Drexel University Consolidates Medical Research with New University City Lease
Drexel University has announced a significant lease aimed at consolidating its College of Medicine research activities in University City. The lease centers around a new building located at 3201 Cuthbert Street, a collaborative project developed by Gattuso Development Partners and Vigilant Holdings.
Drexel University’s Expansion Plans
The new facility, a $500 million investment, is scheduled for completion in 2027. Drexel will occupy 150,741 square feet across four floors of the 11-story structure, which will total 520,000 square feet.
Enhancing Collaboration and Innovation
Drexel’s president, Antonio Merlo, emphasized the importance of this move. He expressed that consolidating research spaces in University City will enhance interdisciplinary collaboration and accelerate innovation within the institution.
Background of the Move
This transition is part of a broader initiative to centralize the College of Medicine. It involves merging the operations of the former Hahnemann Medical College in Center City and the Medical College of Pennsylvania from East Falls.
Strategic Goals for Life Sciences
The developers of the new facility aim to attract additional life sciences tenants to occupy the remaining space. However, securing these tenants may prove challenging due to market conditions that have changed since the project’s announcement in 2022.
Recent Developments in Medical Education
In 2023, many of the medical school’s administrative and academic functions relocated to Drexel’s Health Sciences Building, located at 60 N. 36th Street. This move reflects Drexel’s commitment to evolving its medical education framework.
- Lease Location: 3201 Cuthbert St.
- Investment Amount: $500 million
- Drexel’s Occupied Space: 150,741 square feet
- Total Building Size: 520,000 square feet
- Completion Year: 2027
- Other Medical Colleges Involved: Hahnemann Medical College, Medical College of Pennsylvania
This consolidation of research facilities signifies a pivotal move for Drexel University, reinforcing its position in the field of medical research and education.
