Two life sciences buildings will be among the first properties built at the Philadelphia Navy Yard by Ensemble Real Estate Investments and Mosaic Development Partners, in partnership with PIDC, Philadelphia’s public-private economic development corporation, as the team launches the initial phase of a $2.5 billion development plan.
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The announcement comes as PIDC, the master developer of the Philadelphia Navy Yard, confirms the execution of an agreement announced in July that gives the Ensemble/Mosaic team the exclusive development rights for 109 acres at the Navy Yard. PIDC selected the team after a year-long competitive selection process. PIDC retained JLL in early 2019 as an advisor in the development partner search. JLL supported PIDC throughout the RFQ and RFP processes…
