King of Prussia District Logo
  • News
  • Blog
  • Events
  • Contact
  • Explore King of Prussia
    • Hotels, Conference & Meeting Spaces
      Hotels, Conference & Meeting Spaces
    • Fun & Fitness
      Fun & Fitness
    • Shopping
      Shopping
    • Dining & Nightlife
      people eating dinner and cheers with beer glasses
      Dining & Nightlife
    • Parks & Trails
      Parks & Trails
    • Healthcare & Life Sciences
      Healthcare & Life Sciences
    • Getting Around
      bus driver sitting in bus
      Getting Around
    • Small Business Directory
      open sign hanging in a window
      Small Business Directory
  • Development
    • Future Plans
      artistic rendering of exteriors of multiple buildings
      Future Plans
    • Recently Completed
      exterior of topgolf building
      Recently Completed
    • Development Map
      image of a map on a laptop screen
      Development Map
  • Do Business
    • HQ KOP
      HQ KOP
    • Business Parks
      Business Parks
    • Available Commercial Space
      office building rendering
      Available Commercial Space
    • Job Opportunities
      people working in an office
      Job Opportunities
    • Research & Data Analytics
      Research & Data Analytics
  • Live
    • Housing
      apartment living room
      Housing
    • Education
      Education
    • Community Resources
      family with shopping carts full of food
      Community Resources
  • Recently Completed
  • Future Plans
  • What We Do
    • About Us
      aerial view of King of Prussia
      About Us
    • District Opportunities & Updates
      District Opportunities & Updates
    • Resources & Publications
      mock up of Annual Report to the Community
      Resources & Publications
    • Stakeholder Meetings
      desk with electronic devices and office supplies on it
      Stakeholder Meetings
  • Sponsorships
  • linkedin-in-brands
  • instagram-brands
Contact
Sponsorships
April 4, 2023

King of Prussia District Annual Report Findings Illustrate KOP’s Strong Performance in 2022 & Point to a Bright Future

  • Facebook Icon
  • Twitter Icon
  • LinkedIn Icon

King of Prussia, PA (April 3, 2023) –On March 30, King of Prussia District unveiled findings from its 2023 Report to the Community that illustrate the community’s strong post-pandemic recovery and bright future, despite the news about SEPTA’s King of Prussia Rail project. The District released the report during a presentation to a packed ballroom at the Sheraton Valley Forge during its Annual Report to the Community Lunch.

“While I am disappointed that this is the end for KOP Rail, I do not regret the work that King of Prussia District put into this project,” Eric Goldstein, President & CEO of King of Prussia District, told the crowd. “While King of Prussia Rail would have enhanced our position, it does not define our future. Over $4B worth of economic development in the past 12 years is only the beginning.”

The detailed report points to a strong post-pandemic recovery for King of Prussia, fueled by numerous large-scale development project approvals and constructions starts, and a notable number of CRE transactions and leases confirmed.

View/Download repot here.

Key findings from the 2023 Report to the Community include:

  • Employment trips to KOP increased to 67% of pre-pandemic levels, buoyed by an ever-increasing mix of business types that require work-from-work, while total trips (resident/employee/visitor) returned to 90% of pre-pandemic levels.
  • Investors and business confidence in KOP remains high, with 6 projects completed in 2022, and 21 in the pipeline.
  • King of Prussia’s commercial office market has rebounded strongly, with Class A vacancy below pre-pandemic levels (10.9% in 2023 vs 14.5% in Q1 2020) with Class A average rates higher than pre-pandemic levels ($33.20 price/SF in 2023 vs. $26.13 price/SF in Q1 2020).
  • Retail still reigns supreme in KOP, with King of Prussia Mall reaching 92.3% of pre-pandemic trips, and King of Prussia Town Center reaching 90.3%. In 2022, 53 restaurants and retailers opened in KOP, while at least 15 are planned for 2023.
  • With the second largest concentration of healthcare and life sciences outside of University City, King of Prussia continues to see growth in these sectors. Numerous prestigious companies in these industries are setting up shop and investing in their futures in KOP.
  • King of Prussia continues to build an impressive portfolio of fun, with attractions moving in, like The Friends Experience, Cork & Candles and Thrillz High Flying Adventure Park, and Topgolf opening summer 2023. Valley Forge Casino Resort also had a banner year, ranking #3 in PA revenue, up 27.5% over the past year.
  • Upper Merion Area School District opened the doors to a new 300,000 SF, $150M high school in 2022. The state-of-the-art building is one of three new schools opened since 2018.

King of Prussia District also recapped progress across each of its five programs. Highlights include:

Transportation:

  • Building on Phase One of the First Avenue Linear Park, which connects 10 properties in Moore Park, the Linear Park continues to progress, with Phase Two nearly complete and Phase Three in design and engineering. The District hosted 10 events and activations along the Linear Park in 2022.
  • The District advanced a number of multimodal trail plans and studies that will increase connectivity in KOP, including: the connection of Moore Road with the First Avenue Linear Park the Schuylkill River West Trail; the connection of Valley Forge National Historical Park with The Village of Valley Forge via N. Gulph Road; and connectivity within for Renaissance Park.
  • The District’s multimodal work complements recent improvements to other trails by the Township and County including completion of the Chester Valley Trail Extension, Crow Creek Trail and Schuylkill River West Trail.

Physical Improvements:

  • King of Prussia District continued to make its mark on Renaissance Park with new gateway signs at the entrances to the business park. In partnership with the Renaissance Park property owners, the District also constructed a new pedestrian walkway that provides better access to SEPTA’s Hughes Park Station.
  • The District enhanced the First Avenue Linear Park with a temporary beehive and a permanent outdoor ping-pong table, which were activated with special events in 2022.

Marketing & Communications:

  • In early 2022, the District launched a new and improved VisitKOP.com, with new features such as an interactive development map, small business directory and information about KOP’s booming healthcare and life science scene.
  • King of Prussia District rolled out HQ KOP in 2022, a multi-channeled marketing campaign targeting C-Suite executives to explore the many reasons why KOP is an ideal location to live and work.
  • King of Prussia District’s event roster surpassed pre-pandemic levels and included several new events, including KOP Wellness Week, and Igloo Garden on the Green, a dreamy pop-up dining oasis in KOP Town Center, which raised $15,000 for Upper Merion Area Community Cupboard.

Tax Policy:

  • King of Prussia District’s 2022 Tax Policy Report showed that Upper Merion Township ranked third lowest in terms of total tax burden on business, relative to competitive regional suburban jurisdictions.

Land Use & Zoning:

  • King of Prussia District continues to work with Upper Merion Township on land use and zoning policies that support future planned growth of the community such as enhancements to the King of Prussia Mixed-Use District (KPMU).

 

ABOUT KING OF PRUSSIA DISTRICT

King of Prussia District was founded through an Upper Merion Township Ordinance in 2010 as a not-for-profit, 501(c)3, business improvement district to serve as a catalyst for economic development and job growth. Within its 1,935-acre boundary, King of Prussia District partners with 431 commercial, industrial and multi-family property owners who collectively have over $2.3B in total assessed property value.

King of Prussia District’s mission is to engage public and private partners to collaboratively improve the economic environment in King of Prussia by making it more vibrant, attractive and prosperous. This mission, and our core values – progressive, determined and fun – drive the organization’s work across five programs: Land Use & Zoning; Marketing & Communications; Physical Improvements; Tax Policy; and Transportation.

Related Posts

View All
Aug 28, 2025 News

Fully leased office campus near King of Prussia Mall sells for $68M

The Philadelphia Inquirer
Aug 26, 2025 News

Here’s when Netflix House in King of Prussia will open

Fox29
Aug 26, 2025 District News

Investing in the Future: UMASD by the Numbers

Read More
Aug 25, 2025 News

The world’s first Netflix House is opening in King of Prussia this fall

The Philadelphia Inquirer
Aug 25, 2025 News

Netflix House to open at King of Prussia Mall on Nov. 12

Philly Voice
Aug 25, 2025 News

Netflix House Sets Opening Dates For Philadelphia & Dallas Entertainment Venues

Deadline
Aug 25, 2025 News

Netflix House Opening Dates Revealed for Philadelphia and Dallas Locations

The Hollywood Reporter
Aug 25, 2025 News

The world’s first Netflix House is opening in King of Prussia this fall

The Philadelphia Inquirer
Aug 25, 2025 News

First Netflix House opens its doors on November 12th

The Verge
Aug 25, 2025 News

Netflix Sets Opening Dates for Permanent Entertainment and Shopping Venues in Philadelphia, Dallas

Variety

Keep Up With KOP

Be the first to hear about new events and experiences.
Subscribe Now
  • Explore
  • Do Business
  • Live
  • Get Around
  • Development
  • What We Do
  • 2025 Sponsors
  • linkedin-in-brands
  • instagram-brands
©2025 King of Prussia District All Rights Reserved
Privacy Policy
Open toolbar Accessibility Tools

Accessibility Tools

  • Increase TextIncrease Text
  • Decrease TextDecrease Text
  • GrayscaleGrayscale
  • High ContrastHigh Contrast
  • Negative ContrastNegative Contrast
  • Light BackgroundLight Background
  • Links UnderlineLinks Underline
  • Readable FontReadable Font
  • Reset Reset
  • SitemapSitemap