Letter to the Editor Published in the Philadelphia Business Journal 11/4/2011 Philadelphia has an important opportunity over the next two months to create a clear, transparent and predictable zoning process that will facilitate investment, job retention and job creation in the city. By adopting a new zoning code in 2011, Philadelphia can send a clear message that the city is open for business and is transforming itself into a transparent, responsive, and efficient place in which to invest. Our firms, Liberty Property Trust and Brandywine Realty Trust, have invested in Philadelphia consistently over the last quarter century. Yet our combined investments – Brandywine’s nearly six million square feet of Class A office space in Center City and University City and Liberty’s $1.5 billion in development projects in northeast Philadelphia, in Center City, and the Navy Yard – have not been enough to stem Philadelphia’s historic job loss. During the last 40 years, one in four jobs has disappeared. The City’s dated and confusing zoning code adds cost and makes the city less competitive as a location for business. We are convinced that a new, well-thought-out code will set clear guidelines and reduce the uncertainty and risk that has discouraged national or international investment. No zoning code will be perfect and no zoning code will ever be able to address every sensitivity or nuance in the development process. However, we firmly believe that the efforts currently embodied in the proposed zoning code are major steps in the right direction. That is why we applaud City Council for its leadership on this issue and encourage council members and the administration to give this city the zoning tools it needs to move forward, create jobs and position us for overall economic prosperity. Gerard H. Sweeney President and CEO Brandywine Realty Trust
John Gattuso Senior VP and Regional Director Urban & National Development Liberty Property Trust