PHILADELPHIA, PA — September 16, 2026— Ensemble Investments, LLC (Ensemble) today announced that Hanwha Philly Shipyard, Inc. (Hanwha) has signed a 64,380-square-foot office lease at 201 Rouse Boulevard at the Philadelphia Navy Yard. Hanwha will now occupy three floors of 201 Rouse Boulevard, and employees have already begun transitioning into the building. The new space will support administrative work connected to Hanwha’s growing shipbuilding operations and significantly expands its presence within Ensemble’s Navy Yard portfolio.
Developed in 2015, 201 Rouse Boulevard is an 80,000-square-foot, Class A office building certified LEED Gold by the U.S. Green Building Council. The building features floor-to-ceiling windows that bring natural light into the office space, along with highly efficient mechanical systems and environmentally sensitive landscaping.
“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 Boulevard 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.”
The new office lease builds on Hanwha’s substantial presence at the Navy Yard, where its 110-acre shipyard campus anchors Philadelphia’s growing shipbuilding industry. The Navy Yard has become a nationally significant center for maritime activity and advanced manufacturing, bringing together commercial shipbuilding, naval research and engineering, and companies supporting defense and maritime production. Hanwha Systems and Hanwha Ocean acquired Philly Shipyard in December 2024 and have since announced major investments intended to modernize the facility, increase production, and grow its Philadelphia workforce.
“Hanwha’s continued investment at the Navy Yard reinforces Philadelphia’s role in the future of American shipbuilding and Pennsylvania’s strength as a destination for advanced manufacturing,” said Rick Siger, Secretary of the Pennsylvania Department of Community and Economic Development. “By expanding its operations and workforce here, Hanwha is creating new opportunities for Pennsylvanians while contributing to the long-term growth of our regional and statewide economies. The Shapiro Administration is committed to working alongside Hanwha, Ensemble, PIDC, and our local partners to support the shipyard’s continued growth and ensure this critical industry has a strong future in Pennsylvania.”
“This lease reflects the kind of growth the Navy Yard was designed to support,” said Kate McNamara, Executive Vice President, Navy Yard at PIDC. “The campus’s range of office, industrial, and development space allows employers to adapt and expand as their needs evolve. 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.”
“The Navy Yard continues to be one of Philadelphia’s most important centers of development and job growth,” said Philadelphia City Council President Kenyatta Johnson, whose Second 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.”
Located within Ensemble’s office portfolio at the Navy Yard, 201 Rouse Boulevard offers Hanwha’s administrative teams proximity to the company’s shipbuilding operations. The transaction demonstrates how the Navy Yard’s mix of high-quality office and industrial properties can accommodate the interconnected needs of a growing employer.
Hanwha was represented in the transaction by Eric Wahlers and Chris Werner of JLL.
About Ensemble Investments
Ensemble Investments, LLC (Ensemble) is a premier real estate investment, development, and management firm with a proven track record of transforming communities. Since 1989, Ensemble has invested in and developed more than $2 billion in real estate across the U.S., specializing in hospitality, life sciences, corporate office, multifamily, and retail. Headquartered in Long Beach, CA, with offices in Philadelphia and Phoenix, Ensemble is the exclusive developer of a 109-acre mixed-use district at the Navy Yard in Philadelphia. Guided by integrity and a long-term vision, Ensemble creates properties that drive economic growth and enrich the communities they serve. Learn more at ensemble.net and follow Ensemble on LinkedIn.
About PIDC and the Philadelphia Navy Yard
PIDC is Philadelphia’s public-private economic development corporation. Since acquiring the 1,200-acre site from the federal government in 2000, PIDC has been the master developer and site operator of the Navy Yard. PIDC’s mission—to spur investment, support business growth, and facilitate developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia—strongly informs its strategy for the Navy Yard, where the focus is on building a cohesive community that fosters employment, innovation, and production. PIDC manages all aspects of the property’s management and development, including master planning, leasing, property management, infrastructure development, utility operation, and structuring development transactions. For more information, please visit pidcphila.com and navyyard.org.
