Urban Visionary Sponsor Spotlight: Brandywine Realty Trust

Urban revitalization has emerged as one of the most significant real estate and economic trends in over 40 years, according to Emerging Trends in Real Estate, spurring transformational growth. This movement, paired with the evolving public-private initiatives led by influential leaders in Greater Philadelphia, the region continues to experience substantial economic gains. In 2019, with the aging millennial population, we are also experiencing a renewed interest in suburban living, strengthening economic opportunities for the region as a whole.

This positive economic activity – in the form of headquarter expansions and relocations, improvements in talent attraction & retention, an explosive and highly diverse culinary scene, and substantial investments to enhance the public realm – has led to dramatic expansion beyond the city’s central business district. Urban neighborhoods, like Fishtown and University City, have become highly desirable cultural and innovation districts for business and lifestyle. King of Prussia—considered a model urban submarket among global audiences—has grown to become the third largest employment center in our region, home to more than 4,000 businesses and 60,000 employees.

Fostering improved interconnectivity between the region’s leading economic hubs will propel Philadelphia forward and maximize opportunities for exponential expansion. However, to realize this vision, investments in strategic multi-modal transit systems must be made.

The Southeast Partnership for Mobility, a partnership launched by SEPTA and the PA Turnpike Commission in coordination with the Pennsylvania Department of Transportation (PennDOT), has developed a vision to meet growing mobility challenges and resources to establish funding for major expansion projects that will allow the Greater Philadelphia region to emerge as a world-class region, with notable connections between its core economic hubs.

Jerry Sweeney, president & CEO of Brandywine Realty Trust, one of the nation’s leading full-service real estate companies, has emerged as a leading stakeholder and influential voice in advocating for transit improvements through his work with the Southeast Partnership for Mobility, and his positions as the Chair of the King of Prussia Rail Coalition and member of Chamber of Commerce for Greater Philadelphia’s CEO Council for Growth. He stated, “as a centrally-located economic hub, these core projects will not only improve accessibility between the Philadelphia’s top districts and suburban markets, but also connect leading urban centers along the Northeast Corridor, enabling streamlined connectivity for both passenger and commercial transportation. This interconnectivity will position Philadelphia to better compete with the nation’s top cities, while stimulating job growth and talent attraction.”

In addition to its role as an influential and leading developer in Philadelphia, Brandywine has also invested heavily in Austin, TX and Washington, D.C. – urban regions the company identified as high growth centers, both of which have also placed a high priority on improved transit. Washington, D.C., which has long served as a leader in transportation continues to make investments to enhance its transportation centers and expand reach into disjointed communities to support new development and population growth. Union Station, the second busiest passenger rail line in the nation, expects ridership to double in the next decade. An $8.5 billion, multi-phase project spanning decades, will introduce new concourses and a massive mixed-use development above its railyard, while plans for the 23-mile Metrorail Silver Line will add 11 new stations along the burgeoning Dulles corridor. In Austin, TX, one of the nation’s leading cities for talent and business attraction, just approved a long-term major transportation plan that will strategically guide the city’s transportation network for the next 40 years. A goal of the plan is to reduce the current rate of 74% solo commuters to a 50-50 split encouraging less traffic-intensive modes of travel like rail, buses or bikes.

“Like Washington, D.C. and Austin, Philadelphians understand the need for these highly-valuable transit projects, and we have the strategic plans, public-private partnerships and passionate civic and business leaders to bring our goals for a high-functioning and well-connected transit system to fruition – our only remaining hurdle is appropriate funding,” continued Sweeney. “If we continue to work closely with SEPTA and partner organizations, as well as state and federal governments, to identify funding sources, Philadelphia can solidify its place as a global leader.”