Real Estate
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Upper Darby School District Closes on Shuttered Hospital Purchase
The Upper Darby School District closed a deal Friday with Prospect Medical Holdings to purchase the former Delaware County Memorial Hospital and two other structures on the Drexel Hill property for $600,000, writes John George for the Philadelphia Business Journal. The Crozer Health hospital has been closed since November 2022. Prospect Medical, owner of Crozer…
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House of the Week: Luxurious Condominium in Society Hill
A luxurious condominium with two bedrooms and two bathrooms spanning 1,531 square feet is available for sale in Society Hill. This sophisticated and sun-filled residence perfectly combines elegance with modern comfort. Refined details include soaring ten-foot ceilings with recessed designer lighting, rich wide-plank hardwood floors, solid-core doors, wide baseboards, and oversized windows with custom electric…
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Hankin Group to Add 373 New Apartments in Chester County Following Strong Demand
Amid strong rental demand, the Hankin Group is adding 373 new apartments to three existing projects in Chester County by the end of next year, writes Ryan Mulligan for the Philadelphia Business Journal. The developer is now executing phase two of its Downingtown and Exton projects, representing a more than $150 million investment. Exton-based Hankin…
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Philadelphia Region Is Prime Market for Mansions
The Philadelphia region ranks among the top markets in the country for mansions, with 32,400 properties located throughout the area, according to a new analysis by Zillow, writes Michaelle Bond for The Philadelphia Inquirer. Zillow defines mansions as homes that have 5,000 square feet or more of finished living space. In the region, the median…
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Union League to Add Sleek New Ballroom at Liberty Hill in Lafayette Hill
The Union League of Philadelphia is planning a major addition to its Liberty Hill golf course in Lafayette Hill, writes Ryan Mulligan for the Philadelphia Business Journal. The new Liberty Ballroom will feature floor-to-ceiling windows, two levels of event space, and room for up to 450 guests. Designed for weddings, galas, and corporate events, it…
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Comcast and 76ers Team Up to Purchase Market East Buildings, Eyes Revitalizing Struggling Corridor
Comcast and the Philadelphia 76ers are no strangers to working together, and their latest partnership is part of an effort to revitalize the struggling Market East corridor in Center City, writes Aaron Moselle for WHYY. The two entities recently got together to acquire the 920-938 Market Street and 1000-1024 Market Street properties, respectively. According to…
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Home Sellers Cut Prices on Roughly Quarter of June Listings in Philadelphia Region
Home sellers in the Philadelphia region lowered prices on about 24 percent of listings in June, during a time when the market is typically busy in the spring, writes Michaelle Bond for The Philadelphia Inquirer. According to Zillow, that is an increase from about 21 percent compared to the same time last year. While more…
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Former Elementary School Property in Levittown Acquired by Pulte Homes, with Plans for 66 Townhomes
The former Eisenhower Elementary School site in Levittown has found its new owner in Pulte Homes, which plans to build 66 townhomes on the 14-acre property, writes Paul Schwedelson for the Philadelphia Business Journal. The developer paid $4.1 million to CIBC Foundation for the site. Over the past decade, the former elementary school has been…
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Local Developer Carl Dranoff, Dwight City Group Join Forces to Repurpose UArts’ Anderson Hall
Prominent Philadelphia developer Carl Dranoff is partnering with Dwight City Group to convert the former University of the Arts’ Anderson Hall into apartments as an investor, writes Ryan Mulligan for the Philadelphia Business Journal. The CEO of Dranoff Properties also contributed the adjacent parking garage he owns to the project. Anderson Hall, located at 333…
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New 384-Unit Apartment Building Proposed for Manayunk
Developer GMH Communities has proposed a new 384-unit apartment building in Manayunk, writes Ryan Mulligan for the Philadelphia Business Journal. The proposed transit-oriented building would be across Ivy Ridge station and at the site of a beer distributor in Manayunk. The property received conditional zoning permits to build the building with 380 parking spaces, with…
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House of the Week: Stunning and Historic Art Deco in Fairmount
A stunning Art Deco home set on a lovely 0.38-acre lot with nine bedrooms and nine bathrooms is available for sale in the Art Museum area. The historic Bergdoll Mansion, a celebrated Philadelphia landmark for over 100 years, sits majestically atop a hill, exuding elegance and timeless sophistication. Originally commissioned in 1856 by the Kemble…
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Cheap Rents Disappearing Throughout Pennsylvania As Luxury Rentals Rise
Cheap rents are becoming increasingly scarce in Pennsylvania while the number of luxury rentals continues to rapidly rise, write Mike D’Onofrio and Sami Sparber for AXIOS. This is a growing affordability issue in a state where buying a home is impossible for many due to the high prices and rising mortgage rates. Pennsylvania has recorded…
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PhilaPort Completes Trio of Acquisitions, Purchasing Three-Acre Parcel for $5.7 Million
The Port of Philadelphia completed a trio of acquisitions by purchasing a three-acre parcel on Columbus Boulevard for $5.7 million, part of its $2 billion strategic plan aimed at broad expansion, writes Ryan Mulligan for the Philadelphia Business Journal. PhilaPort added the parcel at 2906 Christopher Columbus Boulevard to the previously acquired adjoining properties at…
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BET Investments Proposes New Mixed-Use Town Center and Community in Plymouth Meeting
BET Investments has submitted sketch plans to transform a decades-old office park in Plymouth Meeting into a vibrant mixed-use community, the company announced in a press release. The Conshohocken Ridge Corporate Center would become Plymouth Crossing, a modern live-work-play destination featuring 200 apartments, 20,000 square feet of retail, and a full-service grocery store. The existing…
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Destroyed Levittown Lanes Bowling Alley Set to Become Apartment Building
Levittown Lanes, a family-run bowling alley destroyed three years ago in a three-alarm fire, is now set to become an apartment complex, writes JD Mullane for the Bucks County Courier Times. Falls Township supervisors gave the green light for a three-story, 24-unit apartment complex to be constructed at 8815 New Falls Road. The one- and…
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Conshohocken’s Idle Steel Mill Property Draws a Bidding War for ‘Generational’ Opportunity
Cleveland-Cliffs, Conshohocken’s former steel mill, is up for grabs and drawing a lot of attention, writes Paul Schwedelson for Philadelphia Business Journal. The riverfront property has tapped real estate brokerage Binswanger to sell the idled 66-acre plant tucked between I-76 and the Blue Route. Though currently zoned for industrial use, the site could transform into…
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Comfortable Living Becomes a Dream as Bucks County Rents Skyrocket
In Bucks County, renters must earn $34.65 an hour to comfortably afford a two-bedroom apartment, more than double the average renter’s wage of $16.53 an hour, writes Chris Ullery for the Bucks County Courier Times. The 2025 Out of Reach Report by the National Low Income Housing Coalition uses data from the U.S. Census Bureau,…
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West Philadelphia Church That Unknowingly Sold Rare Tiffany Windows Heads for Court-Ordered Sale
The West Philadelphia church that unknowingly sold off valuable Tiffany windows for a fraction of their worth is now facing a court-ordered sale, as the bank takes action to collect on the over $2 million currently owed by the congregation, write Zoe Greenberg and Ryan W. Briggs for The Philadelphia Inquirer. The listing, describing the…
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