On the northeast side of downtown Philadelphia, a 250,000-square-foot building will be remodeled into a media center geared towards millennials. The project is estimated to cost up to $50 million, and will feature an open floor plan for 1,000 to 1,500 workers. For the companies moving into the building, being able to actively recruit at nearby Philadelphia schools is a major benefit.
The new space, called SoNo, will encourage collaboration, which millennial-centered companies value more than individual work. The vast amount of common space will feature a cafeteria, a gym, and even parking spaces for 70 bicycles. With everything in biking distance, there will be little need to drive. The areas surrounding the workplace will contain shops, restaurants, and entertainment. As is the trend, homes will also be built to accommodate the additional urban professionals. This is particularly appealing to recent graduates from expensive cities. Many grads realize they can get a better value home in downtown Philadelphia as compared to other popular cities like New York and D.C. With homes being sold before they are even finished, it is easy to see that the area is popular and growing.
SoNo is projected to finish in the next 24 months, and will hopefully close the gap between Old City in the south and Northern Liberties in the North. If everything goes well, downtown Philadelphia will attract many millennials to the much desired “live, work, play” environment.