PIDC Announces Landmark Life Sciences Development Opportunity in Philadelphia

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PIDC, Philadelphia’s public-private economic development corporation, is seeking partners to shape the next phase of growth and development on Philadelphia’s Schuylkill River with a landmark 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 planning, delivering, and managing an extraordinary campus for bioprocessing across two sites on Southwest Philadelphia’s Lower Schuylkill riverfront. PIDC seeks a developer that is committed to minority participation on the development team and that presents concepts that meet PIDC’s focus to create both 21st century manufacturing jobs and equitable inclusion strategies for the surrounding communities.

Philadelphia Real Estate Round-Up 2021

Image showing various photos of Philadelphia, with text saying "Philadelphia Real Estate Roundup"
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In 2021, Philadelphia continued to prove why it’s an up-and-coming life sciences and biotech cluster. Current reports state the city received $1.23 billion in National Institute of Health (NIH) funding in 2021 — and that number is expected to be bigger once finalized, said Lauren Gilchrist, Managing Director of Research at Longfellow Real Estate Partners.

Philadelphia’s Vacant Budd Plant Becomes a Biomanufacturing Center

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The Plymouth Group, which owns the property, has partnered with Centerbridge Partners, L.P. to turn the former Budd Plant in Philadelphia into a facility that will support biomanufacturing efforts of companies across Cellicon Valley. The new site will position Philadelphia as a key lynchpin in biomanufacturing and continue the city’s growth as one of the top biopharma hubs in the United States.