Congratulations to Breakthrough Properties on securing a $130 million construction loan to build a 223,000-square-foot life science research building in Philadelphia’s Center City District. The project, known as 2300 Market by Breakthrough, is expected to be completed by the summer of 2024.
Development Plans
2300 Market by Breakthrough will be an eight-story building with highly flexible lab zones to cater to a variety of research needs. It is situated in a convenient location within walking distance of leading academic medical centers and in close proximity to major transit stations, such as Philadelphia’s 30th Street Station. The building will offer world-class infrastructure and amenities to its residents.
- The project’s designer: Architecture studio Kieran Timberlake.
- The developer has contracted Hunter Roberts as the construction manager.
- The shared amenities will include a café, lounge, fitness center, and elevated terraces.
- The building’s original terracotta will be disassembled and stored off-site for reinstallation during the course of construction to maintain an authentic streetscape.
Supporting Partners
Breakthrough Properties received assistance from the Philadelphia-based D2 Capital Advisors in securing Corebridge Financial’s funding for the research facility. Tishman Speyer and Bellco Capital are also supporting this project, strengthening the project’s completion outlook. Breakthrough Properties received unanimous approval for the project during the Civic Design Review process earlier this year.
Benefits to Future Residents
Future residents of 2300 Market by Breakthrough will have access to quality housing, restaurants, bars, retail, and mass transit. They will also conveniently be situated near the University of Pennsylvania and Drexel University.
Closing Statements
What is Breakthrough Properties?
Breakthrough Properties is a commercial real estate development company specializing in creating innovative environments for lab sciences, technology, and data centers. These facilities help to improve and to advance research and development capabilities in various industries.
What is life science research?
Life science research involves the study of living organisms and life processes. It includes fields such as biotechnology, genetics, ecology, evolutionary biology, and more. Breakthrough Properties’ project will be a hub for scientific research and development in this field.
