EDITORIAL: The good luck of area housing

A boom in the housing market is helping University City fill its available student dwellings. Center City's current rental boom is great for University City, as many graduate students, dissatisfied with little selection and high prices downtown, have opted instead to live in West Philadelphia. In fact, with apartments at almost full capacity downtown and even the Penn's grad towers nearly packed, it looks like next year will be just as good for University City housing providers. But this blessing has very little to do with Penn. The conditions that led to this unusually tight real estate market are the result of an economic upswing that could end just as quickly as it started. And that could mean a downturn in housing in the neighborhoods around campus as more Center City properties become available. In the long run, however, the University has numerous opportunities to foster an environment west of the Schuylkill River that will attract students and make them want to pass up the hustle and bustle of downtown. University City is currently almost devoid of two of the main factors graduate students look for -- late-night entertainment and round-the-clock cultural activities. Part of a solution is now in sight, with Penn officials focusing on breathing new life into 40th Street. Over the next three years, 40th Street should start developing into an entertainment mecca, as sought-after sites like a jazz club could join the planned Sundance Cinemas and fresh-food market. Combined with the area's already-rich supply of ethnic cuisine and ongoing revitalization projects, the mix may be powerful. To the east of campus, the University should look at ways of encouraging the construction of new apartments and dynamic housing to attract grad students. After the U.S. Postal Service moves out of its current digs on the west bank of the Schuylkill, we are hopeful that the University will add greenery to its campus and that private developers will build retail and commercial properties that are as attractive as those that already exist just across the river. For the moment, local landlords should look beyond the immediate hot market and make needed repairs and upgrades to the local housing stock. Once University City becomes a choice and not a necessity for many students, it'll take more than promises of future development to keep houses and apartments occupied.