The first major building at Schuylkill Yards, Drexel University's $3.5 billion development, will be a 700,000-square-foot property that will serve as a lab and office space.
Joe Ritichie, vice president of development for Brandywine Realty Trust, shared that update at a panel discussion today as part of the Urban Land Institute (ULI) Spring Meeting. Brandywine Realty Trust is the main developer behind Drexel's Schuylkill Yards project, which will transform 14 acres of land in University City into an innovation hub.
Ritchie also shared news that there will be 2 million square feet of residential space at Schuylkill Yards, including one stand-alone residential building and a number of mixed-use buildings. "They'll be a mix of high-end, luxury and market rate units," he said.
The entire project timeline is about 20 years, though, so don't expect much of this to happen any time soon. The lab-office building won't be built until 2020.
In fact, the first major project will be transforming a 1.3-acre plot in front of One Drexel Plaza and the Bulletin Building into an elliptical green space that will serve as the hub of activity of Schuylkill Yards. Ritchie said they hope to begin construction this fall.