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turnpike corridor re-investment project Prepared by the Montgomery County Planning Commission, 2013 Turnpike Corridor Montgomery County’s unemployment rate is Reinvestment Project lower than the nation’s 10.0% Project Goal Introduction 9.0% 8.0% Reinvigorate business parks With its many highways and employment 7.0% between the Valley Forge and centers, Montgomery County has been an 6.0% economic powerhouse for decades. The county: 5.0% Willow Grove interchanges of 4.0% the Pennsylvania Turnpike Has over half a million jobs; 3.0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Leads the state in high‐tech jobs; Montgomery County Pennsylvania United States Leads the state in manufacturing jobs; Imports 86,000 more workers from Employment Centers neighboring counes than commute out; and Hatfield Hatboro 29 Souderton Montgomeryville Horsham Has a lower unemployment rate than the Huntingdon ¨¦§476 309 Willow Grove Valley naon or Pennsylvania. Lansdale Area 611 Harleysville Ambler 276 Area ¨¦§ Abington The Turnpike Corridor, with King of Prussia, 663 Ft. Jenkintown Washington 202 Swedeland, Norristown, Plymouth Meeng, Blue ut Glenside 73 Blue Bell Bell, Fort Washington, Willow Grove, Horsham, 73 Cheltenham and other nearby centers, is the backbone of the Plymouth county’s economy. Meeting Norristown ¯ 100 ut422 Conshohocken Upper Providence Valley ¨¦§76 Forge Bala Cynwyd Royersford Pottstown 29 Oaks ¨¦§476 Bryn King of Prussia Mawr Ardmore Wynnewood 30,000 - 50,000 employees 20,000 - 30,000 employees " 10,000 - 20,000 employees # 5,000 - 10,000 employees = Turnpike Corridor Area 1 turnpike corridor re-investment project Montgomery County’s job growth has slowed down Issues Despite these strengths, Montgomery County’s 40% economy does not seem as invincible as it once 35% did. Recently, the County: 30% Has had lackluster job growth; and 25% Has seen tradionally strong industries, such 20% Montgomery County as manufacturing and informaon, adversely 15% affected by structural changes in the naon’s 10% Pennsylvania economy. Life sciences, tradionally strong 5% in the area, has also seen cutbacks. 0% Many of the business parks in the Turnpike ‐5% Corridor were developed decades ago, and these ‐10% 1970‐1980 1980‐1990 1990‐2000 2000‐2010 places are now showing their age, with less Class A office space, lower rents, and higher vacancy Source: County Business Patterns, which does not include the self-employed rates than other employment centers in the region, such as the Philadelphia Navy Yard and Great Valley. Many of the county’s business parks developed decades ago BLS data does not include the self-employed Fort Washington in 1965 2 turnpike corridor re-investment project In addion, although the PA Turnpike has been Pennsylvania Turnpike through Montgomery County (6 interchanges in 20 miles) greatly improved over the past 20 years with extensive widenings and interchange expansions, the road was built as an inter‐city connector rather than a commuter road, and it is Montgomery County being used for both purposes. ! This original design limited the number of ! ! interchanges, with relavely long distances from !! one interchange to the next. Commuter highways, on the other hand, have much closer ! interchanges. To funcon properly as both an inter‐city and commuter highway, the PA Turnpike needs more interchanges in Montgomery County. I 95 from Delaware to Center City (17 interchanges in 20 miles) Philadelphia ! Delaware County ! ! !!! ! ! ! ! ! ! ! ! ! !! The Turnpike’s Interchanges are far apart 3 turnpike corridor re-investment project Opportunities Turnpike Corridor Areas With its excellent connecons to the highway system; easy access to well‐educated workers; Horsham locaon in a prosperous, lower‐tax county with beauful neighborhoods, historic towns, and Horsham/ Willow Grove recreaonal opportunies, the Turnpike Corridor ¨¦§476 is in a strong posion to aract new Fort Washington development. ¨¦§276 Many properes are ready for redevelopment and improvement. The study area affects Plymouth Meeting/ Norristown/ Blue Bell ¯ 8800 acres of exisng office/industrial parks Plymouth and 1600 acres of proposed redevelopment ¨¦§76 at the Willow Grove Naval Air Staon for a King of Prussia Swedeland total of 10,400 acres ¨¦§476 The corridor includes 8 municipalies and 7 school districts, with many more nearby, with all able to increase their tax revenue from = Turnpike Corridor Employment Center new development. Many properties in the Turnpike Corridor can be redeveloped. 4 turnpike corridor re-investment project Places in the county have reinvented themselves. Twenty years ago, Conshohocken was known as an old, distressed industrial town. Today, it is one of the premier office and apartment addresses in the region, with office rents much higher and vacancy rates much lower than other submarkets in the region. The Unisys Property in Whitpain Township is currently being redeveloped and reinvented as a Class A office park with excellent design and amenies. In addion, many municipalies, both within the Turnpike Corridor and outside of it, have begun planning for changes in their employment centers. Conshohocken reinvented itself, becoming a premier office and apartment location. King of Prussia has approved a Business Improvement District and is considering zoning changes. Lower Merion adopted new mixed use and more intensive zoning for the Bala Cynwyd office area on City Avenue. Lower Providence adopted new mixed use zoning for the Valley Forge Corporate Center. Upper Dublin is considering transfer of development rights zoning for Fort Washington that would get development out of the floodplain. The Unisys complex in Whitpain Township is being reborn as Arborcrest. 5 turnpike corridor re-investment project Opportunities There are also transportaon opportunies in the Turnpike Corridor. All‐Electronic Tolling (AET), which allows Purpose of Report exisng interchanges to be modernized and This report idenfies potenal new interchanges to be considered, may be PA Turnpike slip ramp locaons implemented for the whole Turnpike over the next decade. and possible municipal zoning and land use changes near the The Turnpike is conducng a feasibility study for widening to 8 lanes between the Mid‐ Turnpike Corridor that, County and Bensalem interchanges. together, will help reinvigorate A Strategic Plan is underway to guide the the county’s older business Turnpike’s business decisions. parks. New state P3 Legislaon, Public Private Partnership, could be used to implement recommendaons. 6 turnpike corridor re-investment project Market Trends 7 turnpike corridor re-investment project General Trends The naon is slowly recovering from the Great campuses, office parks, business centers, and growing places? The answer is probably both— Recession. What direcon will new growth go? flex space could remain very popular for the in some areas, mixed use walkable business Will new offices and businesses connue to reasons they were created in the first place ‐ parks will be more popular, while in others, gravitate to suburban business parks or will they excellent highway access, a dhighly skille and tradional business parks will remain the norm. go elsewhere. Some forecasters think a large educated workforce, relavely low taxes, a With the Great Recession sll reverberang shi is already happening: strong and diverse county economy, and high‐ through the economy and globalizaon quality communies and residenal connuing, it’s always difficult to predict what The convenonal American suburban office neighborhoods. the economy will do. park is rapidly becoming an outdated model of development as both employers and When asked why he chose Collegeville, employees shi their expectaons of the Montgomery County for the relocaon of an 800 workplace from yesterday’s model of an person research facility, Andrew Liveris, the CEO office in a park to an office in a place. of Dow Chemical, responded, “Human capital. ‐ Urban Land Magazine, June, 2009 There is a lot of talent here ‐ we have the ability to grow it and put it all in one place. We wanted Once a symbol of suburban dominance, a Northeast Technology Center. It would be office parks from California to New Jersey are nonsensical to set up something in other parts.” being reimagined as lile cies. Hoping to ‐ The Philadelphia Inquirer, August 1, 2013 stave off suburban blight, local officials in more than a dozen communies have In a November, 2013 arcle tled The City or the Will suburban offices have higher vacancy rates? approved plans for developers to turn aging ‘Burbs? Most Go for the Green, the Philadelphia corporate parks into urban‐style complexes Journal analyzed the 100 privately held local with amenies including apartments, stores, companies with the largest percentage revenue movie theaters, bike paths, and office space. growth. Nong that 34 of these were in ‐ The Wall Street Journal, May 21, 2013 Montgomery County and only 20 in the city, the paper concluded that the suburbs remain a very Certainly, this conversion of old office parks into aracve place for growing companies. mixed use centers is occurring in different parts of the country, with some of the most cung So, which is right? Are tradional suburban edge new development following a mixed use office and business parks going the way of the horse and buggy? Or, will they remain viable, paern. On the other hand, corporate Or will they remain a growing part of the county’s economy? 9 turnpike corridor re-investment project Mixed Use Areas Naonally, there is great interest in mixed use A number of companies have relocated or stayed downtown to provide beer access and a areas that provide a more vibrant and in older downtowns for this reason. Examples more diverse work environment. smulang environment for workers. Why? include: United Airlines, Navteq Corporaon, and Much of this interest is driven by Generaons X American Eagle Ouiers moved its Allscripts Healthcare Soluons moved from and Y and the start up entrepreneurs coming out headquarters from the Pisburgh suburbs to the Chicago suburbs back to the downtown. of these generaons.

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