Penn presbyterian Medical Center will be the future anchor tenant of another addition to the Science Center in University City. The institution will occupy 155,700 square feet of space, allowing construction of the tower to proceed, filling in the abundance of parking lot space that dots the district. Penn Presbyterian will located orthopedics and outpatient services in the building. The remaining 88,000 square feet in the tower will be controlled by the Science Center and its joint venture partner, Wexford Science & Technology, and private Baltimore based real estate investment firm.
Noted in the Philadelphia Real Estate Blog, Stephen Tang, CEO and president of the Science Center, said Penn Presbyterian's expansion with the Science Center "strengthens University City's unparalleled reputation as an education and medical hub. The project is expected to be finished in june 2014.
With the progressive expansion of Drexel University, the Science Center, and the University of Pennsylvania, University City is shaping up to becoming a ever more crucial asset to the City of Philadelphia. The district continues to serve as and hub for education and medical research supplying all the necessary resources for an innovation cluster. Future development needs to keep in mind balancing out the abundance of research facilities with housing, commercial and public amenities further establishing the districts identity as a desirable place to call home to both present and future companies and residents.