PHILADELPHIA (CBS) – The Philadelphia Navy Yard has gone from hard times to boom times and there’s more to come.
Remember all the angst in the 1990s as the closing of the historic Navy Yard neared? The Philadelphia Industrial Developement Corporation took charge 10 years ago and executive VP John Grady says they crafted a vision.
“The plan in 2004 really tried to establish an image for the property as a progressive, sustainable, urban business campus.”
Grady says the Navy Yard is about the size of Center City and there’s a lot of upside left.
“We think in the long-term the Navy Yard has the capacity to support maybe 12 million to 15 million square feet of developement and 20,000 to 30,000 jobs. Today we’re at 8,000 jobs and maybe 6 million square feet.”
Of those 8,000 employees, about 90 percent drive to work.
Glaxo Smith Kline and Urban Outfitters are moving or expanding there, but the biggest employer is still the Navy.
Reported by John Ostapkovich, KYW Newsradio