Comcast Spectacor has revealed its ambitious vision for the South Philadelphia Sports Complex, starting with a $2.5 billion plan set to transform the area by 2028. The initial phase involves a $12 million renovation to Xfinity Live!, the construction of a 5,500-seat concert venue, a 250-key hotel, and various dining and retail establishments. The proposed… Read more »
E. Kahn Development recently acquired 15.7 acres of undeveloped land in Chester County, specifically at 1401 Phoenixville Pike in West Whiteland Township. The Malvern-based developer intends to construct approximately 150,000 square feet of industrial space on the site. The purchase price for the land was $3.1 million, and the seller was Johnson Matthey, a company… Read more »
Bart Blatstein’s Tower Investments has acquired Piers 38 and 40 along the Delaware River along with the land in between the two structures for $18 million. The properties at 775 S. Christopher Columbus Ave. include two buildings on Piers 38 and 40 that each total 180,200 square feet and a 120,000-square-foot surface lot on Pier… Read more »
Alterra Property Group wants to bring 352 apartment units to the intersection of 42nd and Market Streets, on the edge of West Philadelphia’s University City. The six-story modular building would include 22,511 square feet of retail space, a roof deck, amenity space, and 110 parking spaces. “We think there’s a lot of demand for mid-size… Read more »
Lehigh Valley Health Network has acquired property in western Montgomery County where it is in the early planning stages to build a “neighborhood” hospital, marking its latest push into the Philadelphia region. The project is planned along 21 acres acquired earlier this year by the Allentown-based health system in Gilbertsville, Douglass Township, for $7.6 million,… 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 »
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 »
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 »
The city is again seeking developers to revitalize the former Family Court building on the Benjamin Franklin Parkway after talks with the Peebles Corp. about turning the property into an upscale hotel ended last year. The Philadelphia Industrial Development Corp. on Friday issued a request for qualifications soliciting interest in redeveloping the nearly 250,000-square-foot building… Read more »
