Penn Medicine Planning $60M Parking Garage for Penn Presbyterian Campus

Penn Medicine plans to spend an estimated $60 million to build a new parking garage for the Penn Presbyterian Medical Center campus in West Philadelphia.

The 495,000-square-foot garage at 3800 Powelton Ave. is designed to have 1,439 parking spaces.

A Penn Medicine spokesperson said the structure will consolidate the parking spaces that are currently split between the existing garage on the Penn Presbyterian Medical Center campus, which will be demolished, and several satellite surface parking lots that serve the hospital.

The plan includes extensive pedestrian and traffic improvements to enhance safety in the area and ensure ease of access. As a result of working with local community organizations as part of the planning for the project, the spokesperson said, Penn Medicine will also provide support for a community garden and extensive greening measures for nearby areas.

The parking garage requires approval from the Philadelphia Zoning Board of Adjustment, which is scheduled to hold a meeting to review the project in mid-July. If the project is approved, Penn Medicine expects the parking garage will be completed in the summer of 2023.

Penn Medicine expanded the Penn Presbyterian Medical Campus in 2015 with the opening of a six-story, $144 million patient care pavilion at 38th Street and Powelton Avenue. The health system said last year it expects to add another building on the campus within the next five to eight years.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.