Penn’s Nunery to Detail Role of Commercial Enterprise in Collaborative Urban Development Initiatives

PHILADELPHIA In just five years, the West Philadelphia neighborhoods adjacent to the University of Pennsylvania, have gone from unsafe, blighted and trash-strewn to safe, clean and "happening" places to live, work and have fun.

Leroy D. Nunery, vice president of business services for Penn, will review the lessons learned from Penn urban-development initiative at the April 9-10 conference, "Creative Redevelopment Partnerships: The Role of the Urban University." The conference will be hosted by Saint Louis University and The Urban Land Institute.

The West Philadelphia Initiative, Penn five-front approach, addresses clean and safe neighborhoods, public-school improvements, commercial development, increased business development and encouraging home ownership and renovation.

Nunery, who has been with Penn since 1999, directs Penn major commercial enterprises and is a board member of its primary real-estate subsidiary, University City Associates. Under his watch, the Acquisition Services Department is on target to do more than $65 million in business with West Philadelphia businesses, with $58 million of that total being directed to minority-owned and women-owned businesses in the fiscal year ending June 30.

Also, Penn construction projects are designed with a minimum of 20 percent of the business opportunities going to community and minority businesses and a minimum of 25 percent of the job opportunities given to community and minority residents. Seventy-three percent of the mortgage participants in the University guaranteed-mortgage program have been first-time home-owners. The program has been so successful, interested families are now on a waiting list for properties.

Nunery came to Penn with business development experience from a diversified group of financial services institutions, consumer products companies and the National Basketball Association.

He also shares his expertise in strategic-plan development, organizational development and fund raising through service on a number of boards, including several in the West Philadelphia community, and the trustees board of his alma mater, Lafayette College, where he earned a bachelor of arts degree. He holds an M.B.A. from Washington University and is currently pursuing his Doctorate in Education at Penn.

Additional information on the conference is available at www.slu.edu/ events or http://www.ascribe-news.com.