UCD study looks to improve 40th Street

With the construction of a movie theater complex, a fresh foods market and an 800-car parking garage in the works at 40th and Walnut streets, the economic growth of the 40th Street commercial corridor -- often referred to as the "Main Street" of University City -- has become an even greater point of interest with community officials. With the goal of analyzing the commercial potential of the corridor and finding ways to make the area an even greater asset to the community, the University City District this week released the results of a nine-month retail market study that presents recommendations for furthering the economic growth of the corridor. The study, began in October 1998 and finished last month, analyzes the demographics of the area and the present retail mix of the corridor -- defined as the region from 39th to 41st streets between Filbert Street and Baltimore Avenue -- and identifies potential improvements to the area that may spur further commercial revitalization. According to UCD officials, University City's international character and unique consumer mix promise to make the 40th Street corridor one of the city's most unique commercial districts. "It's that demographic diversity that really was an underpinning for this entire process," UCD Executive Director Paul Steinke said Tuesday. The study suggests many potential improvements to the corridor, including continued improvements to the street's aesthetics, creating a strategic plan for leasing space to help new retailers establish businesses in the area, creating more space for retail along the corridor and market 40th Street as a unique shopping, dining and entertainment destination. "I think that an improved corridor is to everyone's benefit in the community," said area realtor Lindsay Johnston, the former head of the 40th Street Area Business Association. Both University and community officials agree that the opening of the Robert Redford-backed cinema complex, market and parking garage will serve as a catalyst, spurring further revitalization of the corridor. Officials hope that recent renovations to the 40th Street streetscape between Walnut and Chestnut streets -- which were completed by the UCD with a grant from Penn -- coupled with future renovations on the corridor to be conducted by the City of Philadelphia, will make 40th Street a more attractive shopping and entertainment destination for people across the city and around the region. The study was conducted with the assistance of a community steering committee -- formed this past February and composed of Penn officials, community residents and area businesspeople -- and an urban retail development consultant firm, Square Foot LLC. The funding for the $15,000 study came from the Penn grant which also funded the 40th Street streetscape improvements this past spring. The UCD now plans to work with the steering committee to develop further leasing and merchandising plans for the area as well as encouraging area institutions, businesspeople and organizations to review the study and help implement tangible change in the corridor. "Our hope is that, ultimately, University City will have in 40th Street a real destination for residents, for students and for employees to meet, to shop and to dine," Steinke said. The study compiles and analyzes the results of a photographic catalog of storefronts, demographic data and a survey conducted along 40th Street and by mail that received 217 responses. According to the study, the commercial corridor has both strengths and weaknesses. Some strengths include the large student and employee daytime population, a large residential population, a central location in University City, convenient area public transportation and proximity to Center City. Among the area's weaknesses are a perception that the area is unsafe, poor merchandise selection in retail stores, numerous property owners and inconsistent store fronts and poorly maintained transportation stations.