Home prices, rents, commercial construction and salaries in the neighborhoods that comprise the University City District (UCD) continue to outpace the rest of the city, according to the annual “State of University City” report issued late last week amid increased concerns about federal policies that could slow down the growth of “Eds and Meds.”

Median home prices in the neighborhoods (including Cedar Park, Spruce Hill, Powelton Village and Walnut Hill), were down slightly in 2024, settling at about $375,000, but the number of home sales was up slightly. Median home prices in Cedar Park jumped about 35 percent compared to 2023 and Spruce Hill continued to have the highest home value at about $550,000.

The median home sale price in Philadelphia was about $200,000 last year.

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Keswick Cycle opening in University City in 2011 (Archived photo).

Keswick Cycle has unexpectedly closed its University City location on Locust St. near 40th after 13 years of operation. There were no prior announcements about the closing on their social media, but there is a message on their website that reads simply:

“We are saddened to announce the closing of our University City location.”

The last post on the store’s Facebook page is dated Oct. 15. Some operations at the store are still temporarily ongoing for those who have pending order pickups.

The business was founded in 1933 in Glenside. The University City shop was their only location in Philadelphia. Two other remaining shops are in Glenside and Paoli where customers are now referred to by Keswick Cycle.

Here’s some exciting news coming from the Shop Penn district this summer.

Later this summer, Cork & Candles will be opening a new store at 3421 Walnut Street, bringing the candle making experience to University City. Cork & Candles, a family-owned small business, is a BYOB candle-making experience that invites guests to create, drink, and connect while hand-pouring custom candles.

“Our mission at Cork & Candles is to create a space where friends gather and have the opportunity to build connections while partaking in a creative experience,” says David Straub, Co-Founder and CEO of Cork & Candles. “We believe everyone is creative and we love helping people tap into that side during their time with us.”

At Cork & Candles, guests can gather with friends and explore a scent library stocked with over 60 unique fragrances, creating a custom blend to craft a handmade candle that is truly one-of-a-kind. Guests can also take part in novelty candle classes that rotate monthly. In addition to classes and candle-making experiences, guests can shop a retail section and purchase candles created in-store. While taking part in the candle-making activities, guests are invited to BYOB (wine or beer) and indulge while enjoying a hands-on and creative experience!

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The University City District (UCD) has released its annual State of University City report, which highlights different areas of development in the area in the past year, including real estate, employment, demographics, education, healthcare, transportation and more. During the presentation of the report on Thursday, UCD shared the stories of three innovative neighborhood businesses: Renata’s Kitchen, Two Locals Brewing, and Grant BLVD (check out this video).

Here are some most interesting stats from the 2024 State of University City report:

• University City has 55,953 residents, whose median age is 27.6;

• 84 percent of neighborhood residents work in University City, and 72 percent of jobs pay over $40,000 per year;

• 63 percent of residents ages 25+ have a bachelor’s degree or higher;

• The median single family home sale price is $537,000;

• 4,210 units of multi-family housing (apartments) are expected to be developed in the next three years;

• 929 new units of multi-family housing were developed in the past year;

• The number of new construction permits has decreased from 50 to a little over 10 since 2018.

• 57 percent of neighborhood residents do not use cars to commute;

• 24 percent of households’ primary language is not English.

To download the new report, click here. Read about some previous reports in our archives here.

Van Leeuwen’s storefront at 3631 Walnut St.

Expanding upon the success of their other Philadelphia locations, New York City-based ice cream parlor, Van Leeuwen, is opening their 4th storefront at 3631 Walnut Street, according to a recent announcement by Penn’s Division of Facilities & Real Estate Services.

“We’re looking forward to Van Leeuwen bringing their popular parlor and unique ice cream flavors, including vegan and dairy offerings, to the diverse culinary scene in the Shop Penn District,” said Ed Datz, Penn’s Executive Director of Real Estate.

Based on their belief that “good ice cream is for everyone,” Van Leeuwen has been on a mission since its inception to create the best ice cream with simple ingredients. Led by co-founders Ben Van Leeuwen, Pete Van Leeuwen, and Laura O’Neill, the company began in a yellow ice cream truck on the streets of New York City in 2008. From there they grew in popularity, and their ice cream can now be found in various scoop shops throughout the United States as well as select grocery stores.

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The University City District (UCD) has announced the Green Giving Challenge that would support their greening efforts in the area. UCD’s Green Team has been taking care of the green spaces at The Porch at 30th Street Station, Trolley Portal Gardens at 40th and Baltimore, which have become beautiful urban oases. The team also maintains planters and pedestrian plazas in the neighborhood as well as participates in community cleanups.

Funds raised through the Green Giving Challenge will go to support the Green Team’s work. Here’s how it works:

Community members are invited to contribute to the Challenge online. Donations will be matched up to $25,000 thanks to a generous support from a longtime Spruce Hill resident and founding UCD Board member Barry Grossbach.

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