March 20, 1986 |
A contract for a major residential and commercial development on 2.5 acres at 34th and Chestnut Streets in West Philadelphia was awarded by the Redevelopment Authority yesterday to a partnership that includes the University of Pennsylvania. The project, to be called Chestnut Commons, will eventually include 450 one- and two-bedroom apartments, 28,000 square feet of retail space and a 368-space underground garage. The project will consist of three tower buildings and will cost $60 million, according to Daniel J. Keating, whose Villanova construction firm, Danico Inc., is one of the partners.
April 4, 2012 |
Mayor Nutter is "leaning toward" signing a bill that would exempt investment funds and their general partners (big investors) from the city's 6.5 percent business tax on profits, says his spokesman, Mark McDonald. The measure, promoted by Councilman Bill Green and his allies, passed City Council, 16-1, last month, with Councilman Curtis Jones dissenting. Green predicted that, once the measure passed, venture, buyout and real estate funds would be more likely to fill vacant Center City or new University City office space, instead of locating in Boston, New York, Greenwich, Princeton, or Radnor.
September 1, 1990 |
Bret Saberhagen, two-time Cy Young Award winner for the Kansas City Royals, and former Phillies pitcher Dave Rucker defaulted on 1986 loans in connection with their investments in a New Jersey partnership, according to civil complaints filed by Meritor Savings Bank of Philadelphia. Saberhagen and Rucker were among defendants named in six lawsuits filed Monday in U.S. District Court in Camden and two other suits filed in Superior Court in Camden in connection with investments in an Iselin, N.J., limited partnership called Jockey Club Associates.
September 7, 1989 |
Francis V. Mulcahy, chairman of the besieged Delaware County Industrial Development Authority, has resigned. His action followed the authority's decision to conduct an internal audit. Mulcahy's letter of resignation was delivered by hand Tuesday morning to the office of Delaware County Council Chairman Nicholas F. Catania. The council appoints authority members. Catania said in an interview that there had been member concern "about how the IDA has been spending its money.
March 28, 2002 |
KATE DESSART MAGER was named Gatorade State Girls Basketball Player of the Year after a season in which she averaged 16.1 points, 6.5 rebounds and 3.2 steals for Cardinal O'Hara High in Springfield, Pa. The senior, who also was voted the top Philadelphia girls player by School Sports magazine, maintains a 4.0 grade-point average, scored a 1,330 on the SAT and has committed to Villanova. The award is given by the sports drink company in partnership with Scholastic Coach and Athletic Directors Magazine.
March 16, 1996 |
Mudslinging and name-calling are commonplace in political campaigns. But the current contest between U.S. Rep. Thomas M. Foglietta and former Common Pleas Judge John L. Braxton for the April 23 Democratic nomination in the city's First Congressional District could be the first to result in a business deal between the candidates. On Thursday Foglietta was stung when Braxton called him a "slumlord" because a vacant Center City commercial building in which he has a 20 percent stake owes the city about $34,000 in back real estate taxes and sewer and water bills.
April 24, 1991 |
The New Bank of New England, unable to foreclose on a hotel owned by a Willard G. Rouse 3d partnership, yesterday obtained a court judgment to wrest from Rouse personally $22 million the bank says it is owed for the hotel's construction. An attorney for the bank said it now could seize "any assets" in Rouse's "sole name" as well as Rouse's stake in other properties. The lawyer, Lawrence J. Lichtenstein, said the bank had not decided when that would happen. "We'll certainly give (Rouse)
April 11, 1986 |
Veterans Stadium will open for business today before the Phillies' first home game with all conflict among its new food concessionaires resolved. Mayor Goode interceded earlier this week after Councilman Lucien Blackwell and several female-owned enterprises complained that officials of the Ogden Food Services Corp. had broken promises about what share of business the women would get. Ogden, in partnership with city Human Relations Commissioner Clarence Farmer, had won the 15-year multimillion-dollar food services contract in a competitive bid last November.
September 11, 1990 |
The Rittenhouse Square mansion of the late Henry P. McIlhenny, where the former chairman of the Philadelphia Museum of Art housed his world-class art collection and entertained royalty, is scheduled to be sold at sheriff's sale in October. The mansion, a group of three townhouses on the southwest corner of Rittenhouse Square, has been listed for sale to satisfy a $2.7 million Common Pleas Court judgment awarded to Bell Savings Bank, of Upper Darby, which holds a mortgage on the property.
March 29, 1990 |
Trustees of the Pew Charitable Trusts decided yesterday to investigate forming a $100 million public and private partnership to develop the old Metropolitan Opera House at Broad and Poplar Streets into a popular entertainment center. Last year, the philanthropy purchased a one-year, $50,000 option to buy the 1908 building, built by Oscar Hammerstein and most recently used as a church, and conducted a $200,000 study to assess the economic viability of the project, which it hoped would served as a catalyst for redeveloping the surrounding North Philadelphia neighborhood.