Wexford Science & Technology and Partners Cut Ribbon on One uCity Square
400,000 sf Building Opens Over 90% Leased – Anchored by Penn Medicine and Penn Engineering, and Numerous Commercial Tenants
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PHILADELPHIA, PA – September 14, 2023 – Wexford Science & Technology, LLC and its development partners, Ventas, Inc. and the University City Science Center, today celebrated the official opening of its newest building, One uCity Square, with a ribbon cutting and community block party. The 400,000 square foot building, located at 37th & Cuthbert Streets, is the latest addition to the vibrant and growing uCity Square Knowledge Community; a hub of research, academics, innovation, commercial activity, and community inclusion. Governor Josh Shapiro, Mayor Jim Kenney, and many of uCity Square’s tenants, community members, and business leaders were in attendance.
“My Administration is all in on growing the life sciences industry in Pennsylvania – because I know it’s a crucial part to fostering economic growth in Pennsylvania,” said Governor Josh Shapiro. “I want to thank Wexford and all our community partners for their commitment to growing and investing in Pennsylvania. University City is truly an innovation powerhouse – and today’s grand opening of One uCity Square is a prime example of the kinds of investments we want to keep making in Pennsylvania. This is only the beginning and I’m looking forward to working with you to support the next innovator, the next investment, and the next opportunity in bioscience research.”
Construction began in 2020 on the $300 million building, which is now over 90% leased with anchor tenants including Penn Medicine’s Institute for RNA Innovation and Penn Engineering’s Center for Precision Engineering in Health. Commercial tenants include Century Therapeutics (NASDAQ: IPSC), Integral Molecular, Exponent (NASDAQ: EXPO), and Charles River Laboratories (NYSE: CRL); all of whom are pursuing groundbreaking healthcare discoveries and innovative technologies at One City.
“The University of Pennsylvania’s decision to position key research labs in One uCity Square paired with the momentum with which high growth companies choose to locate in the building is further validation of the importance of the uCity Square Knowledge Community as an inclusive hub of university research, corporate engagement, start-up activity, community programming, and quality-of-life amenities,” said John Grady, Senior Vice President and Northeast Region Executive for Wexford Science & Technology.
One uCity Square is a 13-story natural light-filled lab and office building with ground floor retail and convening space, complete with private outdoor terraces and onsite parking for vehicles and bicycles. The building is anticipated to achieve a LEED Silver® certification. One City Square overlooks a new, central public space called The Square that hosted a community block party following the ribbon cutting. The Square will be activated with community events including yoga, movies, concerts, food trucks, and more – and later this year, will welcome a new public art canopy in partnership with Mural Arts Philadelphia. Additionally, 37th Street between Market Street and Warren Street, and Cuthbert and Warren Streets between 37th and 38th Streets, were reintroduced back into the city’s street grid, further enhancing the neighborhood’s accessibility and walkability.
“The continued growth of uCity Square and its ability to attract and retain leading talent and companies make it a powerful focal point for the sustained growth and international leadership in life sciences that Philadelphia has achieved over the past decade,” said Philadelphia Mayor Jim Kenney.
Over the next decade, Wexford Science & Technology, University City Science Center, and Ventas, Inc. will continue to develop uCity Square to include an additional 4 million square feet of laboratory, office, retail, residential, and shared public space—growing the innovation district to a total of 8 million square feet and spanning 11 city blocks.
“Twenty years ago, Integral Molecular embarked on a journey of scientific innovation. Proudly rooted in Philadelphia, we’re thrilled for this next chapter to unfold,” said Sharon Willis, PhD, Co-Founder of Integral Molecular. “uCity Square is more than just lab and office space; it also represents a dynamic cluster of talent, innovation, collaboration, and opportunity that helps our recruiting, research, partnerships, and productivity.”
One uCity Square was designed by ZGF Architects. Turner Construction and McKissak (MBE) were the general contractors with MEP and structural engineering provided by AKF and Keast & Hood (WBE) respectively. Andropogon Associates, Ltd. (MBE) delivered landscape architecture for uCity Square. Wexford is proud that One uCity Square achieved all diversity, equity, and inclusion (DEI) goals, including for employment, procurement, and apprenticeships.
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About uCity Square
Located in Philadelphia’s University City neighborhood, uCity Square is a multi-disciplinary, collaborative, mixed-use community consisting of laboratory, clinical, academic, office, retail, and residential space. As Philadelphia’s central hub for medical and life science innovations, particularly in cell and gene therapy, uCity Square is connected to top-tier colleges and universities, independent research institutions, world-renowned hospitals, and is a center of connectivity for residents, students, professionals, and entrepreneurs alike. uCity Square is a dynamic environment for innovation and collaboration among private industry and top-tier research institutions such as the University of Pennsylvania and its Hospital, Drexel University, Children’s Hospital of Philadelphia, Monell Chemical Senses Center, and The Wistar Institute. uCity Square is a development of Wexford Science & Technology, LLC, in partnership with the
University City Science Center as the community’s primary engagement partner and Ventas, Inc. (NYSE: VTR) as the primary investor. For more information about uCity Square, visit www.ucitysquare.com.
About Wexford Science & Technology, LLC
Wexford Science & Technology, LLC, is a private real estate company exclusively focused on partnering with universities, academic medical centers, and research institutions to develop vibrant, mixed-use, amenity-rich Knowledge Communities that are built on a foundation of research, discovery, innovation, entrepreneurial activity, corporate engagement, and community inclusion. These Knowledge Communities create visible outcomes in the form of substantial economic growth, new and diverse jobs, and community transformation. Wexford targets strategic opportunities with top-tier research universities that are seeking to create knowledge-led economic development impact for their campuses, cities, and regions. Presently Wexford has developed 17 Knowledge Communities across North America. For more
information about Wexford, visit www.wexfordscitech.com.
About University City Science Center
The University City Science Center is Philadelphia’s premier catalyst of entrepreneurial activity, healthcare innovation, and economic growth. Established in 1963, the nonprofit has been recognized by The Brookings Institution as a best-in-class investor, mentor, and economic development partner for young technology companies. Working alongside industry partners and leading research and academic institutions across the globe, the Science Center has supported hundreds of early-stage companies. Today, the organization advances healthcare innovation from idea to the marketplace through startup support services and building inclusive STEM pathways for Philadelphia youth and adults. For more information visit sciencecenter.org or follow us at @UCScienceCenter.
About Ventas, Inc.
Ventas, an S&P 500 company, operates at the intersection of two powerful and dynamic industries – healthcare and real estate. As one of the world’s foremost Real Estate Investment Trusts, Ventas’s portfolio of more than 1,200 properties is buoyed by the demographic tailwind of a large and growing aging population. Ventas uses the power of capital to unlock the value of senior living communities, life science, research & innovation properties, medical office & outpatient facilities and other healthcare real estate, working with leading care providers, developers, research, educational and medical institutions, innovators and healthcare organizations. Ventas has followed a successful strategy that endures: combining a high-quality diversified portfolio of properties and capital sources to manage through cycles, working with industry leading partners, and a collaborative and experienced team focused on producing
consistent growing cash flows and superior returns on a strong balance sheet, ultimately rewarding Ventas stakeholders.
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