Real Estate & Development Overview
Big or small, global or startup, the Navy Yard is a community of people and companies working alongside each other in an environment that is flexible, customizable, and often unconventional. These unique spaces come in varying heights, vintages, and floorplates; can accommodate business growth and expansion; and provide access to a large and talented regional workforce.
Contact us at properties@navyyard.org to learn more about leasing and development opportunities.
Explore available properties to lease, including Class A executive offices and sun-filled waterfront suites in historic officer’s quarters. Leasable spaces at the Navy Yard range from micro-offices perfect for small startups to expansive corporate suites, and even include adaptable industrial buildings. SEARCH AVAILABLE PROPERTIES
Future development at the Navy Yard continues to focus on creating unique spaces for employment—expanding businesses, adding residential development, and enhancing streets with ground floor restaurants and retail. As the Navy Yard grows, its development team will continue its commitment to high-quality design, historic preservation, and sustainability.
Companies seeking iconic corporate headquarters or specialized R&D space unlike anything else in the region can participate in the continued growth of the Navy Yard.
Contact us at properties@navyyard.org to learn more about leasing and development opportunities.
The 2022 Navy Yard Plan charts the next 20 years of equitable growth at the Navy Yard, delivering an estimated 12,000 new jobs, 8.9 million square feet of new mixed-use development, and $6B of new investment. This update reflects the successful development of an expanding community of 150 employers and 15,000 workers, and builds upon that success with an ambitious but achievable plan for equitable economic growth and the creation of a community to live, work, make, and play. LEARN MORE ABOUT THE NAVY YARD MASTER PLAN
Choosing the Navy Yard for your business makes financing opportunities and tax incentives available to qualified companies. PIDC, Philadelphia’s public-private economic development corporation and the Navy Yard’s master developer, works with the City of Philadelphia, the Chamber of Commerce for Greater Philadelphia, the Commonwealth of Pennsylvania, and others to develop and promote a comprehensive set of economic development tools and incentives, ranging from workforce training and recruiting support to streamlined permitting and planning processes.
FINANCING
PIDC offers a wide range of loans, tax-exempt financing, and technical assistance to businesses, developers, and non-profits of all shapes and sizes. Learn how we can connect you to the capital you need to grow. LEARN MORE
TAX INCENTIVES
KEYSTONE INNOVATION ZONE (KIZ)
The Navy Yard Keystone Innovation Zone promotes technology innovation and commercialization through the collaboration of world-class academic institutions, federal, state, and local government agencies, and private industry, to support growth of research and business activity focused on the following technology sectors: Power and Energy, Nanotechnology, Advanced Materials & Manufacturing, Communications and IT, Homeland Security, Life Sciences. LEARN MORE
KEYSTONE OPPORTUNITY ZONE (KOZ)
Businesses located in the Navy Yard’s Keystone Opportunity Zone can qualify for reductions, exemptions, abatements, or credits for most city and state taxes, including corporate taxes, franchise taxes, financial institution taxes, income taxes, and real estate taxes, for up to 10 years. In addition, most purchases of items subject to sales and use tax will be exempt from state and local sales and use tax for property used, consumed and utilized in the KOZ. LEARN MORE
REAL ESTATE TAX ABATEMENTS
The City of Philadelphia provides a 10-year abatement of incremental real estate taxes for new industrial and commercial construction, as well as for substantial improvements to existing buildings.
FEDERAL AND STATE HISTORIC TAX CREDITS
The Navy Yard Historic District is on the National Register of Historic Places. As a result, federal tax credits worth up to 20% of qualified rehabilitation costs may be available for building restorations, as well as a state tax credit of up to $500,000.
RESEARCH AND DEVELOPMENT TAX CREDITS
Established to assist the growth and development of technology-oriented businesses, particularly small startup technology companies, R&D tax credits are issued by the Commonwealth of Pennsylvania.
CITY OF PHILADELPHIA JOB CREATION TAX CREDIT
The City of Philadelphia offers a Job Creation Tax Credit, which may be applied against the Business Income and Receipts Tax (BIRT) for up to $25,000 per job created. Qualifying businesses may claim a credit of an amount equal to $5,000 per year over five years for each new full-time job created in the City of Philadelphia. To qualify, a business must demonstrate the ability to create at least 25 new full-time jobs, or increase its full-time workforce in Philadelphia by at least 20% within a five-year period. LEARN MORE
Philadelphia has the energy and amenities of a big city, yet maintains the close-knit feel of a small town thanks to its unique and walkable neighborhoods. Strategically located at the heart of the Northeast Corridor of the United States, it’s the second-largest city on the East Coast and a leader in developing and attracting top talent, with a regional workforce of 3 million. As one of the city’s top employment centers, the Navy Yard is directly connected to the talent, education, art, culture, science, entertainment, food, and history that makes Philadelphia so desirable.
CONNECTION
Midway between the nation’s financial capital and its political capital, Philadelphia enjoys prime strategic location. The city is within a five-hour drive of one-quarter of the U.S. population, and its booming airport, an expansion-minded port, and enviable rail and highway connections link the city to a huge regional market and the world.
LIFESTYLE
Living and working in Philadelphia means enjoying its impressive waterfront; brilliant downtown; many affordable, vibrant neighborhoods; and hundreds of cutting-edge restaurants and retail options. Locals and visitors also enjoy historic landmarks, world-class museums, theaters, and other arts and culture venues, peaceful urban parks, and walkable streets with unique architectural vistas – and let’s not forget the greatest professional and amateur athletic teams anywhere!
ECONOMY
Philadelphia’s diverse regional economy is anchored by more than 101 award-winning colleges and research universities, sophisticated life sciences and healthcare industries, and a deep pool of talent. The city is strongly supported by a corporate culture that highly values civic engagement with the public sector, particularly in the continuing development of our smart, skilled workforce.