Philadelphia Industrial Development Corporation (“PIDC”)
Industrial Master Plan Development Strategy – Philadelphia, PA
The 3,116-acre Lower Schuylkill River District (“LSRD”) is a historically industrial area located on the east and west banks of the Schuylkill River. This area is very important to future industrial development in the City, as it contains 68% of the City’s vacant and under-utilized industrial land. Further, it abuts four of Philadelphia’s key economic drivers, including Center City, University City, the Philadelphia International Airport, and the Navy Yard. Unfortunately, environmental contamination, outdated infrastructure and inefficient access currently challenge new businesses and investment in the LSRD.
RESGroup was part of a consultant team tasked with creating a master plan for the LSRD. To help quantify the types of industrial demand that could occur in this area over the next 15 years, RESGroup analyzed the historic absorption of industrial space for the LSRD, City of Philadelphia and larger 8-county region, reviewed employment growth and projections in targeted industrial sectors, and interviewed area stakeholders and potential generators of demand for industrial space. The research, analysis and resulting absorption forecasts prepared by RESGroup served as the basis for the planning and other activities to be performed by the rest of the consultant team. RESGroup remains active on the engagement, advising the team and client on development issues related to the master plan.