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Major Growth Expected Along North Broad Street

PHILADELPHIA (CBS) - It's been a year since the North Broad Renaissance took charge of one of the most traveled sections of road in North Philadelphia.

Now, the group has issued its first status report.

Titled "State of North Broad" the report highlights the many opportunities popping up along North Broad Street, including more than $1-billion in new development and a nearly 25-percent population growth by 2021.

"North Broad is going to have three times the number of people coming and building up on North Broad than in the entire Philadelphia," says Shalimar Thomas -- executive director of the North Broad Renaissance.

She says the new folks moving in are young, diverse, educated and highly skilled demographic with most employers from the health and education industry:

"The question is how do we prepare the community to take advantage of these jobs?"

The report states current residents along the corridor earn about $14,000 per capita. The boon could mean they won't be able to afford the living cost increase.

"What we want to do is help them stay there," adds Thomas.

The method: education, training and jobs.

The full report is available here.

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