On Wednesday, October 15, University City District
(UCD) will present its annual State of University City
report to a select group of representatives from neighborhood institutions, real estate development groups, small business owners and residents.
In over 70 pages worth of eye-catching charts, graphs and text, the report tells the story of a vibrant and growing submarket that continues to attract a steady stream of educated individuals, innovative startups, creative entrepreneurs and civic-minded businesses.
Some highlights of this year’s report include an explosion of multi-family residential development, an unprecedented 96 percent office occupancy rate, a growing interest in transportation and transit, investment by the University of Pennsylvania
in both research facilities and community placemaking destinations, and significant growth in Drexel’s innovation neighborhood
near 30th Street Station.
The report also expands on the development plans for the 40th Street Trolley Portal, including the success of UCD fundraising efforts to create a pedestrian-friendly park there.
To create the document, policy and research manager Seth Budick compiles vast amounts of data from UCD’s institutional and business partners, alongside its own in-depth studies and analysis of pedestrian counts, retail occupancy and public space usage.
"What we’re really seeing is a flocking of people and businesses who recognize the value of being close to the density of innovation that’s going on in University City," he explains.
As in previous years, printed reports will be distributed to institutional partners, real estate professionals, local organizations, government representatives and residents, who, according to UCD's Lori Brennan, "use [it] as a recruitment tool for filling office vacancies, and attracting retailers and restaurateurs to open up spaces [in University City]."
The report will be available online on October 16
Writer: Dan Eldridge
Sources: Seth Budick and Lori Klein Brennan, University City District