University City Economic News: Science Center to Grow

According to the Philadelphia Business Journal, the Science Center in University City is advancing a major $600 million development plan that would add 1.85 million sq. ft. of space and more than double the amount of space it currently maintains. The plan aims to establish the Science Center as a premier urban, East Coast research park that can accommodate and cater to start-up bio-tech, high-tech and other nascent companies and provide an environment conducive to growth and sustainability. The Center currently maintains 1.7 million sq. ft. of space in 13 buildings near Market Street in University City. In all, the master plan proposes six new buildings, with retail, parking, and residential components in addition to lab and office facilities. Roughly 80 percent of the six proposed buildings will be finished by 2010.