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NEWS
March 20, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
In a sweeping $500 million-plus project aimed at finally upgrading Philadelphia's worn downtown retail district and spreading Center City's apartment revival east of Broad Street, a development group says it plans to demolish a modest block of stores on Market Street between 11th and 12th - and eventually level or renovate the rest of the block down to Chestnut Street - in favor of a new retail/residential complex. Developers of the complex, to be called East Market, are two Philadelphia concerns, backed by Washington and New York firms.
NEWS
August 28, 2014 | BY STEPHANIE FARR & JENNY DeHUFF, Daily News Staff Writer farrs@phillynews.com, 215-854-4225
TODAY, THE CHILDREN will be the pied pipers - so put aside your worries and cares and follow the Taney Dragons as they headline a parade through the city and kick off tonight's Phillies game at Citizens Bank Park. A 4-plus mile parade featuring the Dragons, who placed third in the country at the Little League World Series in Williamsport last week, will begin at 2 p.m. at 20th and Market streets in Center City. The parade will go east on Market Street around the southwest corner of City Hall to South Broad Street.
NEWS
March 9, 2015 | By Inga Saffron, Inquirer Architecture Critic
As the Inquirer's architecture critic, I often receive e-mails seeking information about this or that structure. No building has prompted more inquiries over the years than a mysterious Market Street relic that resembles a cresting ocean wave. For many years, I also wondered what the peculiar, blank-faced behemoth at 1020 Market St. was used for. Because it has no windows, I thought it might have started life as a movie theater. It wasn't until 2013, when the building made the Preservation Alliance's endangered properties list, that I discovered its impressive pedigree.
BUSINESS
December 18, 2014 | By Erin Arvedlund, Inquirer Staff Writer
Local real estate firm Arden Group, founded by Craig Spencer, on Tuesday sold the 19-story Center City property 1635 Market Street to New York real estate investment firm Nightingale Properties, for an undisclosed price. Nightingale's CEO, Elie Schwartz, has committed $5 million to renovations, starting immediately. Real estate agents with CBRE in Philadelphia, Kevin Maloney, Mark Adzick, George Cauffman, and Joe Wolff, will market the property. "This is an exciting opportunity for this building.
BUSINESS
April 25, 2014 | By Chris Hepp, Inquirer Staff Writer
Pennsylvania Real Estate Investment Trust, which owns the Gallery at Market East, announced Wednesday that Century 21 Department Stores will anchor the long-anticipated redevelopment of the sprawling Center City retail complex. In recent weeks, the New York-based discount-apparel retailer had been rumored to be a major player in the refurbishing of the struggling mall, but the news was made official in a curt mention during PREIT's quarterly earnings report Wednesday. Century 21 describes itself as offering designer clothing for men, women, and children, as well as cosmetics, handbags, shoes, lingerie, housewares, luggage, and gifts.
BUSINESS
May 17, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
The investors backing East Market, a proposed $500 million redevelopment of Market, Ludlow, and Chestnut Streets between 11th and 12th Streets in Center City, have sketched out the first stage of development: two floors of stores topped by 322 apartments rising to 17 stories. "We're going to create this great place that connects all these neighborhoods - the Convention Center and the hotels to Midtown Village, and City Hall and the office towers to the historic district," said Daniel Killinger, who heads the development arm of Washington-based National Real Estate Advisors, East Market's union-backed lead investor.
NEWS
December 10, 2013 | By Julie Zauzmer, Inquirer Staff Writer
PHILADELPHIA The developers who bought the Dow Chemical Co. Building on Independence Mall in October say they plan to spend $20 million on a renovation that will include a 110-space parking garage and a restaurant with outdoor seating. Three companies - Keystone Property Group of Bala Cynwyd, Mack-Cali Realty Corp., and parking lot developer Parkway Corp. - jointly bought the building at Sixth and Market Streets from Dow for $45 million. Dow will lease nearly 200,000 square feet there for its headquarters, Keystone president Bill Glazer said.
NEWS
June 11, 2013 | BY JOHN MORITZ, Daily News Staff Writer moritzj@phillynews.com, 215-854-5938
Click here to see an interactive graphic showing what went wrong in the Market Street building collapse. BEFORE the collapse of the Market Street building that left six people dead on Wednesday, Carl Mason had never heard of Griffin Campbell Construction, he said. "They're cowboys," said Mason, president and owner of Central Salvage Co. Inc., one of the city's major demolition contractors. He explained that while unqualified contractors have always been around, he has seen their numbers grow amid the recent economic downturn.
NEWS
June 9, 2013 | By Paul Nussbaum and Bob Warner, Inquirer Staff Writers
Mayor Nutter apologized Friday for the deadly collapse of a building under demolition, and announced standards and enforcement actions designed to prevent similar tragedies. Promising during an afternoon City Hall news conference to "find out what went wrong . . . and hold those responsible accountable," Nutter said the new rules would require better inspections of demolition sites and quicker action to shut down shoddy work. Despite citizen complaints in the weeks before the building collapse at 22d and Market Streets on Wednesday that killed six people and injured 14, city building inspectors did not visit the site while the building was being demolished.
BUSINESS
December 18, 2014 | By Jeff Gelles, Inquirer Staff Writer
Can the Schuylkill ever play a role like the Chicago River or Paris' Seine - a source of beauty and vitality that unites riverside neighborhoods like Center City and University City rather than dividing them? It's a decades-old dream, but key pieces are finally falling into place, according to civic leaders and developers who joined a panel discussion Tuesday at the Union League sponsored by the Central Philadelphia Development Corp. On both sides of the river, new projects such as Brandywine Realty Trust's 47-story FMC Tower at 30th and Walnut Streets and PMC Property Group's million-square-foot complex planned at 2400 Market St. are paying closer attention than their predecessors to the streetscape and river.
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