The shipbuilding business is growing at the Philadelphia Navy Yard, and now the office space is growing with it.
Hanwha Philly Shipyard has signed a lease for 64,380 square feet at 201 Rouse Blvd., giving the company three floors in the South Philadelphia office building as it expands its shipbuilding operations and workforce.
Employees have already begun moving into the new space, according to Ensemble Investments, which owns the building.
The new offices will house administrative operations for Hanwha Philly Shipyard. Moving those employees into office space near the company’s 115-acre shipyard campus will also free up existing space for construction and production as Hanwha works to increase shipbuilding capacity.
“As Hanwha Philly Shipyard continues to grow, we are focused on making the investments necessary to expand our shipbuilding capacity and position the Shipyard for the future,” said David Kim, CEO of Hanwha Philly Shipyard. “Our lease at 201 Rouse Blvd. represents a significant investment that will provide our teams with a modern workplace close to the Shipyard while allowing us to dedicate more of our existing footprint to construction and production as we increase shipbuilding capacity.”
Hanwha Systems and Hanwha Ocean acquired Philly Shipyard in December 2024 and have since announced major investments aimed at modernizing the facility, increasing production and growing its Philadelphia workforce.
The company’s expansion comes as the Navy Yard continues to evolve from its longtime military roots into a mix of shipbuilding, advanced manufacturing, research, engineering and office operations.
“This lease demonstrates the value of having a flexible office portfolio within a campus built to support companies as their needs evolve,” said Nelson Way, vice president of leasing and development at Ensemble. “Hanwha is growing rapidly, and 201 Rouse Blvd. gives its team the space and proximity needed to support that expansion. Ensemble is proud to help accommodate that growth and continue building the Navy Yard as a place where major employers can establish, expand and invest for the long term.”
Built in 2015, 201 Rouse Blvd. is an 80,000-square-foot, Class A office building with LEED Gold certification. It features floor-to-ceiling windows, energy-efficient mechanical systems and environmentally sensitive landscaping.
The Hanwha lease also adds to the Navy Yard’s growing importance as a South Philadelphia employment center.
“The Navy Yard continues to be one of Philadelphia’s most important centers of development and job growth,” said City Council President Kenyatta Johnson, whose 2nd District includes the Navy Yard. “Hanwha’s expanding presence builds on that momentum and reinforces the campus’s role in driving new activity and investment across the city.”
Kate McNamara, executive vice president of the Navy Yard at PIDC, said the campus is designed to give companies room to grow, with office, industrial and development space available in one location.
“The campus’s range of office, industrial and development space allows employers to adapt and expand as their needs evolve,” McNamara said. “Hanwha’s growing presence demonstrates how that flexibility can support new investment, create quality jobs and strengthen Philadelphia’s role in the future of American shipbuilding.” ••
