Keystone has secured $42 million from Arbor Realty Trust to convert a 175,000-square-foot office building at Plymouth Meeting Mall into Monarq, a 149-unit residential community. Located at 500 W. Germantown Pike, near the I-476 and I-276 intersection, the building shares a parking lot with Whole Foods and AMC Theaters. The first phase is set for… Read more »
The developer of the Village at Valley Forge is in talks with potential medical tenants for a build-to-suit facility on the last remaining undeveloped portion of the 132-acre project in King of Prussia. Philadelphia-based Realen Properties developed the $1.5 billion master-planned community, strategically located between I-76, Route 202, and Route 422. After selling off individual… Read more »
Abrams Realty & Development has officially acquired Exton Square Mall, finalizing the purchase on Tuesday and setting the stage for a major redevelopment of the struggling retail property. The Elkins Park-based firm, led by owner Peter Abrams, purchased the 75-acre site for $34.25 million. The seller, Philadelphia-based regional mall operator PREIT, had previously been under… Read more »
Goldenberg Group has listed a key property at Broad and South streets, signaling a shift in its redevelopment plans. The 0.7-acre site is part of a larger project spanning Broad Street between Lombard and South, including a proposed 43-story residential tower just north of the listing. Originally planned for a second phase, the site at… Read more »
The Philadelphia Parking Authority will demolish a five-story parking garage near Jefferson Health’s Center City campus to make way for a new eight-story garage with 6,500 square feet of ground-floor retail along Chestnut Street. Gilbane, based in Rhode Island, was selected to build the new garage at 10th and Ludlow streets. While the property is… Read more »
University City District is meeting with state lawmakers as it ramps up fundraising for its $60M West Philadelphia Waterfront project along the Schuylkill River. The two-deck structure, proposed last spring, would stretch between Market and Chestnut streets, featuring a café, aquatic marsh, beach, and splash pad. Construction likely won’t begin until 2027 to avoid competing… Read more »
Plans have shifted for the Broad Street Diner site in South Philadelphia. Owner Michael Petrogiannis now intends to develop a 110-key Hyatt Studios hotel at 1135-43 S. Broad St., replacing his previous plan for a five-story, 31-unit residential building with restaurant space. The hotel will rise five or six stories and include surface parking. The… Read more »
A Northeast Philadelphia parcel with approved development plans has been sold to a New York-based firm for $4 million. Paramount Realty, based in Lakewood, New Jersey, sold the property at 5501 Whitaker Ave. to an entity affiliated with Brooklyn’s Asset Realty and Construction Group, according to Philadelphia property records. The triangular lot is adjacent to… Read more »
A rare development opportunity is available along Main Street in Manayunk, featuring approved plans for 181 luxury waterfront apartments. Located on “Venice Island” between the Manayunk Canal and Schuylkill River, the offering also includes 4436 Main St. across the canal, with plans for 1,441 square feet of retail space. The residential project spans two five-story… Read more »
The 76ers have decided to remain in South Philadelphia’s sports stadium district, according to multiple City Council members. This decision follows over two years of intense debate about building a new arena on East Market Street in Center City. Despite City Council passing legislation late last year to support the Center City arena project, Comcast… Read more »
