Right around this time last year, relations between the
University City Science Center and Philadelphia Redevelopment Authority (
RDA)--which is responsible for encouraging development in the city--were slightly strained, to say the least. In May, the Science Center filed a lawsuit against the RDA in an attempt to stop the seizure of a portion of its University City research park. The undeveloped lots, which had fallen into default due to the financial crisis, were meant to become future additions to the Science Center's campus.
But thanks in part to a clause in the original agreement between the two agencies which disallowed foreclosure in the instance of "unforeseeable causes," the Science Center managed to hang onto its property. The two entities have also shaken hands and made up, metaphorically speaking. And on April 29, the Science Center published a press release announcing that the "longstanding redevelopment agreement" had been amended.
That's certainly good news for anyone who believes in the technology-based economic development happening at the Science Center. And according to Saul Behar, the Science Center's Vice President and General Counsel, the center now has the buffer of an additional 10 years to develop the four parcels on its campus that are still vacant. If the center is willing to shell out for additional fees, Behar says, that decade can legally be extended to 13.
As for what may or may not eventually be developed on the space over the next decade, the Science Center isn't quite sure--or isn't telling. "There's nothing solid right now," says Behar. "But we're continuing to market the parcels, and we're always looking for opportunities."
Source: Saul Behar, University City Science Center
Writer: Dan Eldridge
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