In University City, the academic institutions after which the area is named are continuing to stretch out in all directions. Just last week, for example, Drexel University reported that they had acquired, for a mere $8.9M, a triangular parcel at 32nd & Market that currently houses a Firestone auto repair shop.

Firestone building

While the Firestone will continue to operate for up to three more years, still undetermined future plans for the site may include student housing, retail, academic space, or a mixed-use development, according to a press release. The 26,675 sq ft parcel is located right in the jugular of the Drexel campus, and only a few paces from 30th Street Station. It’s also situated in a location central to Drexel’s strategic and master plans, which call for the development of a superblock along Market Street that will serve as a gateway to University City, which happens to also be the purpose of the school’s $97.6M Chestnut Square project, which included the construction of a new housing tower.

New LeBow building across the street

To say the folks running Drexel have been busy of late would be understating the fact. In this past year, the school has announced plans to construct a 24-story dorm at 34th & Lancaster, the 1.3 acre Dana and David Dornsife Center for Neighborhood Partnerships at 35th & Spring Garden, and plans to conduct a multi-million dollar feasibility study regarding development of the SEPTA rail yards. Plus, there is the new LeBow Business School also being constructed at 32nd & Market. These individual projects add up to drastic changes in the makeup of University City and its skyline.

And they contribute millions of millions of dollars to the city’s annual economy.  And we think, that must be a positive contribution.

–Lou Mancinelli