M id A tlantic Real Estate Journal — Pennsylvania — June 17 - July 21, 2022 — 15B
www.marej.com
P ennsylvania
Biotech campus solicitation offers opportunity for development of up to 1M s/f in bio cluster PIDC & Colliers announce landmark life sciences development opportunity in Philadelphia
HILADELPHIA, PA — PIDC , Philadelphia’s public-private economic development corporation, is seeking partners to shape the next phase of growth and de- velopment on Philadelphia’s Schuylkill River with a land- mark development opportunity for up to 1 MSF of state-of- the-art cell and gene therapy (CGT) manufacturing. PIDC is initiating a process that is open to responses from prospective partners – either developers or end-users – capable of plan- ning, delivering, and manag- ing an extraordinary campus for bioprocessing across two sites on Southwest Philadel- phia’s Lower Schuylkill river- front. PIDC seeks a developer that is committed to minority participation on the develop- ment team and that presents concepts that meet PIDC’s fo- cus to create both 21st century manufacturing jobs and equi- table inclusion strategies for the surrounding communities. “At PIDC, we are thrilled to be offering this incredible op- portunity for critical biomanu- facturing to allow the cures being discovered in Philadel- phia to be developed and manu- factured here in Philadelphia. The Lower Schuylkill Biotech Campus is an opportunity to complement our ecosystem of discovery and bring life- changing therapies to market. This new campus will drive job creation and our continued growth as an elite U.S. bio city – bringing the promise and po- tential of life sciences to many,” shared Anne Bovaird Nevins , president of PIDC. This developer solicitation comes at a time of tremendous momentum and excitement in Philadelphia’s life sciences ecosystem. More than 45 cell and gene therapy development firms have been established in the Philadelphia region and in- vestment is at an all-time high. The Philadelphia region has been the recipient of $1.4B in NIH grants and $2.4B in ven- ture capital funds last year and we saw an almost 500 percent increase in venture capital funding in the last 18 months – contributing to the success of six FDA approved therapies with research origins in the region. In 2020, Philadelphia claimed nearly a quarter of all cell and gene therapy invest- ment funding nationwide. “Philadelphia is home to 15 world-class medical systems P
born and Philadelphia was the site of the first case of cured cancer this year,” said Anne K. Nadol , director of Commerce for the City of Philadelphia. “Our city has a history of in- novation and productivity. The growth of this sector is on an awe-inspiring trajectory - one that will be a driver of diverse and inclusive economic growth for Philadelphia.” The development opportu- nity, marketed as the Lower Schuylkill Biotech Campus, is offering exclusive devel- opment rights across two distinct “North” and “South” riverfront sites totaling 40
acres. PIDC will consider partners interested in the development of a single uni- fied campus or individual op- tions for development. Each riverfront site is 20 acres, and when combined, the campus can accommodate close to one million s/f of large floorplate development suitable for bio- tech production. The Lower Schuylkill Bio- tech Campus will be an inte- gral component of the Lower Schuylkill Innovation Dis- trict, which consists of a total of 75 acres of sites suitable for biotech companies at every stage of development. MAREJ
Photo Credit: PIDC/Digsau
and the first FDA approved cell and gene therapies. Phila- delphia is the place where the
foundational mRNA research that underpinned the world’s COVID vaccine response was
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