The surge of construction activity in our 11 county neighborhood is unprecedented, and the diversity of industries operating in Greater Philadelphia is reflected in the variety of development projects underway.
Whether it’s the billion dollar redevelopment of the Camden waterfront, the expansion of the King of Prussia Mall, or the emergence of new hotels and mixed-use properties in downtown Philadelphia – developers are taking advantage of the construction and real estate boom happening in our region. The result of these development projects will lead to the creation of thousands of full time and temporary jobs for skilled workers across the area.
In Philadelphia alone, a growing number of cranes have become part of the city’s skyline, part of major projects including: CHOP’s new 735,000 sq ft medical research facility; the soon to be completed 2.7 million sq ft FMC Tower; the Market East renovation, including an overhaul of The Gallery’s retail space; Comcast‘s $1.2 billion Innovation and Technology Center. The Philadelphia Business Journal’s interactive “Crane Watch” map provides a detailed overview of construction projects with investments of over $10 million happening in Philadelphia.
Most recently, Drexel University and Brandywine Realty Trust announced their $3.5 billion investment in the 14-acre development Schuylkill Yards project – the largest-scale development project in the city’s history – which “will include spaces designed for innovative start-up companies, research laboratories, and corporate offices, along with residential building, retail, and hotel space, and ample open green horizons.” Read more about the announcement published by Drexel’s John Fry and Brandywine’s Jerry Sweeny.
There’s also plenty of development and capital investment activity happening outside of Philadelphia in the surrounding 10 counties, including:
- Three large-scale manufacturing facilities being opened in Camden, Burlington and New Castle counties:
- Holtec International opening a 600,000 sq ft campus on the Camden Waterfront
- H&M launching a 545,000 manufacturing facility in Burlington County
- Zacros America relocating its Hedwin Division from Baltimore to Newark, DE with a $12 million, 182,000 sq ft facility.
- The 170,000 sq ft expansion of the King of Prussia Mall; a 26,000 sq ft addition to Ardmore’s Suburban Square; and a $100 million investment into the revitalization of the Granite Run Mall in Delaware County
- Subaru breaking ground on its new 250,000 sq ft headquarters in Camden
- Bristol MeyerR