Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: The Center City District plans to cut the ribbon on the newly renovated Dilworth Plaza (now Dilworth Park) adjacent to Philadelphia’s iconic City Hall in a matter of weeks. CCD successfully transformed this previously uninviting (but centrally located) hunk of concrete into an exciting park and destination event space. When it opens in September, the park …
Comcast Keeps Growing; PREIT and Macerich Eye Gallery Redevelopment; Sugarhouse Expands
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: Comcast continues its robust growth in Center City, Philadelphia. Comcast seeks to secure an additional 65,000-75,000 square feet of office space near its John F. Kennedy Boulevard headquarters, which excludes any additional space it may need if its pending acquisition of Time Warner Cable is approved. Comcast’s growth creates tremendous opportunity for Philadelphia by showing the world …
Old City Gets a High-Rise; Equus Favors Offices for Conshohocken; Co-Working Keeps Expanding
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: Brown Hill Development intends to create a rarity in Old City — a high-rise building. Brown Hill plans to construct a 197 foot tall mixed-use building at 205 Race Street. The project will include a mix of apartment units and ground floor retail. The new zoning code allows Brown Hill to proceed with …
Industrial Development Rediscovers Philadelphia; New Hope for Camden; A Popup Park Invades the Delaware Waterfront
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: Just when I thought that Philadelphia could put to rest its “workshop of the world” industrial past, cold cuts giant Dietz and Watson Co. announced a major expansion of its North Philadelphia manufacturing and logistical operations. Dietz and Watson will construct a $50 million, 200,000 square foot trucking and distribution center next to …
Drexel Expands Its Empire; Sleepless in… Philadelphia?; New Opportunity for South Broad Street
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: Drexel University strikes again! Drexel, in partnership with Wexford Science and Technology, LLC, acquired the 14 acre former home of University City High School, The Charles Drew Elementary School, and the Walnut Center in University City. Drexel intends to transform this section of University City into a $1 billion dollar project consisting of a …
New Owners for Iconic Washington Square Buildings; Another New Headquarters For Malvern
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: Keystone Property Group of Bala Cynwyd agreed to acquire Washington Square’s iconic Curtis Center for $133 million from a fund controlled by Apollo Global Real Estate. The circa early 20th century landmark once served as the headquarters of the Curtis Publishing Company, the publisher of Ladies’ Home Journal and The Saturday Evening Post. While the building currently houses offices, retail uses, …
A Hotel for Upper Darby, Big Plans for Market East; and CHOP spurs job growth in Philadelphia
Please enjoy this Memorial Weekend edition of Capstone Law’s Philadelphia Real Estate Trends: For you next vacation don’t forget to consider….. Upper Darby. That’s right, Ashkenazy Acquisition of New York City announced plans to build a 100-room hotel and retail complex on 69th Street in the building that once housed a Sears and the Turf Club. State Representative Margo Davidson sees the project as the key to Upper Darby’s …
New Hotel at Drexel Univ; Toll Brothers Backs Away From Rittenhouse; Hope for the Divine Lorraine
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: Drexel University’s campus continues its robust growth. Hospitality 3 of New York announced plans to construct a 10 story, 212-room hotel on Drexel’s campus at 33rd and Chestnut Streets, based on the company’s successful “The Study” concept located at Yale University. The project — which will include a restaurant, fitness center, and banquet space — …
New Apartment Tower for Chestnut Street; Century 21 Comes to Philadelphia; and Comcast Spurs More Philadelphia Job Growth
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: Philadelphia-based Pearl Properties announced plans to develop a 26-story rental apartment building with retail on the first two floors at the corner of 19th and Chestnut Streets in Center City. Pearl Properties — which will require a zoning variance or a re-zoning ordinance to construct a building of this size on this site — will present …
Reading Viaduct is on Track; Massive Development Planned for Delaware River Waterfront; and New Life for the Union Trust Building
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: The Reading Viaduct project is finally on track after years of speculation and endless fundraising attempts. The project, inspired by New York City’s popular Highline Park, will convert a portion of the decaying Reading Railroad elevated train line into a park with stunning views of the Philadelphia skyline. The project’s supporters hope to further …