Melrose Diner South Philly to be Demolished

Melrose Diner South Philly Being Demolished

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 and ground-floor commercial space.

After reports emerged of impending demolition plans for the famed diner car last year, owner Michael Petrogiannis initially told The Inquirer that he would not demolish it. The new permit does call for a complete demolition of the existing diner and bakery, although a planned ground-floor commercial space in the proposed building would be occupied by a new iteration of the Melrose Diner that he would operate, Petrogiannis told The Inquirer Thursday.

*Article courtesy of Inquirer

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Rivers Casino Opening Hotel in Fishtown Redevelopment

Rivers Casino opening all-suite hotel in Fishtown's Battery redevelopment project

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 end of 2023. The Battery is separated from the casino’s 22-acre property by Penn Treaty Park. Hotel guests can make the eight-minute walk to the casino along the Delaware Riverwalk, or complete a five-minute drive utilizing the 24/7 complimentary shuttle and valet parking Rivers plans to offer. 

The hotel will make Rivers the third casino in the Philadelphia region to offer overnight accommodations, a feature that many gaming destinations offer to keep customers at their properties. 

*Article courtesy of Philadelphia Business Journal

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Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

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Painted Bride Redevelopment Still Opposed Despite Revised Plan

A rendering of the proposed development at 230-36 Vine St. shows the restaurant roof deck on the left and the roof deck for residents on the right.

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 residences and one for the restaurant. The roof deck was the reason for developer Atrium Design Group’s appearance in front of the Zoning Board and was also the main point of contention. 

At the hearing, four neighborhood property owners said they worry the primarily residential northern section of Old City would be disrupted by a new restaurant and rooftop dining area. They expressed concerns about noise, late hours, traffic and the size and capacity of the roof decks.

*Article courtesy of Philadelphia Business Journal

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Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

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Developers Prep as 1,700 Apartments Planned for City Ave

City Avenue set to transform with 1,700 new apartments on the way

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 a facelift.

“This is a connected district. It’s going to be City Ave District. It’s not City Ave that’s just a road,” City Avenue District CEO Bryan Fenstermaker said. “People believe it’s just a road. We’re going to try and change that. That’s a big opportunity.”

*Article courtesy of Philadelphia Business Journal

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Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

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Fashion District has a lot at Stake with New 76ers Arena Proposal

Fashion District has a lot at stake as city reviews 76ers arena proposal

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 new $1.3 billion arena on East Market Street would involve California-based Macerich selling a portion of the mall between 10th and 11th streets to the team.

Macerich (NYSE: MAC) is on board with the proposal, as foot traffic has been slow to return to the Fashion District in the wake of the Covid-19 pandemic. As part of the arena plans, Macerich and the Sixers have agreed to partner on the remainder of the mall, which opened in September 2019 following a $420 million redevelopment of the former Gallery. The arena would inject new life into the property at a time when the mall could use it.

*Article courtesy of Philadelphia Business Journal

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Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

Villanova Buys Land for New Conshohocken Boathouse

Villanova pays $11.5M for land to build new Conshohocken boathouse

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” boathouse facility would be used by the Division I women’s rowing team and the men’s club rowing team. The school’s rowing teams had been using a warehouse on the lot.

No timeline or design for the project has been finalized.

*Article courtesy of Philadelphia Business Journal

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Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

Philadelphia to Study Sixers’ proposed Center City Arena

Philadelphia to study impact of Sixers' proposed $1.3B Center City arena

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 Sixers need city approval before moving ahead with the project.

The city’s study is planned to evaluate building design, community impact, urban planning, economic impact and parking and traffic impact.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

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Development Site at Broad and Spring Hits the Market

Philly 'Premier' development site at Broad and Spring Garden hits the market

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 zone that could support high-density development and a six-story, 59-unit apartment building that is 95% occupied.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Callowhill Development Site Sells for $7.9M

Callowhill development site planned for 144 apartments sells for $7.9M

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, just south of the Rail Park, an elevated promenade on a former railway. The site has the full 10-year tax abatement

The site was previously approved to become a co-living building with 77 units operated by German company Medici. The building would have included units with three and four bedrooms. Tenants would rent by the bedroom rather than by the unit.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Pearl Properties Purchases Jewelers’ Row Site

Jewelers Row Site Purchased by Pearl Properties

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. surfaced toward the end of 2022, though the purchase price was not clear at the time.

The Washington Square West property has sat vacant since Fort Washington-based Toll Brothers (NYSE: TOL) knocked down six buildings in the historic district in late 2019 with plans to build 63 condominium units in a 24-story tower. The Preservation Alliance and other groups pushed back on the demolition and preferred saving the historic buildings. Plans were approved for the development and Toll began to take down the structures at the end of 2019.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.