Plymouth Group and its capital partner, Centerbridge Partners intend to redevelop and convert the former Philadelphia-based assembly plant, into a lab and drug manufacturing facility referred to as the Budd Bioworks biomanufacturing plant.
This Budd Bioworks biomanufacturing plant will serve as a leading drug manufacturing facility and occupy a total of 450,000 square feet and consist of 300,000 square feet of drug manufacturing space along with 150,000 square feet of lab and office space. In subsequent phases of this project, developments are being planned for residences, restaurants, retail and art activations within the greater Budd Campus.
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Construction costs and time required for converting the existing Budd Campus space into the Budd Bioworks bio-manufacturing plant are expected to be far less, compared to that of a brand new construction project. In addition to the reduced construction costs and time, other beneficial aspects of this project include the property’s proximity to research, academic and medical institutions as well as talent, nearby infrastructure, highways and transit points.
Budd Campus property comprises of several enduring physical and locational features that make it suitable for conversion into a lab and drug manufacturing which include: its expansive ceiling heights that enable ventilation, floors that can withstand heavy equipment, loading docks, efficient regional connectivity, a strong pipeline of both PhD level and biomanufacturing tech talent and access to cargo and parcel shipping centers.
A CRB USA architect and consultant of Plymouth, Jim Daly, pointed out that the property was a big, open space which could be used in various ways.
Daly said, “I think a facility like that has so much potential. It’s in the city, it’s there, it’s a big footprint and can easily fit out.”
Founding partner of Plymouth Group, Michael Davis described this new development as a transformative change for the city which was the result of transitioning from an assembly manufacturing plant, to building a state-of-the-art cell and gene manufacturing facility embedded directly in the community.
David said, “This won’t be known anymore as the ‘former’ Budd assembly plant – it will be the world’s leading biomanufacturing facility.”
