MAYOR NUTTER AND PIDC CELEBRATE REACHING 10,000 JOBS AT THE NAVY YARD

MAYOR NUTTER AND PIDC CELEBRATE REACHING 10,000 JOBS AT THE NAVY YARD  AND UNVEIL AN UPDATED MASTER PLAN TO GUIDE FUTURE GROWTH

Jobs exceed pre-closure level; growth expected to triple at full build-out

On February 1, the Philadelphia Industrial Development Corporation (PIDC), Philadelphia’s citywide economic development corporation, was joined by Mayor Michael A. Nutter and many of the public and private sector partners and tenants to celebrate reaching 10,000 employees at The Navy Yard, and to unveil an updated Master Plan to accommodate the phenomenal investment and job growth that has made The Navy Yard the most successful Navy base redevelopment in the country.

The 10,000-employee milestone confirms the rebirth of The Navy Yard as it exceeds pre-closure employment levels at the former Navy base. The Base Realignment and Closure (BRAC) announcements of 1991 and 1995 brought the closure of nearly all naval activities at the former Naval Shipyard. The only Navy facilities that remained after the 1995 BRAC were Naval Ship Systems Engineering Station (NAVSSES), the Propeller Shop and Foundry, and the Naval Inactive Ship Maintenance Facility, all which remain in operations to this day. The event was hosted in the Navy’s Building 77 High, a state-of-the-art NAVSSES engineering and propulsion test site with a $1.2 billion annual research and development budget.

Today, The Navy Yard is a thriving 1,200 acre business campus with 130 companies occupying more than 6.5 million square feet of office, industrial, manufacturing, and research and development space. In its new form, The Navy Yard has reemerged as one of the region’s most important centers of employment as it attracts new businesses and investment to Philadelphia. Since 2000, when the Philadelphia Authority for Industrial Development acquired 1,000 acres on behalf of the City of Philadelphia, more than $130 million in publicly funded infrastructure improvements has leveraged in excess of $700 million in new private investment.

“Make no mistake—The Navy Yard is a major engine of economic growth, and it promises to be better than ever in the years to come,” said Mayor Nutter, who was the keynote speaker at the celebratory event. “Today’s event marks a significant milestone in this long-term public-private partnership led by PIDC that has brought The Navy Yard from the uncertainty of the early 1990’s, through the acquisition of the property in the early 2000’s to now. The Navy Yard has established itself as a vibrant, progressive campus leading the region and the nation in high performance design, sustainability and smart energy innovation.”

Mayor Nutter continued, “The Navy Yard serves as one of the most important gateways for entrepreneurship and employment in Philadelphia. Over the past decade, the City, PIDC and its development partners Liberty Property Trust and Synterra Partners have enjoyed an unprecedented level of success in attracting 130 businesses to The Navy Yard, of which 65% are new to Philadelphia.  The momentum at The Navy Yard only has accelerated throughout the recent recession, as we have added 60 new companies and 2,500 employees since 2008 alone.”

John Grady, President of PIDC, said the campus will formally reach the 10,000-employee mark when GlaxoSmithKline completes its current transition into their new, 208,000 square-foot building at The Navy Yard.

“We want to thank all 130 companies and 10,000 employees for helping us reach this historic point in The Navy Yard’s rebirth,” Grady said.  “This achievement reflects the commitments made by private employers, universities, developers, and the Navy, who have all taken the risks to locate and grow their businesses at The Navy Yard, as well as the people who come to work here every day.  These organizations and individuals have been critical to shaping The Navy Yard campus into an innovative, collaborative, and exciting place to work.” As a thank you, PIDC invited employees at The Navy Yard to enjoy complimentary lunches provided by 15 of the city’s gourmet food trucks.

“With The Navy Yard’s growing reputation as a national hub for innovative energy and sustainability practices,” Grady continued, “our next step is to manage the growth of the campus with this updated Master Plan, providing a blueprint for the continued development of The Navy Yard as a vital economic engine for the city and region, as well as a leading demonstration ground for the nation.”

“My colleagues and I are thrilled to return to The Navy Yard to celebrate the success of our 2004 Master Plan, to see what has unfolded to date, and to present the 2013 Master Plan Update that will carry The Navy Yard into the future,” said Robert A.M. Stern, founder and senior partner of Robert A.M. Stern Architects. “Any good master plan has to change as circumstances change—and in this case, it’s wonderful to work with a plan that is in many ways a victim of its own success. But though our plan has evolved, I’m here to assure you that its basic principles are intact: the update proposes, as did our original plan, a dynamic mixed-use waterfront community with all that a great city can offer.” Robert A.M. Stern Architects served as lead planner for the 2013 Master Plan Update; the planning team also included Michael Van Valkenburgh Associates for landscape architecture and Pennoni Associates for civil engineering.

The Master Plan 2013 Update allows for an expansion of this dynamic, mixed-use campus, based on historic preservation, sustainability, and smart growth. The Plan’s vision includes environmentally friendly workplaces, notable architecture, industrial and commercial development, great public spaces, waterfront amenities, improved mass transit, and residential development. At full build-out, The Navy Yard will support up to 13.5 million square feet of facilities, attract $3 billion in private investment, and employ more than 30,000 people.

Stern presented The Navy Yard Master Plan 2013 Update, detailing the continued development of The Navy Yard as a progressive, sustainable, urban, waterfront campus, including the following:

• Update to the five distinct yet interrelated districts at the site, including: the Central Green District (renamed from the Corporate Center), which will support up to 1.4 million square feet of recently developed and new construction high performance office buildings, as well as beautiful public spaces;

• An expanded and refined Historic Core, which will support up to 4.5 million square feet of space, including a potential expansion of Navy research facilities, additional amenities, and a proposal for the introduction of approximately 1,000 units of residential apartments that will reinforce The Navy Yard’s sense of neighborhood and create an urban live-work environment;

• A dynamic new Canal District, along the Delaware River, which features the creation of a new 100’ x 1,000’ “canal” as the anchoring open space element for up to 948,000 square feet of future commercial and mixed-use development;

• The Mustin Park District, southeast of the Central Green District, which can support up to 700,000 square feet of new office space, as well as nearly 175,000 square feet of flex, research, and light manufacturing space, organized around a new 7-acre park;

• A new Port Expansion Area, located at the eastern end of the site, to be developed by the Philadelphia Regional Port Authority, including the PRPA’s proposed Southport marine terminal, and an additional 1 million square feet of related warehouse and distribution facilities; and

• A continuing focus on environmentally sustainable development through the development of green infrastructure, high-performance buildings, and historic preservation.

“The continued focus on master planning at The Navy Yard by the City and PIDC reinforces the value of long-term planning to attract investment and job growth. Not only does The Navy Yard Master Plan lay out an exciting future for this expanding business district, but it also seamlessly integrates with the City’s comprehensive Philadelphia2035 plan,” said Alan Greenberger, Deputy Mayor for Economic Development and Director of Commerce.

“The Navy Yard has fulfilled its initial promise of becoming a center for business, innovation, investment, talent, and jobs,” said William P. Hankowsky, Chairman, President, and CEO of Liberty Property Trust. “For 40 years, Liberty has invested in the City of Philadelphia, and we have always viewed our partnership in The Navy Yard as a logical extension of that commitment. Experience tells us that companies are attracted to The Navy Yard because of its progressive focus on high performance development and its environment for growth, and we remain excited not only about our current activity at The Navy Yard but also about the future mapped out by this updated Master Plan.”

For more information about The Navy Yard, or to view the Master Plan 2013 Update, please visit navyyard.org.

About The Navy Yard

The Navy Yard is a 1,200 acre, dynamic urban development, offering the Philadelphia region a unique and centrally-located business campus with an uncompromising commitment to sustainability.  The Navy Yard is home to over 130 companies and 10,000 employees in the office, industrial and manufacturing, and research and development sectors, occupying 6.5 million square feet of real estate in a mix of historic buildings and new LEED® certified construction.

About Philadelphia Industrial Development Corporation

The Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s economic development corporation. Founded in 1958 as a non-profit, public-private partnership between the City of Philadelphia and the Greater Philadelphia Chamber of Commerce, PIDC plans and implements financing and real estate transactions throughout all neighborhoods that attract investments and jobs to Philadelphia. In its master developer role at The Navy Yard, PIDC’s Real Estate Group manages all aspects of the property’s management and development, including master planning, leasing, property management, infrastructure development, utility operation, and structuring development transactions.

For more information please contact Jennifer Tran at 215.218.2854 or .