Eric Goldstein
President & CEO
Cheryl Gebeline-Myers
Chair, Board of Directors
We are pleased to share our 2024 Annual Report to the Community with you.
This is our first all-digital version, and we are thrilled to present the King of Prussia story using this
lively, interactive and environmentally-responsible alternative.
Upper Merion Township/King of Prussia (UMT/KOP) emerged from the challenges of the pandemic to reach impressive
milestones across numerous industries and market sectors in 2023. Of particular note, we closed 2023 with the
lowest aggregate commercial office vacancy (9%) since we started tracking this in 2011. Retail sales are at, or
exceed, pre-pandemic numbers. Employees are returning to work (85%) and overall visitor trips (93%) are nearing
pre-pandemic levels. Hotel performance rebounded significantly with incredibly impressive weekend performance.
Casino revenues set all-time records. New restaurants, retailers and entertainment venues opened their doors,
and multiple housing developments progressed towards completion.
Organizationally, 2023 was a busy year for our team! We completed the First Avenue Linear Park Phase Two,
installed new gateway signs in Renaissance Park and completed the Moore Road Multimodal Trail and Linear Park
Study. Our team produced 36 events throughout KOP, including a new experiential networking series. Our
fundraiser events for CHOP and the Upper Merion Area Community Cupboard brought in record-breaking donations. In
addition, we continued to aggressively target C-Suite and site selection professionals through our HQ KOP
campaign, designed to attract new business to UMT/KOP.
This year we also rolled out our 2024-2029 Strategic Plan to articulate how we plan to execute our mission and
realize our vision for King of Prussia. Our work is designed to accelerate economic growth by making King of
Prussia vibrant, attractive and prosperous and we greatly appreciate your continued support!
Community
Upper Merion Township At a Glance
Upper Merion Township/King of Prussia is the economic engine of Montgomery County, PA and represents the largest commercial center in the Philadelphia suburbs and the third largest employment center in the region.
28M SF
Total Commercial SF (Including Office, Retail, Hotel and Industrial)
$2.5B
Assessed Value of Commercial Real Estate
4M SF
Projects in Development 2020-2023
5027
Companies
761
Commercial, Industrial and Multifamily Properties
62883
Employees
34731
Residents
15991+
Residential Units
2676
Hotel Rooms
182548+ SF
Meeting Space
35
Parks & Open Spaces
Real Estate Tax Revenue (2024)
$11,942,128
to Montgomery County
$9,078,814
to Upper Merion Township
$54,871,905
to Upper Merion Area School District
$972,727
to Montgomery County Community College
King Of Prussia District
King of Prussia District Fuels Economic Growth
King of Prussia District accelerates economic growth by making King of Prussia more vibrant, attractive and prosperous. Established in 2010 by Upper Merion Township Ordinance, King of Prussia District is funded by 431 commercial, industrial and multifamily property owners within its 1,965 acre boundary. The organization's programs and services help drive resident, corporate and investor confidence and are designed to boost property values. Significant revenue increases for the Township, Upper Merion Area School District, Montgomery County and Montgomery County Community College come from the organization's success.
King of Prussia District Boundaries
1,965
Acres
431
Properties
$2.3B
Total Assessed Property Value
King of Prussia District Programs
Physical Improvements
From signage to landscaped medians along some of King of Prussia's most visible and highly-traveled corridors,
King of Prussia District manages design, construction and maintenance of landscapes that enhance KOP's
aesthetic.
Learn More
Land Use & Zoning
King of Prussia District works closely with the Township and County to develop strategies for a comprehensive
and cohesive forward-thinking vision for KOP's future.
Learn More
Research & Data Analytics
King of Prussia District conducts data-driven research to analyze performance of the King of Prussia market,
inform thoughtful change and keep KOP's transformation top of mind for stakeholders, elected officials,
developers, investors and the general public.
Learn More
Transportation
King of Prussia District is dedicated to making life flow in KOP, effecting game-changing transportation
solutions that enhance vehicular, pedestrian, bicycle and public transportation access.
Learn More
Marketing & Communications
Committed to keeping KOP in the spotlight and building on its reputation as one of America's great edge
cities,
King of Prussia District executes robust marketing and advertising campaigns and produces award-winning events
throughout the year.
Learn More
Funding
100% of King of Prussia District's operating budget is paid for by private fees, event revenue and corporate
sponsorships. King of Prussia District programs are funded through a special assessment fee made possible by
commercial, industrial and multifamily properties within its boundary. The assessment fee is 0.00089 MILS, or
approximately 3.1% of the total real estate tax bill for property owners. The millage rate has remained the
same
since the District was founded in 2010.
The Future
Investment and Development
Since 2010, more than $5B was invested in economic development projects in King of Prussia. The incredible diversity of projects include office, medical, manufacturing, logistics, life sciences, pharma, retail, hospitality, dining, entertainment and residential. The pipeline remains remarkably strong in 2024.
Notable 2023 Deliveries
588 N. Gulph Rd.
Topgolf
The three-story complex is located on more than 48 acres and features 34 hitting bays on each level that
can accommodate more than 500 golfers, along with a restaurant and bar. Topgolf is known for its
ball-tracking technology that enables amateurs and experts to test their driving skills year-round under
climate-controlled conditions.
700 Geerdes Blvd.
PennDOT District 6 Regional Traffic Management Center
The Pennsylvania Department of Transportation (PennDOT) completed construction in March 2023 on a new
District 6 Regional Traffic Management Center (RTMC) and parking structure. The new RTMC expands
existing capabilities by providing a larger, modern facility to manage PennDOT's expanding Intelligent
Transportation Systems. The 43,000 SF, $49.2M design/build facility connects to PennDOT's existing
office on the same property.
Under Construction & In the Pipeline
127 S. Gulph Rd.
Residence Inn by Marriott & Hotel Prussia, BW Signature Collection
Construction is underway on a five-story Residence Inn by Marriott to replace the older section of the
original Best Western hotel. The newer section of the Best Western (circa 2010) will become Hotel Prussia.
The development will feature ground floor retail with a restaurant. The project is expected to deliver in
2024.
The Village at Valley Forge
Overlook at Town Center
Toll Brothers is constructing their third project at The Village at Valley Forge, a 142-unit townhome
development in 13 buildings located on seven acres. The for-sale townhomes are priced from the low
$600,000s and feature modern open floor plans with optional basements and rooftop terraces.
230 Mall Blvd.
Lockheed Martin
Maryland-based Lockheed Martin is adding a new 55,000 SF research and testing building alongside its
existing 784,000 SF building on its 90-acre King of Prussia campus. Plans also call for extensive
landscaping along Goddard Blvd., including heavily-landscaped stormwater basins.
Advanced Therapies Park: Innovation 511 & Innovation 611
Discovery Labs is now marketing property for over 2.7 M SF of R&D labs and cGMP manufacturing space
across 15 build-to-suit buildings, which can be combined for a larger footprint.
Built For Business
CRE Overview and Performance
King of Prussia is the largest commercial center in the Philadelphia suburbs and represents the third largest employment center in the region behind downtown Philadelphia and University City. King of Prussia thrives on an incredibly diverse cross-section of industries that enabled the community to weather the pandemic and return to pre-pandemic form. King of Prussia enjoys an incredibly low office vacancy rate and continued investment in industrial, multifamily, retail and hospitality properties throughout the Township.
CRE Performance Stats
Commercial Property Stats
28M SF
Total Commercial SF (Including Office, Retail, Hotel and Industrial)
761
Total Commercial Properties
5.4%
Aggregate Commercial Property Vacancy
Commercial Property SF
5877864
Retail
8256808
Office
6505740
Industrial
3724091
Flex
819153
Healthcare
896595
Specialty/other
1682511
Hospitality
Class A Office
49
Properties
4.5M
SF
7.4%
Vacancy
Class B Office
56
Properties
2.1M
SF
11.2%
Vacancy
Class C Office
13
Properties
283K
SF
9.1%
Vacancy
Office data reflects only non-owner occupied available property over 10K SF.
Leasable Office Inventory
8.6% Q4 2023 Vacancy
119 properties
7M Total SF
119 properties
7M Total SF
Excludes owner-occupied and properties under 10k SF.
All Office Inventory
7.2% Q4 2023 Vacancy
209 Properties
8.3M Total SF
209 Properties
8.3M Total SF
Includes owner-occupied with all office sizes
Industrial
148
Properties
6.5M
SF
2.9%
Vacancy
Flex
71
Properties
3.7M
SF
1.9%
Vacancy
Retail
198
Properties
5.9M
SF
2.8%
Vacancy
576,997
Total SF of the 20 Largest Lease Transactions (2023)
$87,842,000
Total Real Estate Sale Transactions (2023)
Realty Transfer Fees
Raising property values is one of King of Prussia District's guiding principles. Increased property values is
a terrific metric to gauge the desirability of King of Prussia in the investment community. Rising property
values also benefits the Township, County, School District and Montgomery County Community College through
increased taxes on higher property assessments and earned income through the Realty Transfer Fee when a
property is sold.
Real estate transactions in Montgomery County trigger a 2% Realty Transfer Fee that is shared between the County (1%), Township (.5%) and the School District (.5%) on an annual basis.
Real estate transactions in Montgomery County trigger a 2% Realty Transfer Fee that is shared between the County (1%), Township (.5%) and the School District (.5%) on an annual basis.
49%
Increase in Business Applications from 2012 to 2023
Business Parks in King of Prussia
Moore Park
Formerly known as the King of Prussia Business Park, Moore Park is a progressive, thriving community where
commercial, residential, retail, dining and industrial spaces work together to grow business, enhance
lifestyle and seize opportunity. Located in the heart of KOP at the confluence of Routes 276, 76, 23 and
422, Moore Park is home to a number of notable companies including GeoBlue, Radial, Arkema, CSL Behring, PSI
Pharma and more, in addition to Valley Forge Casino Resort, Topgolf, Bury the Hatchet and two escape rooms.
Moore Park is an economic powerhouse in the suburban Philadelphia region.
Learn More
20,000+
Employees
101,414 SF
Corporate Meeting and Event Space
5
Hotels
2283
Multifamily Housing Units
3.5M+ SF
Commercial Office
and Industrial Space
Renaissance Park
Renaissance Park is a 333 acre business park located on the east side of Upper Merion Township. Constructed
in
the 1980s and 90s, Renaissance is now home to prominent tenants including Jefferson Health, Children's
Hospital
of Philadelphia, Tosoh Biosciences, World Courier, Proteovant, Vertex, Purolite and Recovery Centers of
America.
Innovation 411 and GSK are immediately adjacent to Renaissance Park.
Learn More
7,800
Employees
2M SF
Lab, Manufacturing, Office and Industrial Space
Stay & Play
Hospitality and Attractions
With world-class shopping and dining, a wide variety of attractions and entertainment options, miles and miles of trails and 16 hotels, King of Prussia is a prime destination for business and leisure travel.
16
Hotels
2,676
Hotel Rooms
182K+ SF
Total Hotel Meeting Space
204
Rooms Delivering Summer 2024
107
Rooms Delivering 2025
2023 Hotel Stats
681723
Hotel Room Nights Booked
68.5%
Occupancy Rate on Saturdays
65.5%
Average Weekend Occupancy
51.3%
Average Weekday Occupancy
34.2%
KOP Hotels Accounted for 34.2% of Hotel Room Demand and 34.2% of Hotel Room Revenue in Montgomery County
Data from Valley Forge Casino Resort & Conference Center is not included
Destination Entertainment
Whether you're planning date night, a corporate team-building experience or a group hang, KOP's got you covered!
Valley Forge Casino Resort
The region's only full-amenity gaming resort, Boyd Gaming's Valley Forge Casino Resort (VFCR) is a top
performer
in the state. The Resort boasts a 40,000 SF gaming floor with 850 slot machines and 50 table games. VFCR's
FanDuel Sportsbook offers 1,800 SF of sports betting with seven betting windows, 27 television screens and
two
sports tickers. At night, the Resort comes alive, with a variety of nightlife options, from tribute acts to
comedy shows. With nearly 450 hotel rooms, a seasonal outdoor pool that often features live music, and five
dining options, you can stay and play all weekend
Learn More
Ranked #2 of 17 PA Casinos in Revenue for 2023
$763.7M Revenue in 2023, up from $278M in 2020
$763.7M Revenue in 2023, up from $278M in 2020
Valley Forge National Historical Park
A natural oasis that is beautiful in any season, Valley Forge National Historical Park attracts everyone
from
hikers and bikers, to history buffs, to photographers and birders. Explore the site of the 1777-78 winter
encampment of the Continental Army on your own using the 10-mile driving loop that stops at nine pivotal
points,
or download the NPS app to learn about monuments, statues and historic buildings. Don't forget to stop by
the
Park's newly renovated Visitor Center for interactive exhibits and the Encampment Store.
Learn More
3,500 Acres of Monuments, Meadows and Woodlands
35 Miles of Trails
1.9M Visitors Annually
35 Miles of Trails
1.9M Visitors Annually
Under Construction
Maurice Stephens House
Valley Forge Park Alliance (VFPA) is working with the National Park Service on a $1.3M project to reposition
the
long-vacant Maurice Stephens House, set in the Grand Parade. Once complete in 2024, the House will serve as
VFPA's headquarters and offer meeting space for intimate gatherings and programming. Visitors will also be
able
to pop in to enjoy a coffee or pastry from the Cafe, operated by Aneu Kitchen.
Learn More
Now Open
Topgolf
As of June 2023, visitors, employees and residents can tee off at one of the most anticipated attractions to
open in KOP. Located on 48 acres across the street from Valley Forge Casino Resort, Topgolf boasts 102
outdoor
climate-controlled hitting bays spanning three levels and is equipped with their Toptracer technology, which
tracks each golf ball's flight path and distance. Topgolf also offers a full-service restaurant, a 28-foot
video
wall and more than 200 HDTVs. Perfect for your next event or team outing, Topgolf has a variety of private
rooms
as well as an outdoor area with backyard games.
Learn More
500+ Golfers Can Tee Off at Any Given Time
400+ Employees Hired
89th Location Opened Globally for Topgolf
400+ Employees Hired
89th Location Opened Globally for Topgolf
Eat. Shop. Repeat!
Retail and Dining
From the 400+ retailers at Simon's King of Prussia Mall, to the always-busy King of Prussia Town Center, and the dozens of businesses within KOP's other retail plazas, King of Prussia is truly a shopper's delight. No matter what your taste or budget, you'll find it here.
198
Properties
5,877,864 SF
Total Retail Space
2.8%
Vacancy
World Class Shopping
89%
Pre-Pandemic Trip Levels
1.3M
Visits to Nordstrom in 2023, Making it the #1 Mall Destination
89%
Pre-Pandemic Trip Levels
1.9M
Visits to Wegmans in 2023, Making it the #1 Town Center Destination
New in 2023
& Early 2024
& Early 2024
Note: Does not include traditional supermarkets.
Note: Does not include restaurants within KOP Mall or Valley Forge Casino Resort.
Forward Thinkers
Healthcare and Life Sciences
With multiple world-renowned medical facilities, plus a growing number of leaders in cell and gene therapeutics, KOP is at the center of the most advanced healthcare in the region.
Life Sciences in the Philadelphia Region (SF)
Philadelphia Suburbs
- King of Prussia/Valley Forge2.7M
- Malvern1.1M
- Horsham/Spring House1M
- Exton/West Chester650K
- Lower Bucks545K
City of Philadelphia
- University City2.4M
- Navy Yard952K
- Greater Northeast772K
- Center City509K
Working Together
Employment and Workforce
With easy access to all of the area's major thoroughfares, an abundance of new housing options and elevated shopping, dining and entertainment offerings, it's no surprise that King of Prussia is the third largest employment center in the Philadelphia region. In a time when the demand for human resources has never been higher, KOP businesses are well positioned to attract and retain top talent.
Upper Merion Township/KOP Workforce Profile
53037
Employment in 2010
62883
Employment in 2021
19%
Increase Since 2010
Top 5 Industries in Upper Merion Township
- Professional, Scientific and Technical Services18.6%
- Administration and Support11.2%
- Retail Trade11.1%
- Finance and Insurance8.2%
- Manufacturing6.2%
Age
22.6%
29 or Younger
54.2%
30-54
23.2%
55+
Gender
54%
Male
46%
Female
Race
76.7%
White
14.3%
Black/African American
7.2%
Asian
Educational Attainment
30.9%
Bachelor Degree or Higher
21%
Some College or Associate Degree
17.7%
High School or Equivalent
60108
Workers Commute Into Upper Merion
14727
Residents Commute to Jobs Outside Upper Merion
2775
Residents Live and Work in Upper Merion
Top 5 Hometowns of Employees Working in Upper Merion
2023
- Philadelphia17%
- Norristown10%
- KOP9%
- Wayne3%
- Pottstown3%
2017
- Philadelphia18%
- KOP8%
- Norristown8%
- Phoenixville3%
- Wayne3%
Active & Engaged
Our Community
With high-quality schools, low real estate taxes and incredible shopping, dining and healthcare options, KOP is one of Pennsylvania's best places to live.
A+
Overall Niche.com Grade
#4
Best Suburbs for Young Professionals in Pennsylvania
#23
Best Suburbs to Live in Pennsylvania
#29
Best Place to Live in Pennsylvania
$112638
Median Household Income
$400100
Median Home Value
$1865
Median Rent
Resident Ages
6.8%
Under 5
17.8%
Under 18
17.3%
65 and Older
Resident Profile by Race
69%
White
20%
Asian
7.8%
Black or African American
3%
Other
34731
Resident Population
Total Housing Units
12800
2010
15991
2020
57.3%
Owner-Occupied
40.7%
Renter-Occupied
Education
Top-Rated Education Hub
Upper Merion Area School District's (UMASD) highly-rated academic and extracurricular public school programs
are
an asset for KOP's resident and business communities alike. The District, which also serves the boroughs of
Bridgeport and West Conshohocken, is home to seven schools: five elementary schools serving grades K-4; a
middle
school serving grades 5-7; and a high school serving grades 9-12.
Learn More
A
Rated School District
#42
Top 50 Best School Districts in Pennsylvania
4502
Total Enrollment
92%
Graduation Rate
UMASD Student Scholarships
King of Prussia District is proud to invest in the leaders of tomorrow by supporting the Upper Merion Area
School District student scholarship and teacher grant funds each year!
$5,000 donated in 2023
$30,500 donated since 2018
$30,500 donated since 2018
25
Area Colleges & Universities
KOP businesses have incredible access to tomorrow's top talent, thanks to the plethora of higher education
offerings right in UMT's backyard.
Explore the Great Outdoors
Discover Your Adventure
Lace up those sneakers and dust that bike off. Whether you're looking to get some fresh air and enjoy a
picnic,
or train for an ultramarathon, there are miles of options in Upper Merion Township. In fact, King of Prussia
has
incredible access to The Circuit Trails, a continuously-growing networking of more than 300 miles of trails.
The
Schuylkill River Trail, Chester Valley Trail and the Valley Forge Loop, all found in Upper Merion Township,
are
part of the Circuit.
Learn More
Notable Future Connections
Moving forward, improving transportation options is a major focus of the Commonwealth, County, Township and of
our organization. One strategy to increase multimodal access for residents and commuters is trail development. A
number of important connections have been made with more being explored, as seen on this map created for the
Moore Road Multimodal Trail and Linear Park Study. Within the past ten years, significant sections in and around
Upper Merion have been installed, including the Schuylkill River Trail West, Crow Creek Trail, Chester Valley
Trail Extension and First Avenue Linear Park.
Access to KOP
Gateway to Commerce
King of Prussia lies at the confluence of some of Southeastern Pennsylvania's most traveled highways. Access
and
convenience are a primary reason King of Prussia is the largest center of commerce in the Philadelphia
suburbs.
Free Parking Throughout KOP
94: Total Number of Public Electric Vehicle Charging Ports
94: Total Number of Public Electric Vehicle Charging Ports
18
Miles to AMTRAK's 30th Street Station
19
Miles to Center City Philadelphia
26
Miles to Philadelphia International Airport
Public Transportation
King of Prussia has three Norristown High Speed Line stations, numerous bus lines and sits only five miles
from
SEPTA's Wayne and Norristown Regional Rail stations. The Transportation Center at King of Prussia Mall is
one
of
the busiest bus terminals in the Philadelphia suburbs with more than 1M rides per year.
Learn More
What We Do
Our Impact: Marketing & Communications
From executing highly-visible advertising and social media campaigns, to sharing the stories of KOP's transformation, to fostering a spirit of community and fun through our events, the District is laser-focused on keeping KOP active and in the spotlight.
VisitKOP.com
120442
Site Visits
Up 64% from 2022
Top 5 Pages of VisitKOP.com in 2023
1
Igloo Garden on the Green
2
HQ KOP
3
Homepage
4
Takeout Specials for Igloo Garden on the Green
5
Events
King of Prussia District Social Media Followers
Facebook
1489
Up 3.8% from 2022
X
6862
Instagram
4141
Up 23% from 2022
Linkedin
1585
Up 12% from 2022
KOP Restaurant Week
Facebook
1822
Up 22% from 2022
website
87021
Visitors
Up 109% from 2022
Up 109% from 2022
KOP Wellness Week
website
10851
Visitors
Up 405% from 2022
Up 405% from 2022
Now Open Series
In 2023, King of Prussia District launched a new blog series, Now Open, to introduce new restaurants,
retailers
and experiences as they open their doors. With 38+ businesses opening in 2023, there was plenty of content to
share on VisitKOP.com and the District's social channels.
Learn More
In 2023, we revamped our Blog by adding new tagging features and introducing new lifestyle articles. Our
Events page also got an upgrade, allowing us to highlight recurring events throughout KOP.
10
Executives Profiled via the KOP Insiders Series
78
Blog Posts - 50% More Posts Than 2023
Advertising
HQ KOP
Launched in 2022, King of Prussia District's HQ KOP advertising campaign continued in 2023 with placements
throughout the region targeting the C-Suite. The campaign highlights KOP's many assets and positions it as the
ultimate location for meeting, working, recruiting and living.
Learn More
8
SEPTA Bus Full Back Ads
(2 Flights)
(2 Flights)
20
SEPTA Bus King Ads With Headliners (2 Flights)
16
Screens at SEPTA's Suburban Station
13,814,686 Impressions
74132053
Impressions of Digital & Static Billboards in Philadelphia & Surrounding Suburbs
354063
Impressions of Google Ads
682655
Impressions of LinkedIn Ads
Events
Connected to the Community
King of Prussia District kept the calendar stacked in 2023, hosting a wide variety of events, from small
workshops with our beekeeper, to the region's most heartwarming dining and shopping event.
Learn More
36
Events Hosted Throughout King of Prussia in 2023
6
Food Truck Tuesdays
6
Beehive Workshops & Activations
5
Business Networking Events
4
Wellness Wednesday Workouts
4
Pop-Up Cafes
2
Property Manager Lunches
1
Community-Wide Food Drive
1
Ping-Pong Tournament
1
Week of Igloo Garden on the Green
1
King of Prussia Restaurant Week & KOP Shops
for CHOP Week
1
Block Party for CHOP
1
KOP Wellness Week
1
KOP Wellness Week Kickoff Event
1
First Responders Appreciation Week
1
Cupcake 2k
February 6-12, 2023 | Kickoff Event at KOP Mall February 5
King of Prussia Wellness Week
We kicked off 2023 Wellness Week with a new event at King of Prussia Mall featuring a vendor marketplace and
two mini-fitness classes.
30+
Participating Businesses including 9 Gyms & Fitness Centers
12
Virtual and In-Person Events
May 3, May 17, May 31 & June 14, 2023
KOP Wellness Wednesday
We welcomed spring by hosting pop up workouts in Moore Park and Renaissance Park. The free workouts explored
different fitness modalities each week - from yoga to high-intensity interval training.
80
Participants
4
Participating Gyms & Fitness Centers
Business Networking Events
King of Prussia District hosted five business networking events that brought together leaders from a variety
of
industries to network, explore opportunities for collaboration and stay up-to-date on KOP's exciting future.
Learn More
In 2023, we introduced Network@Nite, a series of informal networking events based around unique KOP experiences.
February 23, 2023
Network@Nite: Morgan's & BOTLD
Our series kickoff featured a unique collaboration between Morgan's Brooklyn Barbeque and BOTLD. Guests
enjoyed 3 course of barbeque inspired dishes paired with craft cocktails
May 4, 2023
Network@Nite: Tacos of KOP
Valley Forge Casino Resort's Valley Beach was the perfect outdoor setting for an epic tasting of the best
tacos from 10 different KOP restaurants.
September 7, 2023
Network@Nite: Walk & Wine Down
For our final event in the series, we hosted a guided walk of the Grand Parade in Valley Forge National
Historical Park, led by Valley Forge Park Alliance, followed by a wine tasting with Seasons 52.
March 30, 2023
All Access KOP: 2023 Report to the Community Luncheon & Awards
King of Prussia District celebrated the release of the Annual Report to the Community with a luncheon and
awards ceremony honoring 12 people and companies that moved KOP forward in 2022. The event also featured a
panel discussion featuring executives from GeoBlue, The Judge Group and Eigen X centered on employee
recruitment and retention post-pandemic and why KOP is well situated to address the employee preferences of
today. The spirited discussion was moderated by Lauren Gilchrist,Executive Vice President and Market Leader
of the Greater Philadelphia Region for Newmark.
December 14, 2023
Tee Up for the Holidays
We capped off the year with a holiday reception and unlimited game play at KOP's newest hot spot: Topgolf.
Learn More
March 13-24, 2023
King of Prussia Restaurant Week & KOP Shops for CHOP
Our 9th annual dining and shopping event benefiting Children's Hospital of Philadelphia (CHOP) was our most
successful yet, raising a truly record-breaking donation. This community-wide event includes a wide range of
restaurants and retailers, in addition to other businesses through the Community Champions program, and the
Upper Merion School Area District through their pajama days.
Read the Recap
Featured on FOX 29 Good Day, Philadelphia Voice, NBC10 Philly Live, MainLineTonight.com, Philadelphia Business
Journal & Others
77
Participating Businesses
9th
Annual Event
4.6M
Impressions Earned via Ad Campaign
$76187
Donated in 2023 - Up 10% from 2022
$366311
Raised Since 2014!
May 7, 2023
Block Party for CHOP
New in 2023, we closed out the campaign with an epic family friendly Block Party for CHOP that drew 2,100+
people to KOP Town Center for games, entertainment and raffles.
May 1-18, 2023
Cupcake 2K
To encourage use of the First Avenue Linear Park, we invited workers, residents and visitors to traverse a
short and sweet 2K course (1.24 miles) sprinkled with cupcake decals along the way throughout the 18 day
period. Those who completed the course and shared photos of all three decals received a free cupcake and
coffee on May 18 at our activation at 630 Freedom Business Center.
May 16, 2023
Ping-Pong Tournament
Our 2nd annual Ping-Pong Tournament brought 16 competitors to the District's permanent ping-pong table at
933/935 First Avenue to compete for prizes and bragging rights. Spectators were treated to pizza and beer
from KOP's Conshohocken Brewing Company.
Learn More
May 9 & 23, June 6 & 20,
September 12, October 3, 2023
September 12, October 3, 2023
Food Truck Tuesday
Our popular food truck series continued with six events in different corporate parking lots featuring
incredible eats from area food trucks, live music with local artists, giveaways with sponsors, a gaming zone
and seating.
Learn More
Sept. 21, Oct. 12,
Dec. 5, Dec. 12, 2023
Dec. 5, Dec. 12, 2023
Pop-Up Cafes
We hosted four Pop-Up Cafes this year, two in Renaissance Park and two in Moore Park. Each featured free cups
of gourmet made to order coffee from our favorite coffee trucks.
Learn More
October 23-27, 2023
First Responders Appreciation Week
King of Prussia District and Upper Merion Township (UMT) once again partnered together to recognize and
celebrate
UMT's first responders with complimentary meals from some of KOP's finest restaurants. This event began in the
pandemic and continues each year due to its popularity among businesses who are eager to thank those who keep
our
community safe.
10 Meals Served to 250+ First Responders
9 KOP Restaurants Participated
$1,983.04 Donated to UMT Department of Public Safety
Learn More
9 KOP Restaurants Participated
$1,983.04 Donated to UMT Department of Public Safety
November 1-30, 2023
KOP Takes Out Hunger Food Drive
We once again partnered with Conlin's Print to produce our month-long food drive for Upper Merion Area
Community
Cupboard (UMACC). Our 12th annual food drive featured 34 donation boxes throughout KOP that collected over
3,135
lbs of food.
Learn More
November 7-14, 2023
Igloo Garden on the Green
In 2023, King of Prussia District also hosted Igloo Garden on the Green, a dreamy takeout experience in KOP
Town
Center to raise money for UMACC. For one week only, six beautifully furnished igloos were available for
reservation
via OpenTable for a fee, which was donated to UMACC. The igloos were incredibly popular and were host to a
number of
birthday parties, romantic dates and even an engagement (she said yes!).
Learn More
3,135+
Pounds of Food Donated
$24,340
Raised for UMACC
12th
Annual Food Drive
34
Donation Boxes
Throughout KOP
Throughout KOP
1009
Guests Dined at Igloo Garden on the Green
None of These Events Would be Possible Without Our Sponsors
$123800
in Corporate Event Sponsorship Raised
$102510
Raised and Donated to Community Causes
Our Generous 2023 Sponsors
Learn More
Our Impact: Physical Improvements
Making KOP Vibrant
King of Prussia District is committed to improving the appearance of some of our most heavily traveled
commercial
corridors through the design, construction and maintenance of physical improvements. From lush landscaped
medians
that reduce stormwater runoff to unique amenities like beehives and ping-pong tables, we strive to make KOP
vibrant.
$7.2M
Total Invested by King of Prussia District Through Operating and Grant Revenues
7
Acres of Landscapes Maintained by King of Prussia District
25,128
Perennials Planted
2,454
Shrubs Planted
170
Trees Planted
6,818
Ornamental Grasses Planted
15,100
Bulbs Planted
Renaissance Park Exterior Sign and Wayfinding Study
King of Prussia District engaged D2 Branding to develop an exterior wayfinding and signage master plan for
Renaissance Park culminating in new sign design guidelines and a comprehensive wayfinding system in 2022. With
input
from stakeholders, three gateway signs were installed in early 2023 at Renaissance Park entrances and 21
directional
signs were installed throughout the mixed-use district at the beginning of this year. Another round of
driveway
signs will be installed in the commercial district by year's end.
Learn More
King of Prussia Beehives
King of Prussia District partnered for a second year with Alveole, a commercial beekeeping group, to install
honeybee hives in Moore Park and Renaissance Park. From May through December, the beehives and beekeepers were
very
active, reaching up to 50,000 inhabitants in each hive at the height of the season, all working to maintain
the
colony and harvest the extra honey. King of Prussia District sponsored four free workshops and over a dozen
hive-side sessions for the public to get hands-on experience in 2023. Just next to the hives King of Prussia
District produced even more experiences, including DIY flower carts and pop-up cafes, creating a fun
opportunity
for
neighboring office workers and residents to take a break and enjoy the fruits of the bee's labor. King of
Prussia
District looks forward to the coming 2024 season with hives and fun workshops in Moore Park and Renaissance
Park.
Learn More
Our Impact: Transportation
Getting Around
King of Prussia District plans and implements strategies that enhance vehicular, pedestrian, bicycle and
public
transportation. With initiatives that allow for better highway access, promote efficient public transportation
and
create pedestrian and bicycle pathways, King of Prussia District is dedicated to making life flow a little
easier in
KOP.
$4972639
First Avenue Linear Park Grants
$455856
First Avenue Road Diet Grants
First Avenue Linear Park
King of Prussia District, in partnership with Upper Merion Township, completed the final segment of the First
Avenue
Linear Park, creating a contiguous path between Allendale Rd. and N. Gulph Rd. The new multimodal trail allows
employees, residents and visitors to walk or bike this mixed-use corridor in Moore Park while enjoying trail
amenities including a concrete boardwalk along Trout Creek, public seating areas, a ping-pong table, rain
gardens,
pedestrian lighting, trash receptacles and new bus shelters. The generous contribution of a public bikeway
easement
by participating commercial property owners allows the multimodal path to span 15 properties.
Additional solar powered pedestrian lights will be installed along the latest trail sections in the summer of
2024,
along with new amenities for the public to enjoy. This new public amenity is managed by King of Prussia
District and
constructed with funding provided by the Commonwealth of Pennsylvania's Department of Transportation,
Redevelopment
Assistance Capital Program, Department of Community and Economic Development, Montgomery County and King of
Prussia
District.
6,000
Perennials and Ornamental Grasses
163
Shrubs
41
Trees
1.8
Miles of Trail
(no connected pathways)
(no connected pathways)
36
Adirondack
Chairs
Chairs
1
Ping-Pong Table
16
Solar-Powered Bollards
131
Solar-Powered Light Poles
6
Benches
13
Trash Receptacles
9
Solar Powered Bus Shelters
Moore Road Trail Study
With Phase One and Phase Two of the First Avenue Linear Park complete, King of Prussia District turned its
attention
to Moore Rd. with an eye towards extending the Linear Park down both sides of the road. The Moore Road study
also
addresses opportunities to connect the project to the recently completed Schuylkill River West Trail.
Completing
this segment will provide a direct connection into Valley Forge National Historical Park. The final report was
released by King of Prussia District in early 2023 and we are applying for design/construction funding and
establishing access easements with property owners along the trail.
Learn More
Renaissance Park Connectivity Study
King of Prussia District is excited to present the Renaissance Park Connectivity Study. This connectivity
master
plan by the consultant team of Simone Collins Landscape Architecture and Traffic Planning and Design outlines
pedestrian, bicycle and roadway links between commercial properties and residential neighborhoods. New bike
lanes,
sidewalks, shared lane markings, roundabout and multimodal trails make up the bulk of proposed transportation
improvements with additional amenities including public spaces for parklets, special events and outdoor art.
With stakeholder input, the report provides a blueprint outlining bike and pedestrian connections between
Renaissance Park properties and public amenities that create a safe and exciting mixed-use district for
employees,
residents and visitors to enjoy. These features will join the diverse mix of Renaissance Park properties,
including
proposed multifamily developments and existing commercial office properties, manufacturing and warehouse
buildings,
restaurants, lab space, service retail and childcare facilities into a cohesive neighborhood. King of Prussia
District looks forward to partnering with stakeholders to move these recommendations forward.
Learn More
Valley Forge Slip Ramp
In 2015, the Montgomery County Planning Commission, in cooperation with state, local and regional agencies,
issued
the Turnpike Corridor Reinvestment Project Report. This study identified transportation opportunities along
the
Turnpike Corridor that include potential slip ramp locations and redevelopment prospects. While some projects
recognized in this study have come to fruition, two in Upper Merion Township have yet to be realized - the
Henderson
Road Interchange and Valley Forge Interchange into Moore Park, which is a major focus of the District's
Transportation program in 2024.
Learn More
Renaissance Park Pedestrian Gateway
In 2022, King of Prussia District, in partnership with Renaissance Park property owners, constructed a new
pedestrian connection between the business park and SEPTA's Hughes Park Station. The new pedestrian path
addresses
recommendations identified in the 2018 Safe Routes To Transit report by the Delaware Valley Regional Planning
Commission, including trail enhancements between Crooked Ln. and Renaissance Blvd.. Stuart & Associates, a KOP
landscape architecture, planning and design firm, designed the $100,000 project. The project includes a new
10-foot
wide paved path, seating areas, planting beds, trash receptacles and pedestrian lighting.
North Gulph Road Trail
Several state, local and regional organizations are working on plans to design and build a multimodal trail
connection on N. Gulph Rd. to connect Valley Forge National Historical Park (VFNHP) with The Village at Valley
Forge
and the Chester Valley Trail. The concept includes tying in the First Avenue Linear Park to provide seamless
connections for pedestrians and cyclists between Moore Park, the Village, Chester Valley Trail and VFNHP.
Upper
Merion Township has entered into an agreement with the National Park Service and PennDOT to design the first
trail
section between VFNHP and First Avenue with funding provided by the National Park Service.
Our Impact: Land Use & Zoning
Planning for the Future
As part of King of Prussia District's Land Use & Zoning program, we work with the Township to provide advice
on a variety of land use, planning and zoning issues that correspond to commercial, industrial and multifamily
residential sections of the Township. The District assists with zoning ordinance creation and revisions and
weighs in on key planning elements such as adoption of an updated Comprehensive Plan, implementation of an
official map to highlight desired infrastructure improvements over time, and opinions related to development
proposals.
Our Impact: Research & Data Analytics
Tracking KOP's Progress
Through our Research & Data Analytics program, King of Prussia District conducts data-driven research to
analyze
performance of the King of Prussia market, inform thoughtful change and keep KOP's transformation top of mind
for
stakeholders, elected officials, developers, investors and the general public.
View Reports
Looking Forward
2024-2029 Strategic Plan
In January 2024, King of Prussia District's Board of Directors and staff released the organization's 2024-2029 Strategic Plan. The plan centers on driving activity and investment in King of Prussia, a contrast to the District's 2020-2023 Strategic Plan, which was created in the midst of the COVID-19 pandemic and focused on recovery. Within the plan, we unveiled a streamlined version of our mission statement, established a vision statement and guiding principles for the organization, and outlined goals for our five programs.
2022 & 2023 Revenue & Functional Expense Summary
Revenue
Assessment Fees
Corporate and Individual
Contributions
Corporate Sponsorship
Special Events/In-Kind Contributions
Interest/Fees
Capital Improvements/Grants*
Other
Total Revenue
2022
$2,070,176
72,752
130,791
335,186
468
1,012,880
30,539
3,652,792
2023
$2,102,317
1,500
100,138
215,289
47,124
683,470
50,000
3,199,838
Grants revenue represents funding received for construction of Linear Park Phase Two.
2022 vs 2023 Functional Allocation of Expenses
Revenue
Physical Improvements
Marketing & Communications
Transportation
Land Use & Zoning
Tax Policy
Management & General
Fundraising
Total Revenue
2022
$1,839,446
912,691
315,129
42,647
39,684
407,687
101,963
3,659,247
2023
$1,265,810
887,707
246,443
78,674
16,807
316,091
106,602
2,918,134
All revenues and the Functional Allocation of Expenses reflect audited financial statements from
December
31, 2022 and December 31, 2023.
Completed copies of the December 31, 2023 audited financial statements by Kreischer Miller for King of Prussia
District are available upon request. Contact Julie DeMasi, Manager of Finance & Administration, at
julie@kopbid.com.
Thank You
2024 Board of Directors
Chair
Cheryl Gebeline-Myers
Middleman Family Pavilion, CHOP-KOP
VICE CHAIR
Eric Davies
Wurzak Hotel Group
TREASURER
Richard Kubach
Kubach Management, LLC
SECRETARY
Bob Hart
Simon Property Group
past chair
Lea Anne Welsh
AVE by Korman Communities
Ronald Bailey
Valley Forge Casino Resort
John Bown III
Industrial Investments, Inc.
Michael Brookshier
Keystone Development
+ Investment
Audrey Greenberg
Center for Breakthrough Medicines
Anthony Hamaday
Upper Merion Township
Andrew Horning
Bala Consulting Engineers, Inc.
Peter Karakelian
The Autowash Group, Inc.
Joseph Mancuso
CBRE Global Investors
Carol McCoy
Retired
David McManus
The Westover Companies
Kathy Sweeney-Pogwist
Brandywine Realty Trust
Steven Powell
Kravco Company, LLC
Suzanne Ryan
PECO
Staff
Eric T. Goldstein
President & CEO
Shauna Sanchez
Content Marketing Manager
Lauren Sliva
Events Manager
Rachel Ammon
Director, Marketing
& Communications
& Communications
Chris Basler
Director, Capital Projects
& Planning
& Planning
Julie DeMasi
Manager, Finance
& Administration
& Administration
2024 REPORT TO THE COMMUNITY
Sources
2020 Decennial Census
ACS 5-Year Estimates
CBRE Research
CoStar
CoStar, Newmark Office Reports
Life Sciences PA
Montgomery County Planning Commission
National Park Service
OnTheMap 2021
Pennsylvania Gaming Control Board
STR Trends Report 2024
Upper Merion Township
US Census Bureau Center for Economic Studies, LEDH
US Dept. of Energy Alternative Fuels Data Center
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