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 …
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 — …
Restructuring Phila.’s Business Taxes; Hope for Vacant Land; and Improving Independence Mall
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: The Philadelphia City Council Finance Committee approved a bill that, if ultimately adopted, would substantially restructure the city’s business tax system. The bill intends to eliminate the net income portion of the dreaded Business Income and Receipts Tax in favor of increasing the gross receipts tax over a five-year period. According to its …