Officials Laud University City’s Ongoing Development as $100M Project Marks Construction Milestone
When state Sen. Vincent J. Hughes took the podium at a ceremonial topping out of 3.0 University Place, a $100 million development at 4101 Market St. in University City, he noted the significance of its location.
“This is special,” he said. “The history has always been that everything stopped at 40th Street. We have been able to break through that.”
When Hughes referred to “everything,” he cited development, investment and innovation.
A partnership involving Silverstein Properties, Cantor Fitzgerald and University Place Associates marked the construction milestone on March 10 of the 8-story 250,000-square-foot lab and office building. It is dedicated to life sciences tenants and several have already signed leases.The Barer Institute, a collaborative cancer drug development initiative started by Rafael Holdings Inc., took 2,500 square feet on the fifth floor. The Wistar Institute, a nonprofit research organization, entered into a long-term lease on 8,000 square feet for up to 10 years. Wistar has an option to take additional space in the future.
Other tenants that have committed to the building include Ben Franklin Technology Partners and Fulton Bank.
Read the full article here.