Philly Tech and Real Estate

It’s time to put away the away the champagne and Super Nintendo controllers, because Philly Tech Week has come to a close. It was a week-long celebration of the Philadelphia technology scene and all the great people and companies that made it possible. But now that the party’s over, what does it all mean for would-be residents of the city?

Most people think of the San Francisco bay area as the premier destination for tech. After all, it’s a short ride to Stanford and Palo Alto. But as many readers know the cost of housing there is one of the highest in the country.

In addition to holding some of the most inflated housing prices in the country, San Francisco is facing competition from other cities that are not to be outdone. InvestPhilly.com want to point out why Philadelphia is great city if you’re a technologically oriented renter or mover.

Here are are several facts to consider:

1. Philadelphia is in the top 10 tech hubs in the country.

2. Venture Capital money is pouring into Philadelphia tech startups. 

3. The Philadelphia Navy Yard is a long-running development offering up and coming businesses with a centrally-located waterfront driven by smart energy innovation and sustainability.  Over 150 companies call the yard home and it allows a cross-pollination of talent and skills within the city

Philadelphia also has a strong academic culture. Besides the above list, there are many scholarly incubators, accelerators and technological partners ready to help nurture companies from inception to IPO and beyond.  Incidentally, Penn and Drexel are just a short walk from the many properties we offer in University City.

Penn State, Drexel and Temple all have labs dedicated to public/private collaboration to develop the economy. Temple is conveniently located near both Olde Kensington and Brewerytown, both areas that we represent and have great knowledge about.

Additionally, many IT and other tech companies are putting their headquarters in Center City to attract management talent that wants to be in the heart of town.

When you consider all of these developments, how could anyone, especially the tech savvy stay away from The City of Brotherly Love and Sisterly Affection?

An enthusiast dons a Virtual Reality headset at Philly Tech Week 2017.

An enthusiast dons a Virtual Reality headset at Philly Tech Week 2017.