University Place Associates Names 1776 As Strategic Partner for New Gateway Innovation Office Building in University City
1776’s Presence will offer tenants flexible space options and innovation-focused amenities and programming. 3.0 University Place, located at 41st & Market, scheduled to break ground in mid-December this year
PHILADELPHIA, Pa. (May 3, 2018)—Today, University Place Associates [UPA] and 1776 announced a strategic partnership to activate a new commercial real estate management model starting at 3.0 University Place. Located at 41st & Market Streets in University City, Philadelphia, this state-of-the-art, five story, pre-certified LEED v4 Platinum office building will include over 180,000+ square feet of space for both office and ground floor retail tenants, under an innovative management model that provides unprecedented flexibility for growing companies.
“Our vision is to create a unique corridor of commercial and retail space certified LEED Platinum in University City,” said University Place Associates Founder Scott Mazo. “It will enrich the surrounding community, create local jobs, attract organizations hungry for problem-solving innovation and talent, and firmly contribute to defining Philadelphia's commitment to global impact and sustainability. By 2030 - 30% of the office market will be some form of flexible workspace. We are part of this change. We have watched the team behind 1776 for years and their ability to create environments and programming to push innovation forward is unmatched in our region.”
“There is a dynamic shift taking place in how we work with the increase in independent contractors, smaller innovation teams transforming industries, and institutions seeking to be part of an entrepreneurial community. Our engagement with UPA rethinks the workplace to create experiences that attract, retain and develop talent . We provide inspiring, productive spaces and resources that will help entrepreneurs, corporations and educational institutions, within the city of Philadelphia, reach their potential faster and more effectively,” said Jennifer Maher, Co-CEO of 1776.
UPA is the first company dedicated to developing only LEED Platinum certified commercial office buildings through an integrated process that contributes to the health and productivity of the employees working within, while dramatically reducing each tenant’s utility costs. As the premier network of incubators in the Northeast Corridor, 1776 helps entrepreneurs build scalable businesses while empowering property developers and regional leaders to transform their communities.
“1776 challenges entrepreneurs, enterprises, and institutions to solve big problems by collaborating and learning from one another. Working alongside Scott is an extension of this mission. I believe the work we’re going to do with UPA will be the catalyst for flexible and smart growth in West Philadelphia and throughout our region,” said Anthony Maher, Co-CEO of 1776.
Leadership teams from both UPA and 1776 pledged their commitment to curating a new tenant experience for a range of businesses, including:
- venture backed startups,
- cutting edge scientific research groups,
- large corporations,
- and institutions that share a mission of solving complex challenges.
This announcement marks the second collaboration between 1776 and UPA, expanding on the entrepreneurial community already developing at the nearby 2.0 University Place. The new location will serve as the first expansion of an innovation corridor that was recently designated a Keystone Opportunity Zone (KOZ). Future tenants in the corridor will benefit from significant tax incentives, as well as close proximity to the 40th & Market transit hub, to the University of Pennsylvania, and to Drexel University.
1776’s presence in the new building offers prospective tenants the ability to blend flexible leasehold options with business and entrepreneurial incubation and innovation programs. With options to grow or shrink their footprint without the liability of traditional leases, tenants and member companies can leverage 1776’s resources and UPA’s socially and environmentally responsible approach to attract top talent from the Philadelphia region and beyond.
About University Place Associates
UPA is dedicated to designing and constructing all its developments to achieve the highest level of the green building program for the design, construction, maintenance and operations of high-performance green buildings, developed by the U.S. Green Building Council, LEED® –an acronym for Leadership in Energy and Environmental Design™. For more information, please visit www.30universityplace.com and follow @UPAphila on Twitter and @UniversityPlaceAssociates on Facebook.
1776 is the largest network of incubators that cultivates and empowers startup ecosystems in the Northeast Corridor. We exist to strengthen the cities and economies of this region by building thriving communities of entrepreneurs including those dedicated to tackling challenges in complex, often highly regulated markets. More than one thousand member companies access the entire network’s knowledge, mentorship, capital, markets, and talent in order to scale. For more information, please visit www.1776.vc and follow @1776 on Twitter and @1776vc on Instagram.
About 3.0 University Place
A pioneering force in Philadelphia’s sustainable design scene, the LEED® v4 Platinum Pre-certified 180,000+-square-foot building, located at 41st and Market Street, represents a flagship of social and environmental responsibility, designed for a generation that demands both from its workplace. Companies located at 3.0 University Place will reap the benefit of significant energy savings and, an accessible vegetated roof that creates habitat and infiltrates stormwater. This building will be the second of several LEED Platinum structures to be developed in University City.
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1776 is the largest network of incubators that cultivates and empowers startup ecosystems in the Northeast Corridor. We exist to strengthen the cities and economies by building a thriving community of entrepreneurs.