MRA Group is turning the former R&D facility of chemical manufacturer Rohm and Haas in Lower Gwynedd Township into Spring House Innovation Park, an energy-efficient innovation hub, writes Queen Muse for the Philadelphia Magazine.
The real estate development firm purchased the then-vacant campus three years ago and has since spent almost $50 million to refurbish the property. The company plans to spend another $50 million to ensure that the dated and poorly maintained campus is brought up to modern standards.
More than half of the planned renovations are completed, and the other half are already under construction.
Despite still being in the construction stage, companies have already started claiming a place on the campus. This includes international cancer diagnostics biotechnology firm AnPac Bio, which leased a 6,724-square-foot space in October.
Some of the completed and yet-to-be unveiled changes include numerous energy efficient improvements, an inviting central courtyard, an additional 70,000 square feet of lab space, and a new hotel.
“Our goal is to create an environment that people want to grow in,” said MRA Group president and chief executive officer Lawrence Stuardi.
Read more about Spring House Innovation Park at the Philadelphia Magazine by clicking here.