As college students across the country head back to school this week, I turn my attention to the burgeoning real estate developments around Philadelphia’s universities.
- Temple University recently unveiled Morgan Hall, its new state-of-the-art dorm. By including modern amenities such as flat screen televisions and shared fireplaces, Temple is attempting to encourage students to remain on campus and foster a more typical campus environment.
- Private companies are also getting into the action of providing luxury housing for college students. In University City, American Campus Communities’ Chestnut Square development will do just that and more for Drexel students, as it will also house second outposts of some of Center City’s most popular restaurants, including coZara (Zama’s second location), Zavino, Shake Shack, and Joe Coffee.
- In addition to new campus housing developments, University City may soon be home to a new six story 180,000 square foot office building at 41st and Market Streets. The building’s developer seeks to fill this new building, like its nearby almost fully occupied sister building, with companies aiming to feed off the energy and university-trained talent from Penn and Drexel.