Philadelphia’s New Boom
The city is changing dramatically, with new buildings, revitalized neighborhoods and inviting public spaces emerging all at once. Here’s an inside look at what’s behind this New Boom — and a preview of what our revitalized city will be.
Trend #7: The Navy Yard Is Unsinkable
This flourishing business zone is actually just getting started.
A rendering of the projected Navy Yard development. Neoscape for Robert A.M. Stern Architects
| 2000–’05 | 2006–’14 | 2015–’25* | |
|---|---|---|---|
| # of new and/or renovated buildings | 2 new projects; # of renovations unknown | 41 | 30 |
| Occupied square footage | 4.6 million | 7 million | 13.5 million |
| # of businesses | 65 | 150 | 300 |
| # of employees | 6,000 (estimated) | 11,000 | 25,000 to 30,000 |
| # of hotels and residential units | 0 | 1 hotel; no residential units | 2-plus hotels; 1,000-plus residential units |
| Notable businesses/projects | Urban Outfitters Inc., Aker Philadelphia Shipyard, U.S. Navy | GSK (GlaxoSmithKline), Iroko Pharmaceuticals, RevZilla motorsports, Tasty Baking Company | Franklin Square Capital Partners, Mercer Café, a potential Broad Street Line extension |
*Information provided by PIDC based on estimated plans
