Philadelphia
Drexel Launches RFP for Revolutionary Innovation Neighborhood in University City
As city authorities across the country try to boost business investment and encourage companies to relocate or consolidate their local footprint, a new economic development concept is taking shape. It’s called “innovation district” and it promotes the exact opposite idea of the Silicon Valley office park model: instead of having an isolated corporate campus located outside the city, local authorities—along with universities or big employers—are now looking to revitalize neglected areas within city limits and turn them into veritable neighborhoods where professionals can live and work.
Burlington City Waterfront Revitalization to Start with 183-Unit Residential Community
Burlington City’s bleak waterfront is set for a major transformation as the Common Council recently unveiled plans for a new residential development near the Delaware River in the city’s historic district.
Keystone Unveils Updated Plans for $200 Million Mixed-Use Project in Conshohocken
The $200 million mixed-use project that Keystone Property Group is looking to build in Conshohocken is moving forward as the developer recently presented updated details for the mega-development and announced that architecture and consulting firm Gensler will lead the planning and design of the project.
Harrison Street Buys Seniors Housing Portfolio for $520M
Harrison Street Real Estate Capital has completed its acquisition of seniors housing properties located in the Northeast.
Revel owners fought to shut down early, and what to do about new A.C. eyesores
f the owners of the Revel Casino Hotel had it their way, they would have closed the facility on Monday.
Construction Starts at Panda Power Funds’ Second 829-MW Power Plant in Pennsylvania
Local and state officials last week joined Dallas-based private equity firm Panda Power Funds and representatives of Gemma Power Systems and Siemens Energy, Inc. to celebrate the official start of construction at the 829-megawatt Patriot Generating Station located near Williamsport, the largest city in Lycoming County.
Brandywine Shopping Center in Glen Mills to Include 140,000 Sq. Ft. Wegmans Store
The recent sale of a large parcel of land on Route 202 and the Route 1 loop and southwest of the intersection of Routes 1 and 202 in Glen Mills, Pa. unveiled Wegmans’ big plans for Delaware County.
PREIT, Macerich $107 Million Investment to Redevelop The Gallery
The Gallery at Market East, one of Philadelphia’s largest urban malls that is located in the heart of the city, is about to get a major makeover. Pennsylvania Real Estate Investment Trust (PREIT), which owns the 1.4 million-square-foot property, announced this week a joint venture with Macerich to revamp the bleak mall into the city’s only multi-use property that will offer accessible luxury retailing in the Center City area.
SugarHouse Casino Kicks Off $164 Million Expansion Project
Almost four years after it celebrated its grand opening, the first casino to operate in Philadelphia broke ground on a long-planned $164 million expansion project that is expected to generate hundreds of new jobs and millions in economic benefits for the city.
vXchnge to Open New Data Center at 1500 Spring Garden Street
With Philadelphia being one of the densest cities in the US according to official data, the demand for data centers and interconnection services is on the rise as well. As a result, many data center-oriented companies are choosing Philadelphia in an attempt to meet the growing demand of for colocation facilities.