Construction
-
Parkway Corporation Rethinks Center City Development Plans Due to High Construction Costs, Interest Rates
Last year, Parkway Corporation CEO Rob Zuritsky shared plans to build a new 31-story luxury apartment tower in Center City. However, high construction costs and rising interest rates led to uncertainty about when to start the project, writes Paul Schwedelson for the Philadelphia Business Journal. As those conditions remain, Parkway is now scaling back those…
-
How Philadelphia Fills Vacant High-Rises Will Affect the Future of Center City for Good
With many high-rises in Philadelphia still vacant after the pandemic prompted many companies to shift to remote or hybrid work, the question remains how to fill that empty space, writes Sandy Smith for Philadelphia Magazine. The way that question is eventually answered is likely to affect Center City forever. According to the data collected by…
-
Greek Real Estate is Developing a New Industrial Warehouse in Northeast Philadelphia
Greek Real Estate Partners is planning to build a new warehouse in Northeast Philadelphia, writes Paul Schwedelson for the Philadelphia Business Journal. This comes two years after the firm bought a 305,706-square-foot industrial building in the area. The plan to build a new industrial building at the 2121 Wheatsheaf Lane space in Northeast Philadelphia is…
-
Studies Are Looking At the Potential Impact of the Proposed New Sixers Arena
It has been more than a year since the Philadelphia 76ers announced its proposal to build its new arena in Center City and many questions still remain, writes Jeff Gammage for The Philadelphia Inquirer. Most of the questions pertain to the economic and community impact the proposed arena would have on the city. Most of…
-
Philadelphia Developer Proposes New Tower On Site Where Toll Brothers Razed Part of Jewelers Row
Philadelphia developer Pearl Properties recently unveiled its plan to construct a soaring housing tower in Jewelers Row on the vacant property created by Toll Brothers for a now abandoned project, writes Jake Blumgart for The Philadelphia Inquirer. The renderings for the planned building were showcased at a neighborhood meeting of the Washington Square West Civic…
-
Philadelphia Developers and Universities Advocate for More Transportation Options Amid Major Development Projects
There are many major development projects taking shape across Philadelphia, and as a result, conversations about transportation have been taking place, writes Paul Schwedelson for Philadelphia Business Journal. Developers and universities are searching for ways to incorporate more transportation options, with increased service and incentives for public transportation, expanded roads, added parking, and more as…
-
The Bellwether District in South Philadelphia Enters First Phase of Construction
It has been over three years since Hilco Redevelopment Partners bought out the former site of the Philadelphia Energy Solutions refinery in South Philadelphia, and plans for its future are now underway, writes Paul Schwedelson for the Philadelphia Business Journal. Hilco Redevelopment Partners had previously announced the construction of the Bellwether District, a new $4…
-
Temple University is Planning to Construct a New Media and Performing Arts Building
Temple University’s Klein College of Media and Communication and Center for the Performing and Cinematic Arts will soon be housed in a single new structure, writes Jake Blumgart for The Philadelphia Inquirer. The new facility will be located at 1830 North Broad Street, on the west side, which currently holds primarily athletic and recreational…
-
Student Organizers Are Voicing Their Opinions on New Sixers Arena Near Chinatown
Since the Philadelphia 76ers announced their intentions to build a new arena on Market Street in Center City last year, many have expressed their feelings for and against the proposal, writes Etta Washburn for Teen Vogue. While local government has been largely for it, with the proposed arena being built just four blocks away from…
-
University City Hub Eyes Being a Breeding Ground for Innovation
Eight months since it was first opened in January 2023, tenants at One uCity Square have high hopes for its future, writes Ryan Mulligan for The Philadelphia Business Journal. The 400,000-square-foot building, which houses Penn Medicine’s Institute for RNA Innovation, has been used to foster interdisciplinary collaboration and scientific breakthroughs. Penn professors and…
-
Fashion District’s Precarious Finances May Be Influencing 76ers’ Push for Speedy Green Light on New Arena
The 76ers’ development company has spent the last year pushing for City Council to give the green light for the team to build a new arena in Center City as soon as possible, write Sean Collins Walsh and Jake Blumgart for The Philadelphia Inquirer. While the development team behind the proposal has not specified why…
-
Work on Roughly $430M I-95 Cap Project Starts Officially with Ceremonial Groundbreaking
Work on the roughly $430 million I-95 cap project officially began on Wednesday with a ceremonial groundbreaking after eight years in preparation, writes Paul Schwedelson for the Philadelphia Business Journal. The I-95 cap and the accompanying Park at Penn’s Landing, which will span from Front Street to the Delaware River, will take four to six…
-
Planned Projects for North Broad Street Continue to Skyrocket
One more development has been added to the growing list of projects planned along North Broad Street, a pivotal site in the economic, social, and political structures of Philadelphia, writes Jordan Levy for Billy Penn at WHYY. The 2 million square feet of commercial and residential projects proposed to be constructed around the North Philadelphia…
-
After Pushback, Developer Presents Scaled-Back Germantown Apartment Project
Following pushback from nearby residents, Huntingdon Valley-based Olympia Holdings is scaling back its plans for an apartment project in Germantown, writes Ryan Mulligan for the Philadelphia Business Journal. The revised plans bring down the number of units from the originally proposed 148 to 125. The overall footprint of the five-story development at 42-68 Church Lane…
-
Ahead of New School Year, University of Pennsylvania Wraps Up Campus Renovations
The University of Pennsylvania is wrapping up the construction projects it started at the end of the spring semester to build and renovate several locations on campus, writes Nitin Seshad for The Daily Pennsylvanian. Renovations to Stouffer College House were completed in August. The project cost $35.3 million and began in May 2022. Improvements include…
-
Abandoned Philadelphia Offices Could Find New Life as Energy-Efficient Apartments
There is currently an abundance of empty office buildings in Philadelphia that are highly environmentally unfriendly, and converting them into affordable housing could be good both from a business and environmental perspective, writes Jake Blumgart for The Philadelphia Inquirer. While a new study found that it would be harder to convert these spaces into apartments…
-
New $400 Million Training Program Will Prepare Pennsylvania Workers for Infrastructure Jobs
Governor Josh Shapiro signed an executive order earlier this week that created a $400 million training program that will prepare up to 10,000 Pennsylvania workers for jobs created by federal infrastructure investments, writes Paul J. Gough for the Philadelphia Business Journal. Grants awarded by the Commonwealth Workforce Transformation Program are designed to provide companies, contractors,…
-
New 100-room Marriott Hotel Coming to Northeast Philadelphia
A new Marriott hotel is being planned for Northeast Philadelphia close to an underutilized shopping center that was once part of the Franklin Mills complex, writes Jake Blumgart for The Philadelphia Inquirer. The Huntingdon Valley-based Sant Properties, which owns the shopping center, is the developer of the 84,703-square-foot, 100-room hotel. “There hasn’t been much interest…
Founding Partners
Advertisement
Affiliate Partners
