An aging monument of Philadelphia’s industrial past is poised to become a harbinger of the city’s future as a life sciences hub.
After 18 years of lying dormant, the Budd Co. Hunting Park plant, which at its prime employed some 7,000 workers who made parts for automobiles and trains, is undergoing a transformation into a 2.4 million-square-foot life sciences campus in the hopes of reinvigorating 25 acres north of West Hunting Park Avenue between Fox Street and Wissahickon Avenue.
The developers hope, too, that the campus will become a focal point for life sciences manufacturing in the Philadelphia region. With a robust roster of research and medical institutions, Philadelphia has emerged as a major center for life sciences, with a particular foothold in cell and gene therapy. After all, researchers here produced the first FDA-approved therapies in the field, where cells and genes are modified to treat disease.
Real estate investment firm The Plymouth Group is leading the Budd project after purchasing the property in 2019 for $6.5 million. The first phase of the site’s redevelopment, Budd Bioworks, will see two existing buildings converted into 300,000 square feet of drug manufacturing space and 150,000 square feet of lab and office space.
*Article courtesy of Philadelphia Inquirer
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