PHILADELPHIA | Schuylkill Yards Future Phases | 1,095 - 375 FT | 70 - 28 FLOORS - Page 100

summersm343 · #**1981** Posted **Dec 17, 2021, 3:01 PM**

Spark Therapeutics plans $575M gene therapy manufacturing plant in University City

Quote:

Spark Therapeutics Inc. unveiled plans Friday to develop a $575 million, 500,000-square-foot gene therapy manufacturing plant on Drexel University’s campus in University City.

The 8-year-old company, acquired by Roche two years ago for $4.3 billion, signed a 99-year ground lease on a surface parking lot at 30th and Chestnut streets. Terms of the transaction were not disclosed.

"When we closed our deal with Roche, the whole idea was to be able to invest meaningfully in research and development and manufacturing to realize the full potential of gene therapy," said Jeffrey Marrazzo, co-founder and CEO of Spark. "This investment will enable us to assemble some of the best minds in gene therapy.… What's cool about this facility is we will manufacture all of the gene therapies for the entire Roche group here in Philadelphia."

Roche, a global health care company based in Basel, Switzerland, has grown to be the world's 29th largest company based on its $357 billion market capitalization. It intends to include Philadelphia on its list of worldwide product development sites.

Marrazzo said Spark, now at about 800 employees, expects to double its headcount over the next five years, with the manufacturing plant housing "north of 500" workers — a mix of new jobs and transfers from other locations.

With this latest project, Spark — spun out of Children's Hospital of Philadelphia in 2013 — will eventually occupy an urban campus totaling upwards of 1 million square feet in University City and further solidify that neighborhood, and Philadelphia, as a hub for life sciences and ground-breaking innovation.

Marrazzo noted the proposed manufacturing plant when combined with the company's other Philadelphia locations in University City will create a de-facto production line where gene therapy research, process development, and manufacturing will take place near each other.

Spark has a small manufacturing operation at 3737 Market St., where the company has 28,000 square feet of space that includes its corporate headquarters. It also occupies 58,587 square feet at 3000 Market St. as well as the Bulletin building at 3025 Market St., which is a 282,709-square-foot building.

"I don't get too excited but this feels like a real moment," said John Fry, president of Drexel. "This is not just a real estate deal. It's something far more and expansive of that."

Spark's new manufacturing facility is not part of either Schuylkill Yards or uCity Square.

"In addition to anchoring Schuylkill Yards, putting a $600 million into a manufacturing facility on what has been a vacant lot since Abbott's Dairy closed is quite wonderful," Fry said. "It brings all of the institutions closer together."

The university plans to eventually establish the Drexel Spark Institute, which will be an integral part to Drexel co-op program. It will expose students and faculty to the groundbreaking work and research Spark is doing and prepare a workforce for those life sciences jobs.

Construction of Spark’s new gene therapy innovation center is expected to start in the fourth quarter of 2022.

Article behind paywall here:
https://www.bizjournals.com/philadel...ia-drexel.html

Lincolnlover2005 · #**1982** Posted **Dec 17, 2021, 3:58 PM**

What about the supertall!?

TK2001 · #**1983** Posted **Dec 17, 2021, 3:59 PM**

Patience

3rd&Brown · #**1984** Posted **Dec 17, 2021, 4:07 PM**

A 500K sf lab building could be quite tall. The lot in question is only a half block deep as Ludlow cuts the N-S block between Chestnut and Market in half.

How big is a floor anymore anyway? If each floor was 25K square feet that's a 20 story building. With the ceiling heights we see today that could be 400 feet.

700 Level · #**1985** Posted **Dec 17, 2021, 4:20 PM**

Quote:

Originally Posted by summersm343

Spark Therapeutics plans $575M gene therapy manufacturing plant in University City

Article behind paywall here:
https://www.bizjournals.com/philadel...ia-drexel.html

Very exciting news - this could be extremely impactful and $575m is a big number. But I have to admit - I don't even know what a building that is dedicated to this type of manufacturing even looks like. Does anyone have ideas or any comparatives?

summersm343 · #**1986** Posted **Dec 17, 2021, 5:06 PM**

I think we need to be patient to see what the development plan is for 3001 Chestnut. Remember, Spark is leasing 500,000 sq feet. That doesn't mean that's the entire building. All preliminary plans, renderings and massings we've seen for 3001 Chestnut had a very large podium that spans the entire block topped by one or two towers. It's clear they've been planning the podium to be lab/life sciences manufacturing space from the beginning.

I understand these plans were a part of "Schuylkill Yards" and now they're saying this new development is technically not Schuylkill Yards, but whatever. Drexel is the major player in Schuylkill Yards anyways. It's certainly possible they can top the lab space with a residential tower, or with both a residential and hotel tower like the plans always were for this site. So, let's wait to see until the plans are released on what they're planning here.

Examples from what we've seen:

Podium topped by two towers right behind Evo:

Podium topped by one tower right behind Evo:

summersm343 · #**1987** Posted **Dec 17, 2021, 5:08 PM**

Interestingly enough, here's an updated Schuylkill Yards site plan from Brandywine's website. Looks like 3001 Chestnut is no longer officially a part of Schuylkill Yards:

https://www.brandywinerealty.com/schuylkill-yards

summersm343 · #**1988** Posted **Dec 17, 2021, 5:09 PM**

Quote:

Originally Posted by Lincolnlover2005

What about the supertall!?

Still probably a few years out.

summersm343 · #**1989** Posted **Dec 17, 2021, 5:28 PM**

Spark Therapeutics to build $575 million gene therapy center on Drexel campus at 30th & Chestnut Sts.

Quote:

Spark Therapeutics, a Philadelphia-based gene therapy company, on Friday said it plans to invest $575 million to build a new, state-of-the-art laboratory and manufacturing center on Drexel University’s campus sometime in the fourth quarter next year.

Through a 99-year ground lease of Drexel University’s F Lot at 30th and Chestnut Street, Spark’s new 500,000 square-foot center will mean at least 500 jobs to start, and is expected to expand to 1 million square feet, said Jeff Marrazzo, chief executive officer and co-founder of Spark Therapeutics.

“Through this significant investment and plans to more than double our physical footprint, we’re poised for continued growth as we seek to develop the next generation of genetic medicines as a member of the Roche Group,” said Marrazzo, chief executive officer and co-founder, Spark Therapeutics.

Since co-founding Spark eight years ago, Marazzo said, “Philadelphia has been part of our company’s DNA and we’re proud to continue to call Philadelphia home for many years to come.”

Spark employs 800 people and expects to double that number over the next five years, he said.

The initial $575 million investment will outfit a 500,000 square foot shell with suites for manufacturing, office and lab space.

Spark projects a total buildout of 1 million-square-foot on Drexel’s campus, and the anticipated 500,000-square-foot, multi-story building will serve as one of Roche’s many product development sites.

For Drexel University, this potentially expands the university’s co-op program, as well as brings to life its ambitious plan to develop Schuylkill Yards in University City.

For Drexel’s president John Fry, the deal caps a decade-long conversation with Marrazzo and real estate developers to convert University City into a business district for innovation.

While at Drexel, Fry partnered with Brandywine Realty Trust to launch the multibillion-dollar project to turn parking lots and industrial buildings between Drexel’s campus and 30th Street Station into a neighborhood of businesses, retailers, parks, and residential towers, called Schuylkill Yards. Construction has begun on the West Tower, which will include residential, office, and retail space.

“Perhaps two or three years ago we started to recruit Spark to come to Schulykill Yards, and they took over the old Bulletin Building,” just west of the 30th Street Amtrak station.

“That led to further conversations about Spark’s expansion and creating its own campus within this innovation district,” Fry said. Marrazzo approached him with the idea for a manufacturing site, and Drexel wins financially with a pre-paid 99-year lease. Terms weren’t disclosed.

Read more here:
https://www.inquirer.com/business/dr...-20211217.html

CleetMcDougle · #**1990** Posted **Dec 17, 2021, 5:35 PM**

Don't mind 3001 being given to someone who is going to fill that spot. Either way this is great news for the area. And gives Schuylkill Yards more focus on that elusive supertall that will inevitably become a 400 footer

PHLtoNYC · #**1991** Posted **Dec 17, 2021, 5:51 PM**

Awesome news either way! Another big step in solidifying Philadelphia as a top Life Sciences hub.

Zapatan · #**1992** Posted **Dec 17, 2021, 6:17 PM**

Excellent news

Quote:

Originally Posted by CleetMcDougle

And gives Schuylkill Yards more focus on that elusive supertall that will inevitably become a 400 footer

That would be a bummer, what makes you say that?

summersm343 · #**1993** Posted **Dec 17, 2021, 7:04 PM**

Quote:

Originally Posted by Zapatan

Excellent news

That would be a bummer, what makes you say that?

Just negadelphians being negative. Pay them no mind.

CleetMcDougle · #**1994** Posted **Dec 17, 2021, 7:16 PM**

Quote:

Originally Posted by summersm343

Just negadelphians being negative. Pay them no mind.

Was more tongue-in-cheek Summers, obviously I would love a supertall here!

iheartphilly · #**1995** Posted **Dec 17, 2021, 7:46 PM**

Sparks is bringing momentum to this area with its manufacturing facility and the hope is that it will catch the attention of the industry and get the focus of executives in this space to see what the area has to offer. Got to be plenty of PhDs studying gene therapy and with Penn/Drexel within striking distance, it is a perfect storm to start and grow a company in this space.

And, to that end, I think we could see a multi-use supertall sooner rather than later if other companies follow...

Jawnadelphia · #**1996** Posted **Dec 18, 2021, 1:41 PM**

Not to be a Debbie-downer for the folks who want this to be tall, but I doubt the manufacturing building (and lab/office) will be that tall--this is a large parking lot, large enough for a wide-broad building. For instance, in Wilmington, Incyte Pharma's new lab/office building in only 6 floors tall, and roughly 200,000 square feet. When it comes to pharma manufacturing and laboratory space, I've noticed these building are usually wider, rather than taller, and really emphasize function over architectural form. For example, the Incyte building has long skinny windows due to laboratory requirements (minimum sunlight exposure).

edit: Brandywine's 3151 Market building is 14 floors planned, 472,000 sq. ft, and labs/office/retail.

Like summers said though, we will have to see what exactly Spark has planned here, and the sq ft break down for each use.

chimpskibot · #**1997** Posted **Dec 18, 2021, 4:43 PM**

Quote:

Originally Posted by Jawnadelphia

Like summers said though, we will have to see what exactly Spark has planned here, and the sq ft break down for each use.

Yeah this is a really good point. In fact the architecture of the building will most likely be pretty hostile in comparison to the rest of SY and thus why it has been removed from the master plan. hopefully they can put the lab space in a basement or 2nd-3rd floor level to allow for windows on the ground floor.

gjrip · #**1998** Posted **Dec 20, 2021, 2:25 AM**

Quote:

Originally Posted by summersm343

Spark Therapeutics plans $575M gene therapy manufacturing plant in University City

Article behind paywall here:
https://www.bizjournals.com/philadel...ia-drexel.html

Wow this is huge news. Such a significant tenant will hugely impact the entire Schuylkill Yards project, I'd bet. Great for Drexel too.

summersm343 · #**1999** Posted **Dec 20, 2021, 5:12 PM**

Gene Therapy Research Facility Coming Soon Near 30th Street Station

Current site:

Read/view more here:
https://www.ocfrealty.com/naked-phil...street-station

Zapatan · #**2000** Posted **Dec 20, 2021, 9:24 PM**

Quote:

Originally Posted by summersm343

Just negadelphians being negative. Pay them no mind.

Yea, though in any case that phase likely wouldn't start for a while, correct? Would be insane to have an 1100 footer in that area