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Philly Developer Could Expand Ritz Five Movie Theatre, Add Apartments on Top

Philly Developer Could Expand Ritz Five Movie Theatre, Add Apartments on Top

A Philadelphia developer is in the preliminary stages of a redevelopment project at the Ritz Five movie theatre located at 214 Walnut St. in the Society Hill neighborhood.…

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North Philadelphia Data Center Sells for $65 Million to Carter Validus

North Philadelphia Data Center Sells for $65 Million to Carter Validus

Tampa-based Carter Validus Mission Critical REIT, Inc. has purchased a data center located in the Byberry Industrial Park in the Greater North Philadelphia area.…

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$100 Million Student Residence Breaks Ground Near Temple University

$100 Million Student Residence Breaks Ground Near Temple University

 By Veronica Grecu, Associate Editor The former John Wanamaker School building located at 12th Street and West Montgomery Avenue in North Philadelphia is being reconverted into a mixed-use facility that will serve Temple University students. Though the official groundbreaking ceremony was held last week at the site, the project was…

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JBJ Soul Homes is Philly’s Newest Low-Income Housing

JBJ Soul Homes is Philly’s Newest Low-Income Housing

November 13 was the official ground breaking for a new mixed-use project on a half-acre triangular block located at the intersection of Broad Street, Fairmount and Ridge Avenues in the Francisville neighborhood and close to Philadelphia’s iconic Divine Lorraine building.…

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Penn Medicine to Add New Medical Facility in West Philadelphia

Penn Medicine to Add New Medical Facility in West Philadelphia

Penn Medicine, one of the world's leading academic medical centers, has announced plans to move forward with Phase II of an expansion plan of the Penn Presbyterian Medical Center (PPMC) campus located in the University City section of West Philadelphia.…

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Work Beginning on $79 Million Upscale Residential Complex in Conshohocken

Work Beginning on $79 Million Upscale Residential Complex in Conshohocken

A new upscale apartment community called The Courts at Spring Mill Station is coming to Conshohocken, a suburb of Philadelphia. Almost one year after announcing the project, real estate investment trust Home Properties broke ground last week on the $79 million complex during an official ceremony held onsite, at the…

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Philadelphia Navy Yard Adds New Marriott Signature Hotel

Philadelphia Navy Yard Adds New Marriott Signature Hotel

Last week development company Ensemble Hotel Partners, LLC celebrated the groundbreaking of its first Navy Yard Corporate Center project: a new Courtyard by Marriott hotel located at the corner of Rouse Boulevard and Intrepid Avenue.…

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Work Starts on 149-Unit Multifamily Development; Upscale Project in South Philly to Follow Soon

Work Starts on 149-Unit Multifamily Development; Upscale Project in South Philly to Follow Soon

Mayor Michael Nutter, Philadelphia City Councilman Curtis Jones, Jr. and representatives of development company J.G. Petrucci broke ground last week on a new transit-oriented residential community located at 4862 Umbria Street, right next to SEPTA’s Ivy Ridge Rail Station.…

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NewCourtland LIFE Center Underway for North Philadelphia Seniors

NewCourtland LIFE Center Underway for North Philadelphia Seniors

n underutilized brownfield in North Philadelphia is being redeveloped by NewCourtland Elder Services, Inc., a non-profit organization providing community services, into a $5.6 million mixed-use complex for seniors. The event was marked by a groundbreaking ceremony held at the site attended by city officials and local representatives.…

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Madison Apartment Group Breaks Ground on Luxury M-F Development in Bucks County

Madison Apartment Group Breaks Ground on Luxury M-F Development in Bucks County

By Veronica Grecu, Associate Editor Madison Apartment Group, the multifamily operating arm of Philadelphia-based BPG Properties, Ltd., recently broke ground on an apartment community called Madison New Britain and located in Chalfont, PA, in the heart of historic Bucks County. Madison New Britain is the first multifamily rental community to…

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First Affordable Housing for Gay Seniors to Break Ground Next Month

First Affordable Housing for Gay Seniors to Break Ground Next Month

By Veronica Grecu, Associate Editor A $20 million affordable housing community for elderly gay seniors will break ground in October thanks to a grant from the Pennsylvania Housing Finance Authority. According to The Philadelphia Gay News, the $12 million low-income tax credits were purchased by Wells Fargo Bank, while the…

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Chestnut Hill Tower Changes Hands for $16.75 M; JV Announces Upscale Multifamily Project in Plymouth Meeting

Chestnut Hill Tower Changes Hands for $16.75 M; JV Announces Upscale Multifamily Project in Plymouth Meeting

By Veronica Grecu, Associate Editor Gebroe-Hammer Associates, a private real estate investment firm based in Livingston, NJ, has closed the sale of an 18-story residential building located at 7600 Stenton Avenue, in the upscale Chestnut Hill neighborhood. The seller, an undisclosed out-of-state private owner, and the buyer, a Gebroe-Hammer client…

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