University City’s Powerful Combination of Best-in-the-world Academic and Medical Institutions, Extraordinary Real Estate and Commercial Growth, and Culture Of Innovation

Thursday, October 16, 2014

The State of University City 2014/15 publication details neighborhood’s impressive leadership and advancements in the areas of placemaking, development, science and research, and quality of life

(Philadelphia, PA) - University City District (UCD), the economic development organization located in West Philadelphia, is pleased to announce the release of The State of University City 2014/15, the latest edition of UCD’s annual publication illustrating University City’s status as an engine of remarkable prosperity, innovation and commercial vibrancy with world-class public spaces and world-class amenities. Seventy pages of color charts, statistics, photographs, and stories help demonstrate why University City and its concentration of economic activity are unmatched in all but a few communities in the country.

University City, the 2.4 square mile area just west of the Schuylkill River, has become a place where Philadelphia’s future is happening today. University City institutions are investing nearly $1 billion dollars in R&D spending into new cures and innovations. Global innovators, venture capitalists, Iron Chefs, and notable artists call University City home. These are just a few of the many signs that University City is a first-class neighborhood on the move.

Built on the indispensable foundation of Clean and Safe, UCD has steered its work to match the vision of its partner institutions, creating new possibilities for the neighborhood. From The Porch at 30th Street Station and the 40th Street Trolley Portal improvements to the West Philadelphia Skills Initiative and Project Rehab, UCD continues to put its stamp on one of the region’s most vital neighborhoods – a neighborhood that can lead the way into the future of Philadelphia. At UCD, we believe that University City’s future is critical to the future of our city and region, and that the unique assets, opportunities and environment here are both an engine of prosperity and an exemplar of community,” says Matt Bergheiser, Executive Director of University City District

The State of University City 2014/15 illustrates how University City is a place that continues to strive and thrive. What follows are some of the neighborhood’s most notable recent and current accomplishments:

Real Estate Development

  • Over 9.9 million SF of real estate have been developed in University City over the past five years, representing over $4.5 billion in investment.
  • A wave of residential development: before the end of 2016, University City is anticipated to add 2,090 new housing units and 4,274 beds. This will be equivalent to increasing University City’s population by approximately 10% over 3 years.

Employment and Office Space

  • University City’s office occupancy rate rose in 2014 to an impressive 96%.
  • The number of jobs in University City rose to nearly 73,000, and is expected to exceed 80,000 by 2016.

Retail Vitality + Creative Economy

  • The number of restaurants in University City continues its dramatic climb, up 17% since 2009.
  • Pedestrian counts continue to climb in our institutional and commercial core, as well as on our neighborhood retail corridors with numbers that rival busy Center City streets.
  • University City’s Arts & Cultural Organizations annually generate $75 million in direct expenditures, $177 million in total economic impact, and 2,386 full-time jobs.

Center of Innovation

  • University City institutions received 112 patents in 2013.
  • Total R&D spending by University City universities reached almost $1 billion in 2012.

A Neighborhood of Choice

  • The cost of living in University City is 28% lower than in Center City, based on food, housing, utilities, transportation and health costs.
  • The median home sale price remained stable in 2013 and throughout the housing downturn. This represents a 164% increase since 2000.
  • The population of University City climbed to 50,581, and the total number of students reached 43,717.

Sustainability + Infrastructure

  • Amtrak ridership at 30th Street had another record year, topping 4,100,000 riders.
  • Bicycle ridership between University City and Center City continues to rise, up 141% since 2000.
  • At 90 out of 100, University City is among the most walkable neighborhoods in Philadelphia (based on its Walk Score). Walk Score measures the walk-ability of a location based on the proximity of amenities such as grocery stores, schools, parks, restaurants, and retail.

UCD promotes a world class, vibrant University City through major investments in public space development, public maintenance and public safety, by connecting entrepreneurs and residents to economic opportunity, and through the creation and management of destination events. This publication illustrates the exciting progress of the neighborhood and the impact of University City District. To obtain copies, contact the UCD by phone at 215-243-0555 or by email at [email protected].

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