Philadelphia
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.
94-Unit Residential Building to Rise on Empty Lot at 810 Arch Street
With the grand opening of the JBJ Soul Homes not too far in the past, a new affordable housing complex backed by Project H.O.M.E. is set to break ground this September.
Distressed Norris Apartments Housing Complex in North Philadelphia Receives $30 Million Revitalization Grant
Four communities that are part of the “Choice Neighborhoods Initiative” kicked off July on a strong note. The U.S. Department of Housing and Urban Development (HUD) announced this week that it has awarded a combined $119.7 million to redevelop severely-distressed neighborhoods in Columbus, OH, Norwalk, CT, and Pittsburgh and Philadelphia in Pennsylvania.
Bon Jovi’s JBJ Soul Homes Project Officially Opens in Philadelphia, Receives ULI Award for Excellence
JBJ Soul Homes, one of the most advertised housing projects in Philadelphia celebrated its grand opening earlier this spring. Located on a 0.5-acre triangular block in the neighborhood of Francisville, the complex was backed by musician Jon Bon Jovi’s Project H.O.M.E. program that offers subsidized supportive housing for low-income and formerly homeless individuals and families.