Drexel University is preparing to launch the inaugural project of the Innovation Neighborhood™ on Market Street, across from the new home of Drexel’s LeBow College of Business (Geri C. LeBow Hall) and the University’s College of Engineering and School of Biomedical Engineering, Science and Health Systems. Combined with the complete renovation of 3101 Market Street to house the Environmental Science Department and the new Energy and Environment Institute, the new building represents the perfect Philadelphia address for firms leading the region’s energy renaissance. The location adjacent to Amtrak 30th Street Station and SEPTA’s regional transportation hub is also a significant attractor.
The majority of space will be marketed to commercial, industrial and professional firms interested in the benefits of a Drexel location for collaborating with academic research teams on their core business programs and developing the labor pool necessary for the firms’ future success. The building may also include incubator or accelerator space to invite additional innovation. The inclusion of selected Drexel academic programs will enhance the connection between tenants and the University.
The new structure is targeted for approximately 20 stories, and 20,000 square feet per floor of usable space. The ground floor will host dining, entertainment and retail services, creating an exciting urban environment within Drexel’s already vibrant University City Campus. The site has been designated a Keystone Opportunity Zone, offering important tax incentives for offices, retail and hospitality uses.
An Academic Connection With Drexel
Drexel's College of Computing and Informatics plans to locate its National Science Foundation-funded Center for Visual Decision Informatics (CVDI), home to Drexel’s research into Big Data, on the lower floors and is exploring expanding the CVDI into an applied laboratory that offers tenants who collect and manage massive amounts of data the benefits of being located where cutting-edge translational data research by Drexel faculty and graduate students is occurring literally on-site.
The Customizable Drexel Co-Op will help companies address their need for sustained access to young professional talent. Drexel’s renowned co-operative education program will create an office to coordinate student co-op jobs in the building for tenants. The Customizable Co-Op represents a strategic partnership between university and industry. Corporate partners can work with Drexel to create a curricular plan that prepares students in advance of their co-ops, and to find students whose talents and interests match their unique corporate or cultural characteristics and skill requirements.
A third feature, unique in Philadelphia’s urban region, is the educational culture fostered by locating on the campus of a major research university. Imagine having access to incredible academic, intellectual, cultural, athletic and entertainment opportunities, steps from a company’s front door. The Innovation Neighborhood™ will be a natural attractor for today’s young professionals, who are more inclined to live and work in a dynamic urban environment than in a suburban office park.