A university that undertakes a leadership role in the redevelopment of its surrounding urban neighborhood faces new and unusual challenges. This article describes of the residential, commercial, and educational initiatives taken by the University of Pennsylvania in West Philadelphia. These included improving public safety, building mixed-use development, a variety of retail and commercial buildings, and a school. The importance of integrated programs and community relations as well as community-building is stressed. Penn’s investments have proven to be the catalyst for attracting approximately $250 million of private investment to the area. Between and 1996 and 2003, crime has fallen 31 percent. Homeownership and the price of houses have increased significantly. More than 150,000 square feet of new retail inventory has been added to University City, with 25 new stores opening over the past four years. Thousands of new jobs for local residents have been created.
1010 Affordable Housing Architecture Asia Australia bonds Borrowing Constraints California Canada China coastal markets cold storage Colombia Commercial Brokerage Commercial Real Estate commissions Congestion consumer bias covid-19 CRE credit card market Credit Default Swaps Credit Insurance Credit Risk Transfers Culture data centers Debt Market Demand Demographics Density Development Discrete Choice disruption Diversity e-Commerce Economic Corridors economic policy economics education election studies Equity Market Ethnic Factors Europe Fannie Mae financial asset management Foreclosures France Freddie Mac general equilibrium Global global economy Global Financial Crisis great depression Great Recession healthy buildings Hedonic hospitality Housing & Residential housing boom Housing Disease housing prices Housing Supply Identity Income Inequality India inflation Inter-generational mobility interest rates Investing Lagging Regions land use regulation Language life sciences Macroeconomics Microeconomics Migration Minimum Payments Mixed-Use Mobility moral hazard mortgage insurance mortgage market Mortgage Rates Mortgages Multi-family Nation Building Non-Traditional Mortgages office sector pension funds Placed Based Policies Political Risk Price Discovery public health public policy Public Schools real estate brokerage Real Estate Investment Real Estate Investment Trusts Recession Rental Retail Retirement reverse mortgages risk management risk-shifting single family housing Slums Sorting South America Spatial Regions spillover effect stimulus package Sub-Prime Mortgages Supply Chains Sustainability Technology telecommunications unemployment United States Urban Urbanization welfare work from home