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CBD pipeline update: more than 8 million square feet on track for 2018 delivery, mostly in new construction

  • ​2017 has seen over 3 million square feet of new development come online in and around Center City and University City to date, including CHOP’s new Schuylkill River complex, the Aloft and Study hotels, the 1100 Ludlow office building, and more than 1,700 apartments. 
  • 2018 will leave 2017 in the dust with approximately 8.7 million square feet of projects set to deliver. Of that, nearly 30 percent will be office as Comcast Technology Center, 2400 Market, One Franklin, and 3675 Market all come online in the same year. If construction timelines stay on track, a remarkable 3.75 million square feet of new projects will arrive in the third quarter alone, distributed rather evenly across the major real estate food groups. 
  • Nearly 80 percent of all current development is new construction. Approximately 3.3 million square feet of renovation or redevelopment is occurring within existing buildings. 
Source: JLL Research

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