October 27, 1995 |
Philadelphia taxpayers stand to benefit in a big way from the glut in empty Center City office space. And even bigger savings might be on the way in a few years. The Rendell administration has a deal to cut its rent by 80 percent at the old INA building, 16th and Arch, in a three-year extension of its lease. The deal could be a prelude to an even bigger one expected next spring - when the city hopes to buy or lease a Center City building to consolidate its rental space, which now costs taxpayers more than $21 million a year.
January 26, 1994 |
The Philadelphia Housing Authority has proposed a new lease for its 80,000 tenants that would require security deposits and fees for late payment of rent while enabling the authority to evict tenants convicted of drug dealing, weapons offenses and other criminal activity. John F. White Jr., PHA's executive director, told the authority board at its regular monthly meeting yesterday that he hoped to have the document ready for a final board vote in April. "Assuming all goes well, it will represent the first time in a very long time that we have an enforceable lease," White said.
September 5, 1993 |
Crushed under stacks of files and crammed into cubbyholes, county court employees have run out of office space. To give them more elbow room, the county commissioners overcame their reservations about landlord Vahan H. Gureghian and voted unanimously Thursday to renew a lease on the Benson Building. Several departments, including the 66-employee, badly cramped Domestic Relations Office, will move there. The lease will cost the county $1.7 million over the next seven years, on a building appraised at about $800,000 in 1985.
June 2, 2012 |
City officials have selected a joint venture of three companies to manage the planning and construction of the multi-billion-dollar expansion of Philadelphia International Airport. CH2M HILL, a Denver-based engineering and construction firm, will be the lead company, and will work with minority-owned companies Delon Hampton & Associates of Washington D.C. and CMTS Inc. of Dallas. The city has agreed to pay the team $25 million for the first four-year term of the project. The project-management team will oversee the complex financial, engineering, design and scheduling elements in preparing for the expansion of the city-owned airport, airport chief executive officer Mark Gale said Thursday.
September 8, 1986 |
The Narberth Post Office is about to receive an eviction notice, appropriately enough, in the mail. "They're going to get a letter telling them they're in default of the lease, and to get out," Peter Stevens, a sales representative for the Coldwell Banker real estate firm, said Friday. On Aug. 31, the Postal Service's lease on the building, at 144 N. Narberth Ave., expired. The post office has been searching for months to find a building with 8,000 square feet. The present building has half that amount of space.
May 28, 1990 |
Kraft Dairy Group has signed a lease for 70,000 square feet for a headquarters office at Seven Penn Center, the former IBM Building at 17th and Market Streets. The group, which makes Sealtest and Breakstone products, signed a 10-year lease valued at $13 million. Kraft plans to move to the building, recently renovated by MSK Associates, from 1880 JFK Blvd. this fall. The new lease makes Seven Penn Center 92 percent leased, said the Binswanger Co. which manages and leases the building.
December 18, 1991
The proposed get-tough lease policy being considered by the Philadelphia Housing Authority board of directors offers a reverse twist on the old saying, "too little, too late. " The proposed policy is "too much too soon" - a well-meaning but over- reaching attempt to reclaim public housing from drug dealers and other punks who are making life miserable for the decent majority of PHA tenants. It's a response to a sweeping mandate on criminal activity spelled out in new regulations from the U.S. Department of Housing and Urban Development, implementing amendments to the National Affordable Housing Act of 1990.
July 3, 1990 |
The 76ers and Spectacor expect to sign a new lease agreement this week. That will leave Spectacor, operator of the Spectrum and parent company of the Flyers, to decide, perhaps within the next few weeks, whether to build a new arena on the current site of JFK Stadium in South Philadelphia or on the Camden waterfront. The location of a new arena is now moot to Sixers owner Harold Katz. For him, a new lease will effectively end a nine-year search for what he feels is an equitable arrangement.
February 11, 2014 |
Has the Gallery's time finally come - again? Thirty-seven years after the Center City mall broke new ground in urban retailing, the Market East shopping center is anything but cutting-edge. It is tired, mismatched to its surroundings, and a drag on the wider Center City boom. Its owner, publicly traded Pennsylvania Real Estate Investment Trust, has promised to reverse that. Just how and when, however, has been a bit hazy. Now, there is increasing evidence that a critical mass is building and that perhaps, as promised by PREIT chief executive officer Joseph Coradino, a transformative project is near.
August 1, 2007 |
Rick Olivieri left his corner of the Reading Terminal Market yesterday without a lease, at times fighting tears, and promising to be behind the grill at Rick's Philly Steaks when the lunch crowds return today. The predicted end of the long-running drama between Olivieri and management of the historic market came and went, as T.S. Eliot said, not with a bang but a whimper. Olivieri's lawyer had sued to avoid eviction, but, as of late yesterday afternoon, there was no hearing and no court order.