Redevelopment At Philadelphia Navy Yard Called One Of "Most Successful" Projects In U.S.
PHILADELPHIA (CBS) -- An organization that researches land use and real estate development hails the redevelopment at the Philadelphia Navy Yard one of the most successful in the country.
Urban Land Institute called the redevelopment at Navy Yard one of the "most successful" in U.S. history. The former military base has attracted more than 150 companies and 12,000 employees since project began more than 15 years ago.
And efforts are underway to help continue the growth of the office park.
"I think you should look forward to hopefully a residential component being layered into the development, so we can create a really urban place at the Navy Yard," said John Grady, president of Philadelphia Industrial Development Corporation. "A place where people can live and work and have recreation and amenities. I think you will look for more connections with our mass transit system and better connecting the Navy Yard to the rest of the city and the region."
Urban Land Institute points out the Navy Yard's college campus-like feel, the building's architecture, green design and recreational spaces.