The Philadelphia Navy Yard could see nearly 9 million sq ft of new development during the next two decades, according to the latest master plan for the former naval base and shipyard located south of the city.
According to the plan released in late June by Philadelphia Industrial Development Corp. (PIDC), the city’s manager of the former federal property and site master developer, and the Ensemble Real Estate Investments/Mosaic Development Partners joint venture development team, life sciences facilities will make up nearly half of the planned $6-billion buildout, with 4.3 million sq ft of Good Manufacturing Practice (GMP) space designated for pharmaceutical operations, laboratories and office space.