The City of Philadelphia has selected firms to conduct two of the three independent evaluations planned for the 76ers’ polarizing Center City arena proposal. BJH Advisors and Sojourner Consulting will analyze the project’s community impact and CSL will conduct an economic analysis and projections, the city announced Wednesday. *Article courtesy Philadelphia Business Journal For more… Read more »
The landmark Melrose Diner, shuttered since a fire a year ago, will be demolished — but the diner will live on as part of a new 94-unit apartment building. Plans filed with the city on Wednesday, first reported by the Rising Real Estate blog, called for a six-story, 55-foot-tall mixed-use building with a roof deck… Read more »
Rivers Casino in Fishtown plans to open a 62-suite boutique luxury hotel with an indoor basketball court this year inside The Battery, the $154 million redevelopment of a former PECO power plant along the Delaware River. Riversuites could be accepting reservations as early as the fall, Rivers Casino said Tuesday, and is expected to open by the… Read more »
The latest proposal to turn the Painted Bride into a mixed-use development was met with pushback from neighborhood stakeholders during a Zoning Board of Adjustment hearing on Wednesday. Revised plans for the property at 230-236 Vine St. call for 85 short-term residences, a ground-floor restaurant, underground parking and two roof decks — one for the… Read more »
With more than 1,700 residential units and an influx of commercial development planned along City Avenue, developers and business leaders are aiming for the Northwest Philadelphia corridor to transform from an auto-centric thoroughfare into a regional hub. Marked by major development projects mixing residential, retail, office, hospitality and public space, City Avenue is primed for… Read more »
The first time Cory Scott heard that the Philadelphia 76ers wanted to build a Center City arena at the site of the Fashion District, he was in disbelief. Then the excitement set in. Scott is executive vice president of asset management for Macerich, the real estate investment trust that owns the Fashion District. The Sixers’ proposal for a… Read more »
Villanova University plans to build a new boathouse along the Schuylkill River after acquiring a 9.8-acre parcel of land that had been proposed for a 270-unit apartment project. The school closed on its $11.5 million acquisition of the land at 601 Washington St. in Conshohocken last month, according to property records. Villanova said the “best-in-class”… Read more »
The city of Philadelphia said Wednesday it will conduct an independent evaluation of the Philadelphia 76ers’ proposed Center City arena, a hot-button development project that’s been closely watched since being unveiled last summer. The $1.3 billion arena is proposed at the site of the Fashion District on Market Street between 10th and 11th streets. The… Read more »
A prime development site is hitting the market at Broad and Spring Garden streets, a corridor that has experienced a flood of new projects over the last several years. EB Realty Management Corp. is putting two properties spanning 523-525 N. Broad St. up for sale. The listing comprises a 0.55-acre surface lot in a CMX-4… Read more »
A surface lot planned for the development of a seven-story, 144-unit apartment building in Philadelphia’s Callowhill neighborhood has been acquired for $7.9 million. An affiliate of Patriot Parking Inc. recently sold the 0.46-acre parcel at 1201-15 Callowhill St. to an undisclosed buyer. The property is on the northwest corner of North 12th and Callowhill streets,… Read more »
