Naval Square, Philadelphia

Naval Square is a Gated community within the Graduate Hospital neighborhood of Philadelphia that served as the first United States Naval Academy from 1834 to 1845 when the Naval Academy formed in Annapolis. It continued as a retirement home for sailors and marines and was called the Naval Home until 1976 when the facility was relocated to Mississippi. According to the Office of Housing and Community Development, the neighborhood became official, as the three independent parties, the city of Philadelphia (Office of Housing and Community Development), the OHNP (Office of Housing and Neighborhood Preservation), and Toll Brothers worked to bring the historic location to prominence. The Philadelphia Inquirer said that the neighborhood, considered a condo development, succeeded in "... buck[ing] the trend with what buyers cited as a combination of location, security, and newness". Prices for houses in this location ranged from $300,000 to $900,000 with 601 units built. The unique notable feature of Naval Square is that the neighborhood has a "suburban feel" inside the city, which is considered a differentiator from other neighborhoods inside the city. The neighborhood also differentiates itself from other suburban neighborhoods in that this neighborhood is inside the city. According to the source, one resident chose this neighborhood because he wanted a home "near bars, but not in them". The New York Times states that Naval Square is part of a trend of gentrification in the city that was driven by new tax abatement policies. The boundaries of the neighborhood are set by the surrounding brick wall on Grays Ferry Avenue to the east, Bainbridge Street to the north, Schuylkill Avenue to the west, and Christian Street to the south. The Children's Hospital of Philadelphia will be building three new 26-story towers next door to this community in the Schuylkill neighborhood, which is located just outside this gated community, by 2017.