Penn Medicine to Add New Medical Facility in West Philadelphia
By Veronica Grecu, Associate Editor
Penn Medicine, one of the world’s leading academic medical centers, has announced plans to move forward with Phase II of an expansion plan of the Penn Presbyterian Medical Center (PPMC) campus located in the University City section of West Philadelphia.
Phase I debuted back in September with the construction of a new 11-story medical tower in a joint venture with Baltimore-based Wexford Science & Technology, a real estate investment and development firm. Jointly designed by UJMN Architects & Designers and Zimmer Gunsul Frasca Architects, the 272,700-square-foot building will be completed in June 2014 and will be anchored by PPMC.
The newly announced Phase II calls for major upgrades and expansion of the health care services provided by the PPMC, as well as a new advanced-care pavilion totaling 178,000 square feet of space that will be developed at the corner of 38th Street and Powelton Avenue. According to a spokesperson for Penn Medicine, the structure is expected to open in January 2015; it will feature enhanced capacity for emergency, surgical, trauma and critical care patients at PPMC, as well as a second helipad.
“This project will provide the PPMC campus with the facilities and clinical programs to better serve Philadelphia and adjoining communities as a tertiary center while significantly increasing Penn Medicine’s overall care capacity,” said Michele Volpe, CEO, Penn Presbyterian Medical Center.
Medical office building activity picked up in Philadelphia Metro in the first half of 2012, as shown in this chart provided by Marcus & Millichap.
Click here for more market data on Philadelphia.
Chart courtesy of Marcus & Millichap