May 29, 2015 |
Investment manager Franklin Square Capital Partners has applied for a $7.5 million grant to build a hotel at Philadelphia's Navy Yard business campus, according to a state report. The property, described as a "luxury boutique hotel," would feature 150 guest rooms, according to the list of applicants to the Redevelopment Capital Assistance Program posted Wednesday on the state's website. No other details, including the prospective hotel's operator and total budget, were disclosed.
May 14, 2015 |
Behind the scenes at the Navy Yard, with its new corporate headquarters and restored 70-year-old buildings, another transformation is taking place that is largely invisible to the public, but that could have far-reaching implications. Philadelphia Industrial Development Corp., the agency redeveloping the Navy Yard, is installing a "smart-grid" system on the 1,200-acre campus in South Philadelphia. PIDC envisions constructing an interconnected network of renewable power sources and storage devices in a self-supporting "community" system.
May 1, 2015
THE FIRST TIME I did the Broad Street Run, I did it with a bottle of Red Stripe in my hand. I should mention that, by "did," I mean that I lazily watched from a lawn chair outside the old Daily News building, at Broad and Callowhill, and helpfully shared a swig or two with passing runners. That was about 20 years ago, when I was more likely to moonwalk - like, on the actual moon - than run 10 miles down Broad. It wasn't that I was out of shape (I was); it was that running seemed like a needless expenditure of energy that should be otherwise devoted to napping.
April 20, 2015 |
Have you ever dreamed of living seaside at the Navy Yard, the vast onetime shipbuilding hub that's emerged as a hip urban office campus? Soon, you may be able to rent homes in the shadow of mothballed naval ships. The Philadelphia Industrial Development Corp. is actively negotiating deed restrictions with the U.S. Navy to build housing at Philadelphia's Navy Yard for the first time. John Grady, president of the PIDC, said the agency hopes talks will lead to opening the campus to developer pitches within a year.
April 9, 2015 |
Lux Products Corp., a privately held HVAC controls company formerly based in Mount Laurel, has relocated its headquarters to the Philadelphia Navy Yard. About 17 employees made the move, said Rob Munin, Lux president. Lux, founded in 1914 and best known for the ubiquitous spring-wound kitchen timers popular in the 1950s and 1960s, is now primarily focused on selling thermostats, which have become increasingly interconnected high-tech devices. Munin said the company neither received nor sought a tax break to move to Philadelphia.
March 7, 2015 |
A Navy Yard energy-storage firm expects to step up to a bigger stage after its acquisition by renewable-power project developer SunEdison Inc. Solar Grid Storage L.L.C., a start-up formed in 2011 and funded partly with $250,000 in venture capital from the Ben Franklin Technology Partnership, on Thursday announced its sale to SunEdison for an undisclosed sum. Solar Grid has four energy-storage projects, including one that is part of Pennsylvania State...
February 27, 2015 |
Chestnut Street Philly Bagels (1705 Chestnut St., 215-299-9920), in the former Tokyo Lunch Box across from the new Forever 21 store, is a brand-new offshoot of the popular South Street Philly Bagels, on Third Street south of South Street. Aaron Wagner, whose family of New York émigrés also owns the Bagel Spot in Cherry Hill, has brought in Jonathan Yamini as his business partner. For her restaurant-ownership debut, Sarah Levine has realized a longtime dream by setting up the quaint Luna Cafe (317 Market St., 215-309-3140)
February 12, 2015 |
With 600 stocky, blue-and-white bicycles, designed to be easy to use and hard to steal, Philadelphia will launch an ambitious bike-sharing system in spring in at least 60 locations, from Temple University to the Navy Yard and from the Delaware River to University City. The program, dubbed Indego because of an $8.5 million contribution from Independence Blue Cross, will allow riders to use credit cards, cash, or member cards to rent bikes 24 hours a day. "You can take a short trip from Point A to Point B or back to Point A, if that's what you want to do," Mayor Nutter said Tuesday.
February 8, 2015 |
Members of seven unions that build ships at Aker Philadelphia Shipyard have approved a contract providing a 10 percent raise over four years. The contract took effect Feb. 1 and expires Jan. 31, 2019. About 350 laborers, ironworkers, painters, boilermakers, plumbers, operating engineers, and electricians voted Tuesday, said Louis Agre, president of the Philadelphia Metal Trades Council. The vote tally was not disclosed. Mike Giantomaso, Aker Shipyard vice president of human resources, said, "We are pleased to have successfully ratified this agreement and very proud to continue our partnership.
December 5, 2014 |
The drugmaker GlaxoSmithKline said Wednesday that it would cut hundreds of jobs in the United States, with the Philadelphia region gaining and losing positions, as it begins a three-year process of eliminating $1.57 billion in annual expenses. London-based GSK will significantly reduce its research and development operation in North Carolina's Research Triangle Park, moving some of those positions and people to facilities in Upper Merion and Upper Providence, Montgomery County. However, some Philadelphia-area employees in commercial divisions will be laid off, with departures starting early in 2015.