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 »
The multi-billion-dollar redevelopment of a former oil refinery site in Philadelphia, a project touted as what will be one of the largest and most strategically located U.S. logistics hubs, now has a moniker that reflects the times. Developer HRP, formerly known as Hilco Redevelopment Partners, on Monday announced the 1,300-acre South Philadelphia property it acquired… Read more »
PhilaPort has put Piers 38 and 40 up for sale, having decided it no longer needs the properties to support its operations and would be better off using any proceeds from their sale toward funding future operations. The properties at 775 S. Christopher Columbus Ave. are being sold as a pair and combined total nearly… Read more »
A venture between Ensemble Real Estate Investments and Mosaic Development Partners is proposing what would be the first large-scale multifamily development for the Philadelphia Navy Yard. Called 1200 Normandy Place, the mixed-use development would have 611 apartments across two separate buildings that combined would total 704,356 square feet. Of that space, 25,755 square feet would… Read more »
