PHILADELPHIA | 3201 Cuthbert Street | 251 FT | 12 FLOORS
AND MYERS HALL IS GETTING DEMOLISHED LET'S GOOOOO
Title: 3201 Cuthbert Street Project: Lab/Office Architect: Robert AM Stern Developer: Gattuso & Drexel University Location: 3201 Cuthbert Street, Philadelphia, PA Neighborhood: University City District: West Philadelphia Floors: 12 floors Height: 251 feet https://media.bizj.us/view/img/12217...rendering1.jpg https://media.bizj.us/view/img/12217...rain-view1.jpg Drexel, Gattuso Development Partners to build $400M life sciences project Quote:
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Fantastic project! UCity is on absolute fire!! :cheers::notacrook:
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Article from Technically
Amid a Philly lab space shortage, Drexel is building a 500K-square-foot life sciences hub
Read/view more here: https://technical.ly/civic-news/drex...s-development/ |
Though, I have to wonder.
The article says that this is 55% Leased. With delivery in 2024. Meanwhile, WTF is Brandywine doing????? Schuylkill Yards keeps lagging behind! |
What makes Brandywine's foot dragging all the more annoying is that they own the primo lots in and around 30th Street, a current deadzone that has improved considerably in recent years but still has long stretches of blank walls and empty lots. The SY lots are key to giving the area a unified, pedestrian friendly vibe.
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Some of the recent proposals are for Q4 '22 or Q1 '23 starts which gives Brandywine time to start something that is already "in motion" like the 2nd JFK building. Either way, Brandywine's inaction continues to be surprising given all of the other action around them and the continued reports (e.g. CBRE) that demand outweighs supply in the Philadelphia area.
Based on the general in-office work environment and the maturity of the biotech industry in Philadelphia I think it is going to be hard for them to find an anchor tenant that will take 250k+ sq feet. Unless there is another Philadelphia biotech ready to make a move into the Spark category. It sounds like many of the new/proposed buildings are comprised of tenants with less than 100k sq ft. Someone correct me if I wrong. |
Well, we know Brandywine is building 3025 JFK which has 200,000 square feet of life sciences space, and they're about to start 3151 Market which has 417,000 square feet of life sciences space...
Maybe with them building 600K of life sciences space, PLUS this Gattuso building, the 3801 Chestnut building, 3.0 University Place, One uCity Square and 3838 Market, PLUS other stuff going on in uCity and the Navy Yard... maybe they decided to just pump the breaks to see how this all absorbs? At the very least, maybe they're working on getting 3001 JFK up and running too. If Dechert is moving to this building, they could put them in the middle floors, and turn the first floors and top floors into Life Science space? The floor plates seem large enough to me. |
^ True. With all these recent announcements, it may very well be prudent for Brandywine to take a wait and see approach. But prior to these new projects, Brandywine was in a much much better position to develop their plans and be first to market; they had the plans, owned the properties, and probably have a team dedicated to getting leases. And all of a sudden a rash of new developers, even out of towners, were able to jump ahead of Brandywine? Certainly makes you wonder.
Is Brandywine being too conservative after years of being a bit of trailblazer? On the other hand, they should know the market better than most developers and of course have more knowledge than us. I'd be very interested to understand their line of thinking. |
How About Another New Lab for University City?
Current site: https://www.ocfrealty.com/wp-content...IMG_7401-1.jpg Renderings: https://www.ocfrealty.com/wp-content...ccexpress.jpeg https://www.ocfrealty.com/wp-content...ert-aerial.jpg Read/view more here: https://www.ocfrealty.com/naked-phil...niversity-city |
Love the design, but is this taking out a park or a parking lot?
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Per Drexel, Myers Hall (down the street) will be demolished and replaced with outdoor recreational space. |
Myers is finally gonna die, I never thought this day would come. Great lot for green space too, given the location next to the other dorms, Race Lawn, the community garden, and Drexel Park. This is an awesome project, can't believe I'm just noticing this thread! Building looks sharp.
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This is what the fourth time Myers was supposed to be demo'ed?
I'll believe it when it happens. :laugh: |
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Wow 250 feet on only 12 floors!
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I was disappointed by the removal of student rec space at my old school, even knowing they plan to add some by tearing down Meyers.
But now after seeing the CDR I feel better about it. They're adding a lot of retail to 33rd street, and the new Cuthbert Walk looks pretty nice. I also like fancy new buildings haha |
That looks really great!! So glad to see this moving.
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Small update.
Update: More Details for a Glimmering New Lab at 3200 Arch St. https://www.ocfrealty.com/naked-phil...t-3200-arch-st |
Update: More Details for a Glimmering New Lab at 3200 Arch St.
Current site: https://www.ocfrealty.com/wp-content...IMG_7401-1.jpg https://www.ocfrealty.com/wp-content...hUpdate-01.jpg Project renderings: https://www.ocfrealty.com/wp-content...200Arch1-1.jpg https://www.ocfrealty.com/wp-content.../3200Arch2.jpg https://www.ocfrealty.com/wp-content...hUpdate-06.jpg Future "Cuthbert Walk": https://www.ocfrealty.com/wp-content...hUpdate-12.jpg Site plan: https://www.ocfrealty.com/wp-content...hUpdate-04.jpg Read/view more here: https://www.ocfrealty.com/naked-phil...t-3200-arch-st |
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