A development team for 109 acres at the Philadelphia Navy Yard has fine tuned its initial plan for the site that involves $6 billion in new investment over the next two decades. The build out is expected to result in 12,000 new jobs at the South Philadelphia property and continue its transformation. The plan calls… Read more »
Southern Land Co. has started construction on its new 27-story multifamily development at 1620 Sansom St. in Center City Philadelphia. The Nashville, Tennessee-based developer’s latest Philadelphia project is set to include 254 luxury rental units, including multiple penthouses with private terraces. Southern Land Co. purchased the site for the development project, which was previously home to an aging parking… Read more »
Main Line Health plans to pursue a health and wellness concept for the 75-acre St. Charles Borromeo Seminary property in Wynnewood after acquiring the site for $43.5 million in 2019. The development, which a Main Line Health spokesperson said will take shape over the next 10 years or more, will be anchored by medical offices… Read more »
PRDC Properties has sold 650 Fairmount, a 5-acre parcel in Northern Liberties where it had planned to build a $100 million mixed-use development. Accurate Builders & Developers of Lakewood, New Jersey, bought the site for an undisclosed amount. Accurate is expanding into the Philadelphia market and will move forward with the mixed-use project PRDC had… Read more »
Philadelphia International Airport is readying to break ground on the first phase of its $90 million undertaking to triple its cargo footprint with a new facility on the former grounds of its economy parking lot. As part of the plan which it announced last summer, PHL will construct a new nine-acre, 70,000-square-foot facility. The air support… Read more »
Jefferson Apartment Group and Haverford Properties have closed on a long-term ground lease of one of the largest parcels fronting the Delaware River as well as secured construction financing that will pave the way for the development of a mixed-use project along the waterfront. In addition to apartments, the development will have a new Sprouts… Read more »
Philadelphia Suburban Development Corp. has put up for sale 700 Packer Ave., a 13-acre parcel in South Philadelphia it had floated as an alternative location for the 76ers when the team was in search of a new arena. While the basketball team didn’t go to the property, referred to as Stadium Square, it has remained a potential… Read more »
An affiliate of Waste Management Inc. paid $14 million for 64 acres at the former U.S. Steel site in Fairless Hills and is planning a roughly $100 million project to expand an existing landfill it operates there. Waste Management (NYSE: WM) bought the property from NorthPoint Development. The sale involved an arrangement in which Waste… Read more »
Affiliates of Bruce E. Toll sold 79.5 acres of land in Langhorne for $50 million to Novaya Foxfield Industrial, a Boston real estate company that has been active in the Philadelphia area. At the same time, Novaya Foxfield has moved on from the first property it acquired in the region, selling 900 River Road in Upper Merion… Read more »
Lcor Inc. has proposed a seven-story apartment building with 157 units at 5th and Bainbridge streets in South Philadelphia, a by-right plan that may lead to development taking place on what is now a surface parking lot. E-Z Park, a Philadelphia parking operator, owns the site and has been trying to develop the parcel for… Read more »
