John Grady
For someone like Philadelphia Industrial Development Corp. chief executive John Grady, who has spent his entire career boosting cities, what's happening in Philadelphia now must be some kind of happy vindication, right?
For someone like Philadelphia Industrial Development Corp. chief executive John Grady, who has spent his entire career boosting cities, what's happening in Philadelphia now must be some kind of happy vindication, right?
"It's a little bit better to be working in cities right now than it was in the '70s and '80s, for sure," said Grady, 48.
"We're coming out of this 50-year period where cities were not in favor of the predominant cultural trend, which was people moving to the suburbs," Grady said. "Cities fought uphill against that trend for a really long time."
Grady had a front-row seat in that battle. He began his career in urban development in Camden and now leads the Philadelphia Industrial Development Corp.
PIDC, which spearheaded development at the Navy Yard, helps find financing, including tax credit funding, for projects such as the Gallery makeover, makes loans to small businesses, maintains a land bank of industrial space, and connects foreign investors to local projects.
"In Philadelphia," he said, "we've seen seven years of population increases in the big demographic areas of baby boomers returning to the city and of millennials who are coming into the city, a lot for the first time," because they grew up in the suburbs.
What are the implications of this population growth after decades of decline?
It presents an opportunity for the next several generations to capitalize on - to continue to attract talent, retain that talent and grow that talent here.
What will be the main focus for people in your line of work?
The ability to attract and retain talent is going to be the primary focus for cities. That's how we will attract employers and a tax base, and generate the revenues we need to support the quality of life that differentiates cities.
What about the suburbs?
The suburbs are going to transition. I think some of the close-in suburbs, like Narberth or Glenside, those towns that have a quality of life, good schools, will continue to attract young families.
Some of the more isolated suburbs that haven't integrated their population and their uses are going to struggle to find ways to do that.
What do you mean?
You're starting to see large suburban office parks trying to build apartments in an effort to get people to this live/work [lifestyle]. They see that happening in the city and are responding. [But can] they really replicate the authenticity people seem to be seeking? It's not just about having a bedroom near where you work. It's about the quality of life that you can enjoy.
Temple is considering a stadium. Are stadiums a good use of public funds?
That is two different discussions. The stadium Temple is looking at has a whole set of valuation points around why is that important to Temple - the ability to attract students, to create a quality of life on campus.
What about in general?
Professional sports stadiums have been a huge boost for the city. We helped to facilitate the land and the financing sector. The city's investment has been more than repaid from revenue that gets generated from those facilities.
Wouldn't the teams have been able to build on their own without public money?
No. There's a reason why Philadelphia is only one of maybe two major cities in the country that have all their sports teams playing inside city limits. [Otherwise] teams will go to the suburban areas and get money to build there. It was important to keep the facilities [and] revenues here.
PIDC helped put together $213 million in financing for the Gallery makeover. Now there are delays.
The redevelopment of the Gallery will deliver much needed improvements to the public environment on East Market Street, new retail and food and beverage amenities for the workers, residents and tourists and will be a new driver for job and revenue growth for the city. If that ends up taking a few extra months, I think people will judge it to be worthwhile.
Any advice for young people trying to get into urban planning?
Find places where you think people are active and where there are things happening and where you can learn.
Interview questions and answers have been edited for space.
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