January 22, 2015 |
Philadelphia philanthropist Raymond G. Perelman has given $50 million to Children's Hospital of Philadelphia, which will name an eight-acre portion of its University City campus in his honor. The gift, to be announced Wednesday, equals in size the biggest Children's has ever received, and brings Perelman's total announced donations in the Philadelphia region to $339 million. Children's said it would use Perelman's $50 million to establish the Raymond G. Perelman Research Fund to support a Center for Cellular and Molecular Therapeutics, Perelman Scholars, a Fund for Research Innovation, the Perelman Endowed Chair in Pediatric Ophthalmology, and general research.
January 21, 2015 |
Out to help improve the beer-drinking experience, the Philadelphia life-sciences company Invisible Sentinel Inc. has entered into partnerships with four brewing companies for final validation of its Veriflow brewPAL. The technology by the University City start-up claims to be the first to provide same-day detection of pediococcus and lactobacillus, bacteria that attach to grain and can spoil the taste of beer. Last fall, Invisible Sentinel announced a partnership with Victory Brewing Co. in Downingtown to work on validation of Veriflow brewPAL.
January 15, 2015 |
Radnor Property Group is scheduled to top off Wednesday a 25-story apartment tower, 3737 Chestnut, one of several high rises going up in University City to cater to graduate students and young professionals who want to rent near the Penn and Drexel campuses. Wayne-based Radnor Property developed the $95 million project in an unusual partnership with the nonprofit Philadelphia Episcopal Cathedral. As part of the complex deal, the Episcopal Cathedral will reap income and new space, company founder David Yeager said.
January 10, 2015 |
For years, landlords tried to coax Target to open one of its big-box stores in the heart of Philadelphia. Each time they failed, daunted by the difficulty of plunking a store the size of two football fields into a packed downtown. That chase appears to have come to an end, with a much smaller version called Target Express now looking to make a splash at multiple locations in the hottest pockets of redevelopment near Philadelphia's core. Target Corp. is hunting for lease deals in Center City and University City to build what could be as many as four of the new stores, which are about one-sixth the size of a suburban Target.
December 12, 2014 |
A LOVE TRIANGLE for the digital age sparked a fight yesterday that led to the stabbing of a Drexel University student on the University City campus in the wee hours of the morning, police said. Cops said the 20-year-old victim was fighting with two men - later identified by police as Pu Wang, 23, and Junlin Ye, 19 - over someone among the trio sending text messages to another man's girlfriend. Investigators said they were unsure who the offending texter was last night. In any event, Lt. John Walker, of Southwest Detectives, said the fight on Race Street near 33rd about 3:30 a.m. escalated to pushes and shoves and went downhill for the victim from there: One of the aggressors pulled out a folding knife and stabbed the student in the back.
December 10, 2014 |
We live in the era of unlimited texting, Snapchats, direct messages, and LinkedIn connections. But Corey Carter believes we are everything but direct or connected. Verbal Connections, founded by Carter, is a conversation party, held every two months, that welcomes adults of all ages, ethnicities, and religious backgrounds to generate discourse on current events, relationships, and situation-ships. In 2011, Carter and his then-fiancée and now wife, Akilah Carter, held conversation parties in their living room.
November 4, 2014
G ARY CARDI, 39, of Wayne, is a partner in Public House Investments (PHI), which provides management services to restaurant/bars in the mid-Atlantic and Northeast. He also owns two City Tap Houses, in University City and Logan Square, and Field House and Pennsylvania 6 in Center City. Q: How'd you come up with the idea for PHI? A: That's the management company. Each restaurant is individually owned by me or one of my three partners. The management company supplies managers to all 16 restaurants that each partner owns.
October 28, 2014 |
Liberty Property Trust plans to spend $900 million putting up Comcast 's second tower over the next three years. That works out to about $600 a square foot to build. Last week, the owners of 2.0 University Place, a year-old green-roofed building west of the Drexel campus, put it up for sale at $46 million, or $469 a square foot. That's not quite as much as the Comcast tower - but roughly three times what the city's dominant landlord, Brandywine Realty Trust , was paying for central Philadelphia office towers just a few years back.
October 25, 2014 |
Owners of the five-story glass-and-brick building at 30 N. 41st St., west of the University of Pennsylvania campus - one of the few office projects built in the early part of this decade, when rents and values were weak from the recession - have put it on the market at the robust asking price of $46 million, or $469 a square foot. That is triple what some prominent Center City office buildings have traded for in recent years. If they get their price for the building, dubbed 2.0 University Place, it will be a rich yield on the $31 million committed three years ago by its investors - University City redevelopers Scott Mazo and James Levin, and lawyer Thomas Leonard, a Democratic Party fund-raiser, with backing from TD Bank.
October 21, 2014
LET'S GET IN the gutter for a bite to eat. In another of the myriad ways Philadelphia is evolving, now you can sit in the gutter, chill and eat at a parklet, a platform in a parking space. Here's something the world has been clamoring for. Well, maybe it has. We call them parklets. The first time I saw anything like this was in an Israeli Arab town, where they are called necessity. My family ate lamb kebab and hummus at a table placed perpendicular to the curb while cars - even a guy on horseback - rode by. If it's good enough for an Arab town, it's good enough for Philly.