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New development has really put Graduate Hospital on the map

 
If you’re familiar with Philadelphia and its many neighborhoods, then you are definitely familiar with Graduate Hospital; a tiny, well-defined neighborhood in South Philadelphia (or Southwest Center City, it just depends who you ask).

G-Ho, Grad Hosp, and South-of-South are all common names for this nabe, but the real success of Graduate Hospital was kickstarted by Naval Square almost 10 years ago. Toll Brothers purchased this abandoned Naval Academy, which also happened to be the country’s first, back in 1988 as a portfolio project. But it wasn’t until 2005 that the first new homes were built and sold in this gated community.

Fred Glick and I created some informative videos on Graduate not too long ago, so if you haven’t seen them before I’ve posted the links below for you:

Graduate Hospital – Part 1

Graduate Hospital – Part 2

Graduate Hospital – Part 3

Although Naval Square ignited G-Ho’s real estate success, it was the efforts of individual investors/developers who really moved it forward. Philadelphia’s older neighborhoods consist of rowhomes, twin homes, and the like. Which means there are many more homes/parcels on 1 city block than on 1 suburban block. Which also means that you need a lot of like-minded people on board if you want to turn things around. They banded together, and now South-of-South is also known as one of Philadelphia’s top family-friendly neighborhoods.

What was once known as an undesirable place to live due to the threat of a new expressway cutting across its core, has since become one of the most popular neighborhoods in the city.

This article is a great place to start if you are unfamiliar with G-Ho.

How do most Philadelphians get to work everyday?

 
Car?

Bus?

Train?

Subway?

Walk … Run … Bike?

The answer to this question is public transportation.

To put things into perspective, a recent study by the Center City District (CCD) and Central Philadelphia Development Corporation (CPDC) revealed that an astonishing 70% of Philadelphians use public transportation to commute to work. This includes all forms (e.g. bus, train, subway, etc).

Wow, 70%! That’s crazy high.

What does this mean, and why am I blogging about it?

It means that not only has the overall mindset among those living in Philadelphia changed from car-centric to commuter-friendly, but it also forces developers to start thinking differently about their current and future projects. Which in turn, changes the way development is ultimately decided upon across the entire Philadelphia region.

As PlanPhilly notes, 2 local developers were interviewed in this article. They both agree that access to public transportation is a key component during the development planning process.

And it should be.

If 7 out of 10 people already need public transportation to continue their current job commute, why would you build something that does not give them the option to access it easily? Since this trend doesn’t seem to be slowing down anytime soon, it’s only going to become more important in the years to come.

Please also understand that this type of thinking has large real estate implications as well. If 70% of Philadelphians prefer to use public transportation over a car, it will have an impact on home values as well. To be honest, it already does today in some parts of the city; including the neighborhood I call home (Manayunk/Roxborough). Most Manayunk/Roxborough buyers/renters, that I work with today, inquire upfront about their potential public transportation options for each home we view.

My guess is that this post will spawn future posts about public transportation and real estate, but for now, please enjoy a brief introduction to this change in preference.

Modern spaces coming to Graduate Hospital

St. Albans St  |  Graduate Hospital, Philadelphia

 
Mixed-use meets modern architecture. That’s probably the best way I can describe these 2 up-and-coming projects in Philadelphia’s Graduate Hospital neighborhood.

If you are unfamiliar with Graduate Hospital (sometimes referred to as G-Ho, coined by Bradley Maule, founder of the former/newly-resurrected PhillySkyline.com), it may very well be Philadelphia’s most changed neighborhood over the past 10 years.

Formally named after an actual medical center, which used to be known as Graduate Hospital and is now known as Penn Medicine at Rittenhouse, this Center City’ish neighborhood still goes by the G-Ho name but has completely changed its look. Most local residents now prefer to call it Southwest Center City, or South-of-South (being that it’s just south of South St; clever). Its borders are most commonly recognized as being West of Broad St, South of South St, East of the Schuylkill River, and North of Washington Ave.

What has really made this neighborhood come alive in recent years is increased residential demand for Center City living. Center City has always been home to the following zip codes: 19103, 19102, 19107, and 19106. Nowadays, parts of 19130, 19146, and 19147 (among others) have basically become linked to Center City Philadelphia (or Downtown Philadelphia, if you’re not local). And since all of those neighborhoods (including G-Ho) offer similar amenities to Center City (e.g. walkability/bikeability, jobs, parks, restaurants/bars, events, etc.), they have now been meshed together and are being treated almost as one in the same; each with their own unique pros, cons, and prices.

What makes Graduate a little different? Here are a few things, in my professional opinion:

1. It’s heavily residential, and has well defined boundaries.
2. It has a great housing stock, as well as the option to build/buy new construction.
3. It’s has tree-lined streets, parks, and involved neighbors.
4. It’s just south of Rittenhouse/Fitler, just west of BV/QV, and just east of the Schuylkill River Trail.
5. It has an up-and-coming commercial scene on South St West kickstarted by restaurants, shops, and everyday businesses; which has also improved its overall livability.

Since all of this has occurred, prices have skyrocketed over the past 10 years (upwards of 500% in some instances).

Why?

Well, look at some of the reasons I noted above; those are common reasons that are driving people to discover urban living again. It’s a desirable neighborhood (due to its location), it has well defined boundaries (which limit its supply), and it has high demand (as already noted).

Now that you know a little more about G-Ho, check out these 2 new projects that are helping shape an already successful neighborhood into one of Philadelphia’s most desired spots.