Philadelphia Navy Yard Master Plan 2013

Philadelphia Navy Yard

Philadelphia Navy Yard Master Plan 2013 was revealed today at Building 77 at Philadelphia Navy Yard. Mayor Michael Nutter & Robert A.M. Stern, architect of the detailed plan, hosted a celebratory 10,000 employee milestone for the Philadelphia Navy Yard. The Navy Yard business district will pass the 10,000 employee mark on Monday morning when GlaxoSmithKline P.L.C. opens their doors for the first time employing about 1,400 people in their brand new 80 million dollar, 200,000+ square foot building.

Philadelphia Navy Yard Residential

Developers have selected three existing buildings that could possibly be converted into residential apartments in the Historic Core of the Philadelphia Navy Yard. Also proposed 6 newly constructed buildings totaling 1,000 apartments geared toward younger professionals. Developers feel that this would be essential for continuing growth the campus. Retail space would be reserved in these apartment buildings to accommodate the office workers.

Philadelphia Navy Yard Master Plan 2004

The 2004 Navy Yard Master Plan provided a framework to attract the investment in infrastructure, open space, building renovations and new construction necessary to begin establishing The Navy Yard as a progressive, urban campus for office, industrial, research and residential activity. Today more than 125 Companies are bases at the Navy Yard. Mayor Nutter also mentioned that 70% of these businesses are new or new to Philadelphia and in 2012 these businesses grossed more than 2 billion dollars. The 1000 Acre site is managed by PIDC on behalf of the City of Philadelphia.

Subway System

Today’s meeting really didn’t mention anything about the Broad Street subway system being extended into the Philadelphia Navy Yard. The extension to Center city Philadelphia would be a key factor to the growth of the Philadelphia Navy Yard development. Recently a Broad Street Line Extension Feasibility Study was preformed to examine the economic feasibility and engineering of the subway extension.

 

 

Philadelphia Navy Yard Master Plan 2013

By Michael Angelina

Blog post compliments of Michael Angelina Philadelphia Real Estate Blog

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