Drexel, Penn Look to ‘Densify’ University City Amid Life Sciences Boom

The life sciences industry is growing rapidly in Greater Philadelphia, and projects like Schuylkill Yards, developments like One uCity Square, hubs like the University City Science Center and companies like Spark Therapeutics have helped put University City at the center of the accompanying development boom, the Philadelphia Business Journal reports.

University City neighbors Drexel University and the University of Pennsylvania are also playing major roles in the proliferation of lab and manufacturing facilities, spending hundreds of millions of dollars on real estate projects dedicated to the industry. With the demand for life sciences development higher than ever, both institutions must find creative ways to maximize the scant space that remains.

Craig Carnaroli, senior executive vice president at Penn, and Aleister Saunders, Drexel's executive vice provost of research and innovation, joined the Philadelphia Business Journal event "From Research to Real Estate: What’s next for cell and gene therapy in Philadelphia" on Sept. 8 to discuss the dynamic of life sciences real estate.