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 »
Pearl Properties has paid $7.5 million to acquire a long-vacant — and controversial — Jewelers’ Row parcel from Toll Brothers Inc. The Philadelphia developer of high-end apartment buildings has not publicly commented on the transaction but property records now show the deal has closed. News of Pearl Properties potentially taking over the site at 702-710 Sansom St…. Read more »
German grocer Lidl has bought the site of a planned warehouse at the Keystone Trade Center in Bucks County for $144.6 million, property records show, another step in the company’s rapid expansion along the East Coast. Lidl purchased the 69 acres from Kansas City, Missouri-based NorthPoint Development, which is building the $1.5 billion, 1,800-acre logistics… Read more »
As Victor Rodin planned a new apartment building in Northern Liberties the past few years, the world changed around him. The Covid-19 pandemic altered people’s habits and the neighborhood became a hotspot for proposed multifamily projects. So Rodin, who runs development company RREI LLC with his father Neal, changed his plans too. The 12-story building,… Read more »
A three-building, 120-unit development is being proposed on the banks of the Schuylkill River in Manayunk. The mixed-use project is planned for 3900 Main St., just outside of the stretch of shops and restaurants that make up the heart of Manayunk’s commercial corridor. The entire project would total close to 150,00 square feet, including nearly… Read more »
