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 bucking "the trend with what buyers cited as a combination of location, security, and newness." Prices for houses ranged from $300,000 to $900,000, with 618 units built.