Research development

Pennovation Works adds another facility with mixed research, development and biofabrication space

Those in Philadelphia’s life sciences sector have long been calling for more space to accommodate the rapidly growing industry.

We learned late last year that demand for life science labs and facilities was at an all-time high and developers were trying to keep up. Philadelphia has an existing inventory of 10 million square feet in life sciences with many projects in development that would add to that number.

A CBRE A December report showed there were 61 tenants looking for laboratory space and life science facilities, a nearly 40% increase in demand for space from there. one year old.

Walk in: Renovation works‘ the most recent project of 365 million dollars. Longfellow Real Estate Partners announced this week that it has won a bid to expand the 23 acres, University of Pennsylvania-research and innovation center affiliated with Grays Ferry. The two new buildings, intended to adjoin the existing Innovation Center at the complex at 3401 Grays Ferry Ave., are expected to be completed in the fourth quarter of 2025.

The development would be a 455,000 square foot project, with 387,000 of those square feet earmarked for R&D and 68,000 earmarked for biomanufacturing space.

The Pennovation Works campus. (Courtesy picture)

The new development will be spread over two six-storey buildings and will also offer flexible laboratories and offices. The facility will have rooftop access with views of the Philadelphia skyline and the Penn campus, and will share amenities with the entire Pennovation Works campus, Longfellow said.

Ed Datz, Penn’s executive director of real estate, facilities and services, said the project was born out of a desire to meet the demands of graduate businesses at the site and to be able to accommodate new entrants into the Pennovation ecosystem. . Approximately 70 companies and 400 people are currently located at the Pennovation Center and its Inventor office building.

“The Longfellow development includes manufacturing capability that further expands Pennovation Works’ offering,” he said. Technically by email. “We see this as additional capacity to support our ecosystem and the innovation/life sciences ecosystem of Philadelphia and surrounding regions.”

An aerial view of the new Pennovation Works facility. (Courtesy picture)

Penn Senior Vice President Craig Carnaroli supported this notion, saying that the pace of innovation coming out of academia with scientists”generating a record number of new FDA approvals” warranted more space.

“We also have the technology transfer policies to align with industry to bring life-saving new therapies and treatments to market,” Carnaroli said. “And, with Pennovation Works, we operate a campus where these ideas can be taken to business.”

The project is Longfellow’s first entry into the Philadelphia market, although he has worked on other life science facilities. This includes its acquisition of 43TEN Laboratories in Queens and its partnership with the New City of York Blood Center to develop Center East, a 13-story, 600,000-square-foot life sciences center in Manhattan that will open next year.

“Attracting Longfellow to Philadelphia and Pennovation is a vote of confidence in Penn’s efforts to grow Philadelphia’s innovation ecosystem and enable Lower Schuylkill’s master plan to thrive,” Carnaroli said.

-30-