PHILADELPHIA—A host of positive economic indicators are pointing to continued population, job and development growth in the University City section of the city.
According to the University City District's recently released annual report the West Philadelphia neighborhood's office occupancy rate is an impressive 96%. The cumulative units of new and anticipated multifamily housing in University City have risen from 1,600 in 2012, 1,848 in 2013, and 2,343 in 2014. That number is expected to rise to 3,445 in 2015 and 3,939 in 2016, according to the University City District.
Matt Bergheiser, executive director of University City District, says that work will begin next year on a much-anticipated project in the area. The organization has raised $2 million for the construction of the 40th Street Trolley Portal.
“You have this great neighborhood and you have a half-acre site that is just dead where the neighborhood ends,” Bergheiser says. See story in the Philadelphia Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
