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Old Posted Mar 14, 2022, 8:45 PM
mcgrath618's Avatar
mcgrath618 mcgrath618 is offline
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Join Date: Jan 2017
Location: Clark Park, Philadelphia, PA
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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





Drexel, Gattuso Development Partners to build $400M life sciences project
Quote:
A venture that involves Gattuso Development Partners and Drexel University plans to build a $400 million, 500,000-square-foot life sciences research and lab building on the school’s campus in University City.

The 11-story project will be developed at 3201 Cuthbert St., which is currently a recreation field used by Drexel and located next to the Armory.

Gattuso, which is leasing the parcel from Drexel, has also partnered with New York-based Vigilant Real Estate Holdings and Boston-based the Baupost Group on the project. Robert A.M. Stern Architects designed the building.

The structure has been designed to function as a dedicated research building with expansive heights, a special mechanical system used in laboratory research, fully enclosed loading docks, and extra space designated for equipment.

“One of the things recognized by groups around the country is the emergence of Philadelphia as a center for life sciences," Gattuso said. "Historically, there has been two, Boston and the Bay Area in San Francisco. The consensus is Philadelphia will be the third center to emerge and because of that increased recognition nationally, this is a place where people need to be. That is the case for tenants, capital and talent.”

The building is already 55% pre-leased. Drexel intends to occupy 60,000 square feet for academic and research uses and several undisclosed life sciences tenants have signed commitments to lease space in the building.

Drexel plans to relocate the recreational uses that will be displaced by the new building to its Vidas Athletics Complex and new green space will be created at the current site of Myers Hall, which will be demolished.

Groundbreaking for the building is expected this fall with a projected completion by fall 2024.
https://www.bizjournals.com/philadel...Pos=6#cxrecs_s
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Last edited by mcgrath618; Jul 19, 2022 at 6:44 PM.
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