Drexel University is poised to make good on two once-in-a-generation opportunities: the maturation of its world-renowned applied research enterprise, and the fact that the University has assembled a collection of urban properties unmatched in the nation for location and potential. The Drexel Innovation Neighborhood™ offers partners the opportunity to locate innovative businesses in a revolutionary new Learn/Live/Work neighborhood between one of the nation’s great urban academic centers and the transit hub at the heart of the Northeast Corridor.
The Innovation Neighborhood™ is the centerpiece of Drexel University’s strategic focus on research, technology transfer and economic development. It will transform Philadelphia and take a place alongside innovation centers like Cambridge and Silicon Valley.
Drexel has acquired 12-plus acres of underdeveloped land next to its campus in University City, Philadelphia, and adjacent to 30th Street Station, the transit hub of America’s fifth-largest city.
The site sits squarely between Philadelphia’s thriving Center City and the remarkable intellectual ecosystem of University City (home to Drexel, Penn, University of the Sciences and the University City Science Center). The majority of the land has been designated a Pennsylvania Keystone Opportunity Zone, offering important tax incentives for office, retail and hospitality uses.
The site also forms the gateway to the Penn Coach railyards. Drexel and Amtrak are working jointly to study possible development of the air rights to the yards, which represent the next great frontier of transformative development in the city.
With the nation’s financial and political capitals located in either direction along the Northeast Corridor (and each an hour or less away with next-generation high-speed rail), the Innovation Neighborhood™ is the perfect place for new, transformative technologies and businesses to take root.
The Innovation Neighborhood™ will house technology partnerships, industrial joint ventures, interdisciplinary academic and research programs, business incubators and more. Offices and laboratories, classroom space and residential and retail property will develop in tandem to create a dense, mixed-use neighborhood.
Philadelphia is on the cusp of an “innovation generation,” with a spot in the vanguard of the emerging creative economy. Drexel’s Innovation Neighborhood™ will be the place where that generation converges.