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 »
Two years ago, Philadelphia initiated a search for a partner to transform 40 acres of vacant riverfront land in Southwest Philadelphia into a modern biotechnology manufacturing campus. The Philadelphia Industrial Development Corporation (PIDC), a public-private economic development organization spearheading the initiative, is now evaluating proposals from a select group of developers. PIDC believes this project… Read more »
Friday’s sudden announcement of the University of the Arts’ closure this week has cast uncertainty over the future of its real estate holdings in and around South Broad Street. Center City stakeholders remain hopeful about the properties, with local developers and nonprofit leaders expressing optimism that the UArts buildings could be repurposed—potentially as a blend… Read more »
The Philadelphia Business Journal’s updated Crane Watch map provides a visual overview of development projects in the region, including those proposed, under construction, or recently completed. Over $1 billion in new investments have been announced or initiated since the last update, spanning industrial projects, recreational spaces, and numerous residential units. Despite challenges in financing, large-scale… Read more »
A bold $60 million proposal aims to construct a two-deck structure featuring a public pool, beach, and entertainment venue on the western bank of the Schuylkill River near 30th Street Station. Dubbed the West Philadelphia Waterfront project, it serves as a link between Center City and the rapidly growing University City area, which is experiencing… Read more »
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 »
The City of Philadelphia acquires the former strip club property at 3001 Castor Ave. in Port Richmond for $7.1 million, as indicated by public records. Situated in an industrial area along the Delaware River, between I-95 and the Port of Philadelphia’s Tioga Marine Terminal, the 3.2-acre lot previously housed The Penthouse Club. The sale reflects… Read more »
Comcast Spectacor unveils plans for a substantial mixed-use development at the South Philadelphia Sports Complex, aiming to optimize underutilized land. Amid potential changes at the Wells Fargo Center, the proposal includes 500,000 sq ft of offices, 460,000 sq ft of retail, a 5,500-seat concert venue, 2,000 residential units, 500 hotel rooms, and 10,000 parking spaces,… Read more »
