux also noted that, “uCity Square, with its committed partners and growing companies such as Century Therapeutics, Exponent, and Integral Molecular, is driving the expansion of the innovation ecosystem with new investments, development, talent and discovery.”
The construction of One uCity follows the opening of 3675 Market Street in 2018; an award-winning, 345,000 square foot LEED Gold building that is now fully leased. uCity Square remains one of the most active development sites in the region with three additional significant developments currently under construction by Wexford, and its partners, representing more than $750M of total investment and 1.35M square feet of space, including:
- Powel Elementary-SLA Middle School, an innovative K-8 neighborhood primary school slated for opening by Drexel University and the Philadelphia School District in 2021;
- 3700 Lancaster Avenue, a mixed-use 460-unit apartment project developed by Wexford and GMH Partners, opening in late 2021; and
- Drexel Academic Tower, a 460,000 square foot new academic tower housing Drexel University’s College of Medicine and College of Nursing and Health Professions, opening in 2022.
In addition to the existing 3 million square feet at uCity Square, an additional five million square feet of mixed-use development is approved and planned for the uCity Square campus.
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About uCity Square
Located in Philadelphia’s University City neighborhood, uCity Square is a 8.0 million-square-foot mixed-use community consisting of laboratory, clinical, office, retail, and residential space. As the central hub for medical and life science innovations, particularly in cell and gene therapy, uCity Square is surrounded by top-tier colleges and universities, independent research institutions, world-renowned hospitals, and is a center of connectivity for residents, students, professionals, and entrepreneurs alike. Driving Philadelphia’s economic growth in University City, uCity Square is a dynamic environment for innovation and collaboration between the private sector and top-tier research institutions such as the University of Pennsylvania and its Hospital, Drexel University, Children’s Hospital of Philadelphia and The Wistar Institute. The project is a joint development of the University City Science Center, developer Wexford Science & Technology, and real estate investment trust and capital partner Ventas, Inc. (NYSE: VTR). For more info: www.ucitysquare.com
For more information about the Science Center, visit www.sciencecenter.org
For more information about Wexford, visit www.wexfordscitech.com
For more information about Ventas, visit www.ventasreit.com
About Integral Molecular
Founded in 2001, Integral Molecular is a Philadelphia-grown biotechnology company with a mission to develop biotherapeutics against hard-to-treat diseases by targeting an important group of proteins on the surface of cells. Integral Molecular is among a handful of uCity Square-based companies that have joined the fight against COVID-19 through vaccine and therapeutic research including the development and launch of a test designed to detect neutralizing antibodies in COVID patients and clinical trials. The
company established its first labs in the Science Center’s business incubator in 2001 and has since occupied several buildings in the uCity Square neighborhood. The company’s most recent expansion was into 3624 Market Street in October 2019, effectively doubling its footprint.
About Exponent
Exponent (NASDAQ: EXPO) is an international multi-disciplinary engineering and scientific consulting firm that brings together more than 90 different disciplines to solve engineering, science, regulatory, and business issues facing its clients. For over 50 years Exponent has provided consulting services to corporations, insurance carriers, government agencies, law firms and individuals. The firm has been best known for analyzing accidents and failures to determine their causes, but in recent years it has become more active in assisting clients with human health, environmental, engineering and regulatory issues associated with new products or processes to help prevent problems in the future. The Silicon Valley-based company has offices across the US, Europe and Asia and has had a presence at uCity Square since 2003.
