Five Key Takeaways from Our 2025 Report to the Community

We recently launched our 2025 Report to the Community, an interactive look at King of Prussia’s progress. As an organization focused on accelerating economic growth and enhancing quality of life in King of Prussia, we’re proud to share several highlights that reflect the strength and momentum of our community.

Here are five key takeaways from this year’s report:

1. Development activity remains strong across all sectors.
   Commercial real estate in Upper Merion Township/King of Prussia continues to perform at a high level. Office vacancy closed out 2024 at just 9.3% across 162 properties and 8M SF of space. Retail vacancy remains remarkably low at 2.3%, supported by the addition of 41 new businesses. Our development pipeline also remains active, with new projects underway in retail, entertainment, housing, life sciences and logistics.
2. Visitor and employee trips are on the rise.
   King of Prussia continues to serve as a regional economic and employment hub. Visitor trips to the area have increased 3.4% over the last three years, while employee trips rose 39.4% in the same period. This growth reflects a return to pre-pandemic norms and supports increased activity in our retail and dining sectors.
3. King of Prussia is a leading life sciences hub.
   There is 2.8M SF of dedicated life sciences space in the King of Prussia/Valley Forge submarket, making it the largest in the Philadelphia region. The King of Prussia life science vacancy rate is 6.5%. Our infrastructure, strong housing market and access to talent continue to position us as a preferred location for biotech, pharmaceutical and medical research organizations.
4. Investments in public space and infrastructure are enhancing quality of life.
   We made significant progress in 2024 on several community enhancement projects. The completion of the First Avenue Linear Park—recognized with a prestigious 2024 Montgomery Award for excellence in planning and design—marks a major milestone in our efforts to create accessible and attractive public spaces. Plans are also in motion for Recharge Park, a new public space designed to expand recreational opportunities for both residents and visitors.
5. King of Prussia remains a desirable place to live.
   Upper Merion Township was ranked #2 on Fortune’s 2024 list of Best Places to Live for Families, reflecting the township’s ongoing appeal. Our population reached 35,000 in 2023—a 26% increase over the past decade—and housing demand remains high. Since 2016, more than 3,500 new housing units have been built, with low vacancy rates across both rental and for-sale properties.

Beyond these highlights, the report also covers the accomplishments of our five core programs. Notable initiatives from 2024 include:

• Completion of the award-winning First Avenue Linear Park and Road Diet Projects, improving safety and walkability in Moore Park.
• Installation of a comprehensive Renaissance Park signage suite, enhancing wayfinding for tenants and visitors.
• Launch of a new Data Dashboard that tracks 14 key metrics related to commercial real estate, commuter activity, housing trends and business tax impacts.
• Growth of the HQ KOP campaign, including a new commercial designed to attract companies and headquarters to the region.
• Completion of our first comprehensive Community Engagement Project, strengthening connections with residents and stakeholders.
• Expansion of our Research & Data Analytics Program, providing key insights to the business community and regional leaders.

Since our founding in 2010, more than $9B has been invested in development and commercial real estate transactions in King of Prussia. These investments reflect the confidence our stakeholders have in this community—and the results speak for themselves.

Check out our informational webinar for an in-depth look at the report highlights, insights and a Q&A here.

We invite you to explore the full report here.