Republic Properties Corp., a privately owned real estate investment and management firm, plans to build Ultra Labs at University City, a $190 million life sciences facility in Philadelphia.
Republic Properties’ investment partner on the project is an entity known as PHL Next State Med.
The facility will total 185,000 square feet across 11 stories.
Steven Grigg, president and co-founder of Republic Properties, said the Ultra Labs project “represents a rare and exciting development opportunity to work from a fresh canvas and meet every single need of the world's leading cell and gene therapy companies in Philadelphia, a global hub for innovation in breakthrough life sciences.”
Ultra Labs at University City will sit within an opportunity zone between Powelton and Market streets. It is slated to be completed in the next 36 months.
