Recycling old buildings keeps Philly’s character intact

“Repurposed, remodeled, and revamped.”

feat_history_newsstand_old-jan16-8e0ba478These words are being used more and more in the construction boom that Philadelphia is currently experiencing. Every week there seem to be new restoration and renewal projects proposed, or announced, in what are currently just dilapidated or un-used buildings.

What has been fantastic to watch is the effort and time developers have put into keeping the character and integrity of these architectural slices of history. Structurally, Philadelphia is an extremely diverse city with tons of variant architectural elements scattered throughout its limits. Keeping this personality alive is of utmost importance for the city.

Curbed has done a fantastic job detailing the many different developments.
Some of my personal favorites are below.
Converted West Philadelphia high school in the apartments named “The West Lofts.”
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The Hale Building revamp which is labeled as a “Hub for creative tech companies.”
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The on-going plans for the Edward W. Bok Technical High School; and the incredible views from Bok Bar.
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Philadelphia, Young Professionals are staying here.

Genos-east-passyunk-philadelphia-video-465.jpgA recent study from the Chamber of Commerce for Greater Philadelphia reported an unexpected 93% of young professionals currently living in Philadelphia said there is a good chance their next job would be in the area as well. Furthering the optimism, the same study also reported that 42% of the people who responded were homeowners and 29% plan to buy a home in the next three to five years.
So why are professionals currently choosing Philadelphia as a place to call home?
A recent report could point to the answer. As PhillyMag states:
“Philadelphia is growing jobs at a faster pace than New York for the first time in at least 25 years, according to data complied by the regional chapter of the global commercial real estate firm CBRE.” 
For a city that has long been an afterthought for millennial and young professionals settling down, this study brings extremely welcome news. The area is home to some of the nations top Universities such as Penn and Villanova, so it is no surprise the “Eds and Meds” sector is leading employment opportunities. Fast paced growth was also seen in the transportation and warehousing sectors.
As highly educated young professionals continue to stay the area, it seems as though the “Eds and Meds” model should continue to create employment growth in the area for years to come.

Adam Ozimek, a senior economist at Moody’s Analytics in West Chester, was recently interviewed by Philly.com and is excited by the growth in the Philadelphia area:

“There’s clearly optimism. It’s a very exciting time to be watching the Philadelphia economy, that’s for sure. It feels like there’s a possibility that Philadelphia could be like one of those mega-cities.”