Drexel University Announces Transformative $3.5 Billion Master Planned Development
On March 2, 2016, Saul Ewing client Drexel University announced, with great fanfare in the Philadelphia area, its $3.5 billion development in partnership with Brandywine Realty Trust. The master planned community will be called “Schuylkill Yards,” and will feature entrepreneurial spaces, educational facilities, research laboratories, corporate offices, residential and retail spaces, cultural venues and iconic public spaces. Situated adjacent to Amtrak’s 30th Street Station, the third-busiest passenger rail station in the country, Schuylkill Yards will be connected to Philadelphia’s international airport and the major cities along the Northeast corridor, making it a major innovation hub on the East Coast. Schuylkill Yards will also create a new gateway to Drexel University and University City, a thriving submarket with one of the highest concentrations of higher education and medical institutions in the nation, including the University of Pennsylvania and its hospitals, University of the Sciences, The Children’s Hospital of Philadelphia, University City Science Center and the Wistar Institute.State and local government officials have called Schuylkill Yards “game-changing” for the region.
The work of the Saul Ewing team of attorneys led by partner Erik F. Williams has been instrumental in establishing the framework for the creation of Schuylkill Yards and the firm is thrilled to be a partner with Drexel in this important project for Philadelphia. To read more about the plans for Schuylkill Yards, please click here.