The Children's Hospital of Philadelphia Erects the Final Beam of its Newest Research Building; Hospital will be poised to be the preeminent institution conducting translational research for the benefit of children.

09/17/2008

PHILADELPHIA, Sept. 17 /PRNewswire-USNewswire/ -- The Children's Hospital of Philadelphia erected the final beam today in a "Topping Off" ceremony for the Colket Translational Research Building, the first in a series of buildings to be constructed on Children's Hospital's new South Campus.

Thousands including donors Ruth M. and Tristram C. Colket, Jr., Children's Hospital researchers, Board of Trustee members and senior leadership signed the beam to commemorate this milestone.

The new eleven-story, 450,000-square-foot research building is named for Ruth M. and Tristram C. Colket, Jr. in appreciation of their $25 million donation toward Children's Hospital's goal to advance translational research -- translating basic science research into real-life treatments and cures.

"The Colket Translational Research Building represents the future of The Children's Hospital of Philadelphia and a healthier future for children everywhere," said Steven M. Altschuler, M.D., president and chief executive officer of The Children's Hospital of Philadelphia. "Medical research has never been more promising, and I am confident that the greatest advances in pediatric research will occur in this state-of-the-art facility."

"Thanks to the commitment and generosity of Ruth and Tristram Colket,
Jr., we will now have physical facilities as great as our scientists' talent and our institution's vision," said Stephen B. Burke, chairman, Children's Hospital Board of Trustees. "When we speak of Children's Hospital, we say that hope lives here. As we put the final beam in place on the Colket building, we know that a new hope will live -- and thrive --
here."

The $400 million research tower will comprise four new laboratory floors, a two-story ground floor housing a lobby, cafeteria, conference space, and four administrative office floors, three of which are convertible to future laboratory use. The building has been designed to
expand vertically to 23 stories to provide for future growth.

The new building will provide flexible state-of-the-art laboratory space for Children's Hospital's Center for Childhood Cancer Research as well as the Center for Cellular and Molecular Therapeutics. Projected completion is 2010.

"Our goal is to advance the health of children by turning scientific discovery into medical innovation," said Philip R. Johnson, M.D., chief scientific officer at Children's Hospital. "This state-of-the-art facility enables Children's Hospital to recruit top-level researchers by providing
the space, equipment and technology required to advance pediatric medicine.
Children's Hospital will be poised to be the preeminent institution conducting translational research for the benefit of children."

The research tower follows an initial phase of construction involving the development of four stories below grade providing infrastructure and laboratory support space as well as an expandable central utility plant to support the entire development of Children's Hospital new South Campus.

The research facility is being built on a portion of the former Philadelphia Civic Center site. The new location has been designated as Children's Hospital's new South Campus, comprising nearly eight acres of land directly across from Children's Hospital's current clinical and
research facilities.

In addition to the new state-of-the-art Colket Translational Research Building, Children's Hospital's new South Campus will house an underground parking garage and an ambulatory care building with outpatient services including day medicine, day surgery and imaging, as well as enhanced amenities for patients, families and employees.

The South Campus complex is estimated to cost more than one billion dollars and consist of more than one million square feet of clinical and research space. The architect for the building is Ballinger of
Philadelphia. The construction manager is Turner Construction.


SOURCE The Children's Hospital of Philadelphia