University City
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John Ternus, Next CEO of Apple, is a University of Pennsylvania Alum
Apple recently announced that University of Pennsylvania alumnus John Ternus will become the next CEO of the company starting September 1, writes Alastair Goldfisher for the Philadelphia Business Journal. Ternus will be the successor to incumbent CEO Tim Cook, who will be stepping into the role of Apple’s executive chairman. In a statement, Cook said…
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World Stage, Formerly World Cafe Live, Faces Uncertain Future As Troubles Continue
For two decades, World Cafe Live served as a valued cultural and artistic hub, but in recent months, that hasn’t been as much of the case, writes Julia Binswanger for Billy Penn at WHYY. In May 2025, tech entrepreneur Joseph Callahan was named the new CEO after founder Hal Real retired from the role after…
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Penn Engineering Secures $40M in Early Commitments for $200M Research Fund Aimed at Combating Federal Cuts
A $200 million fund launched by the University of Pennsylvania’s School of Engineering and Applied Science will support faculty research and seed startups, aiming to offset the shortfall caused by federal funding cuts to universities, writes Ryan Mulligan for the Philadelphia Business Journal. The Futures Fund is set to back research and initiatives in fields…
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The Palestra is Synonymous With Philadelphia College Basketball
The Palestra in Philadelphia is one of the most special sports stadiums in the nation, write Siafa Lewis and Will Kenworthy for CBS News Philadelphia. The stadium first opened its doors on Jan. 1, 1927. Since then, coaches and players alike has shared countless memories at the stadium. There’s Phil Martelli, who coached at Saint…
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Penn Medicine Receives $10 Million Gift To Establish New First-Of-Its-Kind Research Center
Penn Medicine was recently gifted $10 million, which is being used to establish its new King Center for Lynch Syndrome, writes John George for the Philadelphia Business Journal. According to Penn Medicine, the new research center is the world’s first named for Lynch syndrome, a genetic condition that increases the risk of developing certain types…
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University of Pennsylvania Marks Strongest Endowment Growth Since 2021, Nears $25 Billion
The University of Pennsylvania reported a 12.2 percent return on its endowment for fiscal 2025, bringing the total value to $24.8 billion, writes Ryan Mulligan for the Philadelphia Business Journal. The $2.5 billion year-over-year increase marks Penn’s strongest endowment growth since fiscal 2021, when its value surged by nearly $6 billion in the wake of…
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David Fajgenbaum, Penn Immunologist Who Repurposed a Drug to Save His Own Life, Wins John Scott Award
David Fajgenbaum, a Penn Medicine immunologist who gained notoriety for saving his own life by repurposing an existing drug, has won the prestigious John Scott Award, writes Sarah Gantz for The Philadelphia Inquirer. He will be presented with the award, one of the oldest science awards in the United States, and the accompanying $10,000 cash…
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Former Penn Physicist Arthur Goodspeed Accidentally Created the X-Ray in the 1890s
In 1896, University of Pennsylvania physicist Arthur Goodspeed took images of coins inside a small purse, images that became the precursor to what we now all know as X-rays. As his descendants stumbled upon a box of his stuff, they found those images along with various artifacts that they have decided to donate it back…
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Wharton School Receives Largest Gift in History, Will Establish First New Degree Program in 50 Years
The Wharton School of the University of Pennsylvania has received a $60 million gift from alumnus Bruce I. Jacobs, writes Ryan Mulligan for the Philadelphia Business Journal. This marks the largest donation the Wharton School has ever been gifted in its 144-year history. With it, the school plans to establish the new Master of Science…
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Penn Medicine Opens New $376 Million Research Center in Philadelphia
Penn Medicine officially recently opened a new research center, a $376 million project that has added eight floors to a seven-story office building housing the Hospital of the University of Pennsylvania, writes John George for the Philadelphia Business Journal. The new levels at 3600 Civic Center Boulevard house teams from the Colton Center for Autoimmunity…
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FS Investments to Relocate Headquarters, Changes Name As Part of Rebrand
FS Investments has undergone significant growth in recent years, and that growth is leading to a company relocation and subsequent rebrand, writes Jeff Blumenthal for the Philadelphia Business Journal. The company is scheduled to officially relocate from the Philadelphia Navy Yard to a larger space at the Schuylkill Yards in University City. In addition, FS…
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Wall Street Journal: This Philadelphia Company is Better Equipped Than Others to Navigate Tariff Situation
While companies worldwide are having to manage the uncertain trade environment because of tariffs, some are better suited to navigate the situation than others, write Rick Wartzman and Kelly Tang for The Wall Street Journal. More specifically, companies that are well-managed and innovative often fit the description. Robert Handfield, executive director of the Supply Chain…
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Swiss Patient Returns to Penn Medicine Following Life-Changing Double Hand Transplant
Luka Krizanac, a patient from Switzerland, recently returned to Philadelphia for a visit to Penn Medicine, the hospital where he underwent a life-changing double hand transplant, writes Stephanie Stahl and Brad Nau for CBS News Philadelphia. For the first time in 17 years thanks to the transplant, Krizanac is able to text on his phone…
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Wistar Institute Opens New HIV Cure and Viral Diseases Center
The Wistar Institute recently celebrated a ribbon cutting for the opening of its new HIV Cure and Viral Diseases Center. The vision for the center is to uncover the fundamental science that powers tomorrow’s cures for HIV and other viral diseases. The belief is that revealing how viruses work and how the immune system responds,…
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NASCAR Eyes Franklin Field for Upcoming Race
Philadelphia’s Franklin Field may soon welcome a NASCAR race, writes Matt Connolly for the Harrisburg Patriot-News. The historic stadium, once home to the Philadelphia Eagles and now host to the Penn Relays as well as Penn’s football, track and field, and lacrosse teams, is being eyed by NASCAR as a potential race venue. Last year,…
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Haraz Coffee House Brings Yemeni Coffee to Philadelphia With New Cafe in University City
Haraz Coffee House has been serving traditional Middle Eastern drinks with sun-dried coffee beans in more than a dozen locations throughout the country. While Detroit and New York City have the main cities where Yemeni coffee shops have flourished, Philadelphia could eventually join the list as a new storefront has opened in University City, writes…
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University City District to Seek Funding for $60M Schuylkill River Waterfront Project
University City District is currently embarking on fundraising efforts to pursue the Schuylkill River Waterfront Project that was first proposed in spring 2024, writes Paul Schwedelson for the Philadelphia Business Journal. The proposed project features a two-deck structure along the Schuylkill River’s west bank between Market and Chestnut streets. Meanwhile, the lower deck would include…
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University City Still Among the Hottest Submarkets Nationwide for Tech Office Space
University City is still one of the nation’s hottest submarkets for tech office space, writes Ryan Mulligan for the Philadelphia Business Journal. Office space rents in the growing business corridor increased at the third fastest rate in the country year over year in the second quarter of 2024, according to a new CBRE report. University…
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