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BUSINESS
August 1, 2014 | By Erin Arvedlund, Inquirer Staff Writer
Ever since discount designer-apparel department store Century 21 signed on in April as an anchor tenant in the Gallery at Market East, retail analysts have speculated what else might move in. Among the names dropped: "fast fashion" brands such as Uniqlo and Forever 21. Maybe a high-end movie theater. Now that Gallery owner Pennsylvania Real Estate Investment Trust (PREIT) has struck a partnership with retail developer Macerich Co. - a joint venture to redevelop the struggling Center City shopping mall - industry observers have a better clue.
BUSINESS
July 9, 2014 | By Erin Arvedlund, Inquirer Staff Writer
A nine-story affordable housing project will break ground at 810 Arch St. in September, thanks to an innovative partnership among nonprofit developers and the city to improve the blighted block. Sister Mary Scullion's Project HOME and the Philadelphia Chinatown Development Corp. (PCDC) will build the $23.5 million apartment complex on an empty lot on the south side of Arch Street. Expected to be completed by late 2015, the complex will provide 94 efficiency apartments for lower-income rental tenants ranging in age from seniors to children aging out of foster care.
NEWS
May 31, 2014 | By Jennifer Lin, Inquirer Staff Writer
Three years after the Foxwoods Casino group lost its license to open a Philadelphia gaming hall, the former partners in the project are trying to retrieve their $50 million licensing fee in federal bankruptcy court. The Foxwoods group - also known as Philadelphia Entertainment & Development Partners (PEDP) - filed a complaint Thursday against the commonwealth and the Pennsylvania Department of Revenue. The investor group alleges that Pennsylvania's refusal to refund its money was "an unconstitutional taking" and "unjust enrichment.
NEWS
May 30, 2014 | BY MATT NESTOR, Daily News Staff Writer nestorm@phillynews.com, 215-854-5906
AN INSTRUMENTAL string arrangement of Coldplay's "Clocks" played through the room and Rachel Federman-Morales began directing the troupe of 10 dancers, as she has every Tuesday evening since early October. Aligned across from one another, the dancers' eyes locked. They had just completed a long school day and now they had one more rehearsal before the big performance, scheduled for this morning in Drexel University's Mandell Theater at MacAlister Hall. Like any dance troupe, this one is composed of unique individuals with a common goal.
NEWS
May 21, 2014 | By Michaelle Bond, Inquirer Staff Writer
Chester County and the Yongchuan district in China are officially friends. County Commissioner Terence Farrell and the mayor of the Chinese district signed a friendship agreement on Friday as a promise to develop cultural and business partnerships. Farrell said the agreement could pave the way for job creation in Chester County, student exchanges, and selling Chester County livestock in China. "It was a big deal," Farrell wrote in an e-mail, "and the Chinese officials pulled out all the stops to show its importance to them.
NEWS
May 14, 2014 | BY JOHN F. MORRISON, Daily News Staff Writer morrisj@phillynews.com, 215-854-5573
THE CHAIRMAN of Ballard Spahr, one of Philadelphia's most prominent law firms, was at a loss for words. How to describe Rick Ballard and his impact, not only on the firm but on the community, his family, his friends and the nation? Speaking yesterday while still stunned by Rick's death on Sunday, Mark Stewart could only say: "I could sit here for hours and still not have the words to adequately describe Rick's importance to the firm, his achievements as a lawyer and his impact on those of us who were lucky enough to know him. "Rick was what every lawyer should want to be: fiercely smart, caring, a gentleman.
BUSINESS
May 1, 2014 | By Chris Hepp, Inquirer Staff Writer
For Ken Sylvester, the road to being a tire mogul started under the hood. Sylvester, president of United Tire & Service Co., began his career as an auto mechanic. A switch to tires, and a quarter-century later, Sylvester finds himself leading a David vs. Goliath effort to keep local dealers like himself on equal footing against the Pep Boys and Mr. Tires of the world. "There are a lot of large tire chains coming into the market and buying up as many of the mom-and-pop shops as they can," said Sylvester, who started in the business, with a partner, by owning stores in Ambler and Bustleton.
NEWS
April 24, 2014 | By Julie Xie, Inquirer Staff Writer
David Kittner, 95, of Jenkintown, a lawyer and longtime partner at Blank Rome L.L.P., died Friday, April 18, at his home. A native of North Carolina, he graduated from Weldon (N.C.) High School in 1934 and went on to earn a business degree from the University of North Carolina in 1939 and a law degree from the University of Pennsylvania in 1951. Between the two degrees, he was an accountant and served a short time in the Army at the Presidio in San Francisco. Mr. Kittner joined Philadelphia-based Blank Rome in 1956.
BUSINESS
April 5, 2014 | By Harold Brubaker, Inquirer Staff Writer
StoneMor Partners L.P., a Levittown owner of cemeteries and funeral homes, said it had signed definitive agreements to buy nine funeral homes, 12 cemeteries and two crematories from Service Corp. International for $53.8 million in cash. The sale includes three cemeteries in the Philadelphia area: George Washington Memorial Park in Plymouth Meeting, Sunset Memorial Park in Feasterville, and Hillside Cemetery in Roslyn. Also included in the deal locally are two Kirk & Nice funeral facilities at George Washington and Sunset.
NEWS
April 3, 2014 | By Jennifer Lin, Inquirer Staff Writer
PHILADELPHIA The partnership behind the failed Foxwoods Casino project in South Philadelphia filed Monday for bankruptcy court protection, citing claims of $23.6 million from 14 creditors. In addition, Citizens Bank, the largest creditor, is owed an unspecified amount, according to the court petition. People familiar with the situation say the bank lent the project about $75 million. The partnership last week sold its largest asset, a vacant 16.5-acre lot on South Columbus Boulevard between Tasker and Reed Streets.
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