Each year, the Philadelphia skyline changes and as it continues to fill in, it demonstrates how certain industries and segments are thriving in the region.
Economic uncertainty plagued much of 2022 and the same remains true well into 2023. But looking around the region at the many projects underway or delivered, it was hard to tell that headwinds persisted.
Even under difficult conditions, dealmakers got the deals done. The resulting multimillion-dollar deals and new developments are adding jobs to the region that will shape it for years to come. Local investors are betting big on industrial real estate, life sciences and health care, while the strong housing market has led to new luxury properties and affordable housing alike.
Every year, the Business Journal recognizes these impactful projects and the people behind them for our annual Best Real Estate Deals and Dealmakers of the Year awards program.
An outside panel of judges selected this year’s honorees, which total 30 deals/projects. The deals are broken into the following categories: affordable housing, apartments, higher education and health care, industrial, office, retail and hospitality, and single-family and condo. This year we also are recognizing a project as an editor’s choice.
Best Real Estate Deals and Dealmakers of the Year judging panel
In addition, we have named 16 Dealmakers and Rising Stars. These individuals were also selected by the judging panel from dozens of nominations.
This year, judges selected two Dealmakers of the Year, plus a pair of business partners as the Rising Stars of the Year. Judges involved in a deal recused themselves during deliberations.
A special thank you to Business Journal Real Estate Reporter Paul Schwedelson for his contributions to this publication.
Despite lingering questions about the state of the economy, one thing remains clear: Developers and investors are sold on the potential of Greater Philadelphia, which will see its development boom continue for years to come.
By Lisa Dukart – Associate Editor at Philadelphia Business Journal