PHILADELPHIA—City and Chamber of Commerce for Greater Philadelphia officials announced last week that PIDC President John Grady will be stepping down after eight years on the job in late January 2020.

Grady has been with PIDC, the non-profit, economic development partnership founded by the city and Chamber of Commerce, for 21 years. Grady will join Baltimore-based real estate development firm Wexford Science and Technology, LLC as senior vice president and Northeast Region Executive.

Some of Wexford's mixed-use projects in Philadelphia have been undertaken in partnership with the University of Pennsylvania, Penn Medicine, Drexel University, Children's Hospital of Philadelphia, and the University City Science Center in the development of uCity Square in University City.

Grady since joining PIDC in 1998 has taken on a series of increasing leadership roles in the organization, including overseeing all commercial and industrial real estate development and managing complex public-private financing and development projects throughout the city.

Grady became president of PIDC in 2011, continuing to lead the transformation of the Navy Yard from a closed military shipyard to a nationally-recognized model for urban redevelopment and employment. He repositioned and grew PIDC's business lending activity with new investors, products, and support services that have resulted in more than 500 loans for more than $150 million in 97% of the city's zip codes over the last seven years, with 55% of those loans supporting minority and woman-owned businesses.

He has helped build a PIDC portfolio of more than 60 high-impact community development projects totaling more than $600 million of investment in Philadelphia's most underserved communities, including health centers, schools, neighborhood retail and mixed-use developments anchoring commercial corridors.

The PIDC Board of Directors has appointed a transition committee that will manage the transition to new leadership. The Board expects to announce a new president in January 2020. Grady will remain in his current role until his successor is named.

Instant Insights /

PIDC President Grady to Leave Post in Late January to Join Wexford

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