A prominent Bucks County development site, once planned for a large mixed-use project, is returning to the lender after receiving no bids at a sheriff’s sale. The 35-acre property at 2201 Street Road in Bensalem was owned by a company controlled by Jignesh “Jay” Pandya, owner of the Boston Market restaurant chain. Located between Hulmeville… Read more »
A major residential development is underway in West Philadelphia, bringing 169 units to Wynnefield Heights. Known as Wynnefield Heights Square, the project at 4050 Conshohocken Ave. began pre-sales last week, offering 142 condos starting at $289,000 and 27 townhomes starting at $499,000. Noah Ostroff, founder of the PhillyLiving real estate team and partner at Keller… Read more »
The future of a prime site along the Delaware River waterfront is becoming clearer. PrimeSpace Capital is set to unveil a CubeSmart self-storage facility at Pier 40 next week, following a complete restoration of the historic 180,200-square-foot property at 841 S. Christopher Columbus Blvd. The New York-based developer, specializing in self-storage, acquired the site from… Read more »
Rockefeller Group is planning a 192,000-square-foot warehouse in Northeast Philadelphia, adjacent to Holmesburg Prison, expanding the area’s growing industrial footprint. The project at 8301 Torresdale Ave. features 40-foot clear heights, 30 dock doors, two drive-in ramps, 150 parking spaces for cars, and 44 spaces for trailers. Although the warehouse is being developed without pre-leased tenants,… Read more »
The closed University of the Arts filed for Chapter 7 bankruptcy protection on Friday, aiming to liquidate its assets, including its Center City real estate valued at over $87 million. This filing in U.S. Bankruptcy Court in Delaware follows the collapse of merger talks with Temple University. UArts, which abruptly shut down in June, will… Read more »
Mayor Cherelle Parker stated Wednesday that she will consider input from all stakeholders before deciding on the Philadelphia 76ers’ proposed arena in Center City, but a decision is “forthcoming.” “I’m not talking about in months,” Parker clarified during a town hall discussion, emphasizing that future return on investment is her primary concern. Hundreds gathered at… Read more »
A Conshohocken developer has listed the Gretz Brewery building in Olde Kensington for $6.6 million and is seeking approval for 200 apartments on the site ahead of a potential sale. The Rufo Companies, which owns the historic property at 1524-1538 Germantown Ave., originally received permits in 2019 for a redevelopment project with 220 units. They… Read more »
Drexel University has acquired a prominent parcel adjacent to its campus, securing the opportunity for future redevelopment. Currently occupied by a 7-Eleven convenience store, Drexel has stated the store will remain open for the foreseeable future. The university, through its subsidiary Academic Properties Inc. (API), purchased the site at 3401 Lancaster Ave., located at the… Read more »
A Fort Worth, Texas-based golf course owner has made its first acquisition in the Philadelphia region, purchasing a 21-year-old private club in Chester County. Escalante Golf, which owns nearly two dozen courses across the U.S., finalized the purchase of French Creek Golf Club in Elverson this July, according to Chester County property records. The deed… Read more »
Amid a nationwide slowdown in new construction, Archive Development is moving forward with its largest project yet after securing innovative financing. The Philadelphia developer will break ground next week on a seven-story, 114-unit apartment building at 1440 N. Front St. in Fishtown, adjacent to the Market-Frankford Line. The $32 million development is funded through a… Read more »
