PhillyDeals: Expansion Planned At King Of Prussia Plaza And Court

King of Prussia Mall

King of Prussia Mall (Photo credit: Wikipedia)

Simon Property Group, the Indianapolis-based retail giant that owns 200-plus shopping malls nationwide, is sacrificing more than 400 parking spaces at its King of Prussia Plaza and Court to make room for at least 50 new stores and restaurants that it hopes will draw more wealthy shoppers to the region’s biggest retail complex.

At extra-large shopping centers such as King of Prussia, at least, “the mall business is good, contrary to some of the naysayers,” David Contis, president of Simon Malls and a corporate senior vice president, told me Monday.

His company bought out other investors to take control of the King of Prussia mall in 2011, in deals that valued the complex at over $1 billion.

Contis said he expected to attract luxury stores from outside the region and “the best of the Philadelphia eateries” to the new space, rather than shifting current tenants there.

Read more at http://www.philly.com/philly/business/20141118_PhillyDeals__Expansion_planned_at_King_Of_Prussia_Plaza_and_Court.html#4mWT6geTQWCWiwR1.99

Center City Allentown High-End Apartments Renting Far Faster Than Expected, Developer Says

English: View of Allentown City from east side

English: View of Allentown City from east side (Photo credit: Wikipedia)

Developer J.B. Reilly has been building apartments for 25 years, but he’s never seen demand like he’s seeing now for his high-end apartments in Center City Allentown.

His company, City Center Lehigh Valley, announced Sept. 8 it was accepting deposits for 170 apartments in the under-construction Strata Luxury Flats at Four City Center. Two months later, almost half have deposits on them.

“I’ve been in the apartment development business my whole career and we’ve never experienced this kind of demand – even close to this kind of demand,” Reilly said Friday.

The interest in the apartments is tied to the new attention on Allentown’s downtown, Reilly said. In recent months, new restaurants, office space and a minor league hockey arena have opened, with Reilly leading much of the development.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/11/center_city_allentown_high-end.html

Charleroi Envisions Riverfront Destination As Focal Point Of Business Redevelopment Plan

Map of Washington County higlighting Charleroi.

Map of Washington County higlighting Charleroi. (Photo credit: Wikipedia)

Editor’s note:  Imagine that, another town with a vision and a plan…with the rash of shootings going on in Pottstown again….a vision and a plan would be in order.  Just sayin’…

Donn Henderson sees the Charleroi riverfront development he wants 25 miles away in Pittsburgh.

“It’s not rocket science. There are plenty of examples,” said Henderson, manager of the borough, which will announce a redevelopment plan for the central business district Thursday. “Just look at the North Side. That’s a great model. The South Side, too.”

Re-creating Pittsburgh’s successes deep in Washington County‘s Mon Valley will not be easy. But continuing to watch the once-thriving industrial and retail community lose population amid growing drug and crime problems certainly will accomplish nothing, Henderson said.

“We cannot continue that trend and survive,” he said.

Read more: http://triblive.com/news/washington/7133358-74/charleroi-henderson-buildings#ixzz3IxX1Lmiv
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Whole Foods Market Coming To Lancaster

Map of Pennsylvania highlighting Lancaster County

Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)

Whole Foods Market is on its way to Lancaster County.

But shoppers who have been waiting a long time to read a sentence like that could have to wait three more years before they actually walk through the doors of the natural and organic food grocer.

Whole Foods Market announced Thursday that it has signed a lease for a 40,000-square-foot store in the Shoppes at Belmont, a mixed-use development planned at the corner of Fruitville Pike and Route 30.

“The people in and around Lancaster have been asking for a Whole Foods Market for some time now — and we’re excited to make it a reality,” Scott Allshouse, Whole Foods Market Mid-Atlantic regional president, said in a press release.

Read more: http://lancasteronline.com/news/local/whole-foods-market-coming-to-lancaster/article_ecfe3a06-65c4-11e4-b17e-0017a43b2370.html

Residents Start To Move Into South Side Lofts Affordable Artists Complex In Bethlehem

Map of Pennsylvania highlighting Northampton C...

Map of Pennsylvania highlighting Northampton County (Photo credit: Wikipedia)

Some residents have moved into a new affordable housing complex in South Side Bethlehem that includes the redevelopment of the former St. Stanislaus Church.

Residents have started to move into the South Side Lofts apartments at East Fifth and Atlantic streets while apartments next to the church on Hayes Street will be occupied starting next month, according to officials at Housing Development Corp. MidAtlantic, the apartments’ developer.

A ribbon-cutting ceremony for the 46 apartments was held Tuesday. Read more about the project here.

Read more: http://www.lehighvalleylive.com/bethlehem/index.ssf/2014/10/residents_start_to_move_into_s.html

Brandywine Finds Partner For 29-Story Apt. Tower At 1919 Market St.

Map of Pennsylvania highlighting Philadelphia ...

Map of Pennsylvania highlighting Philadelphia County (Photo credit: Wikipedia)

Brandywine Realty Trust, the Radnor company that is the dominant office landlord in Center City, says it has a partner and detailed plans to build a 29-story, 321-apartment, $140 million tower on the grassy lot it controls at 1919 Market St. in Center City. The tower will also feature 24,000 sq. ft. of commercial space, mostly leased to Independence Blue Cross (IBC) and the CVS drugstore chain. Statement here.

Brandywine’s 50-50 joint venture partner for 1919 Market is Berwyn-based LCOR CalSTERS, a successor to the former Linpro Co., which now manages property investments for the California State Teachers Retirement System. The partners arranged to borrow $88.9 million for the project, pricing the credit at Libor plus 2.25%. Equity investment is $59.2 million, split by the two partners; Brandywine’s half includes the $13 million value of the land. The company projects a cash yield (rent/cost) of 7% a year (vs 8% for Brandywine’s $385 million FMC office/apartment tower, and 7.6% at Brandywine’s $158 million Evo apartment project, both in University City).

Read more at http://www.philly.com/philly/blogs/inq-phillydeals/New-29-story-tower-proposed-for-1919-Market-St-.html#bOWzSHLeSA7BBpJU.99

South Bethlehem Historic Board Approves 9-Story Building After Previously Panning It

Map of Pennsylvania highlighting Northampton C...

Map of Pennsylvania highlighting Northampton County (Photo credit: Wikipedia)

After voicing strong opposition last month to a proposed 9-story building on West Fourth Street, the South Bethlehem Historic Conservation District voted 5-2 Monday to support the building’s design.

District board Chairwoman Beth Starbuck said she had been very troubled by the building’s height until she realized Hotel Bethlehem also was nine stories and doesn’t stick out badly on Main Street.

“I’m not happy with the scale of this, either, but I’m less freaked out about it — it just never occurred to me that the Hotel Bethlehem is that tall,” she said.

The board makes recommendations to Bethlehem City Council, and board Historic Officer Christine Ussler said there’s a fear if the board is often overruled by council “this developer and other developers will get the sense we don’t count.”

Read more: http://www.lehighvalleylive.com/bethlehem/index.ssf/2014/10/south_bethlehem_historic_board.html

Allentown Could Be Blueprint For New Development

English: City of Allentown from east side

English: City of Allentown from east side (Photo credit: Wikipedia)

ALLENTOWN, PA – Three years ago, run-down tattoo parlors and pawnshops dominated Hamilton Street, the main drag in Pennsylvania’s third-largest city.

Now they’re gone, replaced by high-tech firms, high-end restaurants, and a burst of construction activity. In 22 months, seven buildings of at least 10 stories have gone up along Hamilton Street, and two older buildings were rehabbed. The centerpiece is the PPL Center, a new, gleaming, 10,000-seat arena that this week opens as the new hockey home of the Lehigh Valley Phantoms, the Flyers’ minor league affiliate.

Bolstered by special legislation that diverts most of the state taxes on new development within a 130-acre urban zone, supporters say what’s happened in Allentown could be a blueprint for other long-suffering small cities eager to shed their industrial past.

“I think we’re trying to change the Allentown identity,” Mayor Ed Pawlowski said over lunch Thursday at the Hamilton, one of five new downtown restaurants. “It was so jerry-rigged over the years there wasn’t much of an identity left.”

Read more at http://www.philly.com/philly/news/nation_world/20141012_Allentown_could_be_blueprint_for_new_development.html#elAVd62cIEa7dzdL.99

Four-Building SouthSide Works Project Unveiled

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

Since arriving in Pittsburgh three years ago, Raleigh, N.C.-based Highwoods Properties has acquired iconic PPG Place and EQT Plaza, Downtown. Now it’s moving across the river — to build, not to buy.

The real estate investment trust has reached an agreement with the Soffer Organization to erect four office buildings at the 34-acre SouthSide Works complex on the last four parcels left for development.

Highwoods plans to start with a 158,000-square-foot glass office building on the Monongahela riverfront next to Hofbrauhaus restaurant. The six-story building would feature 30,000-square-foot floor plates, terraces, an 8,000-square-foot restaurant, locker rooms, bike storage, a 72-space parking garage, and direct access to the waterfront park, trails and marina. Other buildings would follow based on demand — about 400,000 square feet of office and retail space in all.

Read more: http://www.post-gazette.com/business/2014/10/10/4-building-SouthSide-Works-project-unveiled/stories/201410100105

Alco Proposing Two Office Towers, Parking Garage On North Shore

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

Three years ago, Alco Parking president Merrill Stabile was rebuffed when he offered the city’s Stadium Authority $10 million to buy land on North Shore Drive for a “signature office tower.”

Now Mr. Stabile is back — this time with plans for a new office development and parking garage on the land he owns behind PNC Park on the North Shore.

As conceived, the project would feature two, 11-story glass office towers erected on top of a new five-story, 1,227-space parking garage. In all, as much as 600,000 square feet of Class A office space would be built.

“We think it’s a game-changer,” said Kim Clackson, senior vice president of CBRE, which is marketing the “very dramatic” development that would rise above the ballpark and offer views of the Downtown skyline.

Read more: http://www.post-gazette.com/business/2014/10/09/Alco-proposing-2-office-towers-parking-garage-on-North-Shore/stories/201410090197

High Hopes For $38 Million Project In Pleasantville

Map of New Jersey highlighting Atlantic County

Map of New Jersey highlighting Atlantic County (Photo credit: Wikipedia)

PLEASANTVILLE, N.J. – This down-on-its-luck stepsister town to neighboring Atlantic City has struggled economically for decades, languishing without a redevelopment plan or the ability to attract private investment.

But a $38 million project that includes two apartment buildings and retail space on a vacant Main Street block is expected to set the cornerstone for economic growth and expanded development in the Atlantic County city, according to Jacqueline Amado-Belton, economic development director for the City of Pleasantville.

“We feel like we have borne the brunt of a lot of issues that have spilled over from Atlantic City over the years,” Amado-Belton said. “In terms of perception and other factors, it’s been a struggle and a challenge to get to this point.”

The Pleasantville City Center, expected to be completed by next summer, will add 135 apartments and 18,000 square feet of retail space and will be bordered by Main Street, Washington Avenue, Milan Avenue, and South Second Street.

Read more at http://www.philly.com/philly/news/new_jersey/20141006_High_hopes_for__38_million_project_in_Pleasantville.html#ZlSiLKCqFZQAdj9H.99

Bethlehem Looking To Spice Up South Side With New Mexican Restaurant And Microbrewery

Map of Pennsylvania highlighting Northampton C...

Map of Pennsylvania highlighting Northampton County (Photo credit: Wikipedia)

A vacant parking lot on South Side Bethlehem could see new life under a $6.7 million plan for a Mexican restaurant and brewpub under one roof.

Ashley Development Corp., based in the city, proposes transforming the 0.38-acre plot at 404 E. Third St. from a former Bethlehem Steel Corp. parking lot into a multi-restaurant space owned by Bethlehem 21st Century, according to Alicia Miller Karner, director of community and economic development for Bethlehem.

Ashley Development Corp. President Lou Pektor says the project would complement and be within walking distance of the entertainment venues that have been developing in that area of the city.

Read more: http://www.lehighvalleylive.com/food/index.ssf/2014/10/bethlehem_looking_to_spice_up.html

Allentown Residents Benefiting From Hockey Arena Area Job Growth

English: City of Allentown from east side

English: City of Allentown from east side (Photo credit: Wikipedia)

When Oliver Velasquez arrived for a job fair earlier this summer at the new Allentown hockey arena, he was shocked by the number of attendees.

“I didn’t expect to see that many people; there must have been thousands,” the 26-year-old Allentown resident said. “The line actually wrapped around the block a couple of times.”

Velasquez waited in that line, and it paid off for him. He is now the PPL Center’s new suites and catering manager, providing banquets for catered events and overseeing food in the arena’s private suites.

He is one of more than 300 city residents to find employment as part of an effort by community activists and city officials to ensure people living in Allentown get a fair shot at the jobs being created by downtown redevelopment.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/09/allentown_residents_benefittin.html

Housing Market Remains ‘Disaster’ In Westmoreland County

Map of Pennsylvania highlighting Westmoreland ...

Map of Pennsylvania highlighting Westmoreland County (Photo credit: Wikipedia)

Veteran housing contractor Greg Kinzler of Washington Township knows all too well the lingering effects the nation’s 2008 recession has had on the region’s homebuilding market.

“It’s still a disaster, what’s going on. How do you expect the housing market to be booming? There are numerous factors causing the housing market to drop,” said Kinzler, president of Sparkle Construction – SPP Inc.

Activity in Westmoreland’s residential construction market has fallen so sharply that only 430 building permits were issued in 2013 for new single-family and multi-unit residences, less than half the 1,028 building permits issued 10 years earlier, according to U.S. Census Bureau statistics.

Prospective homebuyers are having a difficult time meeting banks’ credit requirements, Kinzler said.

Read more: http://triblive.com/news/westmoreland/6641819-74/market-building-homes#ixzz3CBkiMq9i
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Plans For Two Hotels At 15th & Chestnut Taking Shape

Map of Pennsylvania highlighting Philadelphia ...

Map of Pennsylvania highlighting Philadelphia County (Photo credit: Wikipedia)

Next week, developers will present their designs for the W and Element Hotels planned for 15th and Chestnut streets to the Center City Residents Association. The presentation is for information only: The planned project requires no zoning variances and can be built by right.

According to a description shared with PlanPhilly by an attorney working on the project, the hotels will have a total of 755 rooms. There will be 295 rooms in the four-star W Hotel, and 460 rooms in the three-star, extended-stay Element by Westin. The entire hotel operation will be managed by Starwood, a Connecticut-based hospitality company.

Read more at http://www.philly.com/philly/business/Plans_for_two_hotels_at_15th_and_Chestnut_taking_shape.html#P5wsWYOKxqO3JmVS.99

Wilkes-Barre Zoning Board Approves Changes Requested By Housing Develoopment Corp

Map of Pennsylvania highlighting Luzerne County

Map of Pennsylvania highlighting Luzerne County (Photo credit: Wikipedia)

WILKES-BARRE, PA — About 30 people protested the proposed housing project in the Rolling Mill section of the city, offering testimony, petitions and heartfelt concerns, but the Zoning Hearing Board unanimously approved all four changes requested by Housing Development Corporation MidAtlantic of Lancaster.

As the crowd filtered out of council chambers at City Hall Thursday evening, you could hear cries of “It’s not fair,” and “You live there,” from residents of McCarragher, Moyallen, Dana and Grove streets — all to be impacted by the 56-unit rental complex to be built by HDC.

Attorney Charles McCormick, zoning hearing board solicitor, said there is a 30-day window for appeals to be filed on the decision. Once that is exhausted, HDC will then bring a detailed land development plan to the city’s planning commission for approval.

Read more: http://www.timesleader.com/news/local-news/50170995/Rolling-Mill-development-moves-forward#.U_YbQPRDsxI

Bethlehem Developer Now Seeking 12-Story Building On South Side

Map of Pennsylvania highlighting Northampton C...

Map of Pennsylvania highlighting Northampton County (Photo credit: Wikipedia)

A Bethlehem developer has submitted new plans for a 12-story South Side building wherehe’s already received approval to build a seven-story structure.

Dennis Benner is now seeking approval to build a 12-story building at West Fourth and Vine streets. He received approval for the other project in April.

Benner’s plans include demolishing a second building to allow for the new project, which would include a restaurant or retail space on the first floor plus 11 stories of apartments.

“It’s a substantial change in the project,” said Alicia Karner, Bethlehem’s community and economic development director. “It’s several stories higher and the footprint is far larger.”

Read more: http://www.lehighvalleylive.com/bethlehem/index.ssf/2014/08/bethlehem_developer_now_seekin.html

LTV Site In Hazelwood Nearly Ready For New Identity

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

Work to level a former steel mill in Hazelwood is expected to be done by the end of August, clearing the way for contractors to build a 1½-mile road and run utility lines through the 178-acre property, a developer said on Friday.

“Once the infrastructure work is under way, I think it will unlock tremendous interest in the site” from prospective tenants, said Donald F. Smith Jr., president of the Downtown-based Regional Industrial Development Corp.

RIDC is partnering with four foundations under the name Almono to transform the former LTV Steel Co. site. They bought the riverfront property in 2002 and envision more than $1 billion in development happening there during the next two decades, including 1,400 housing units, 1.3 million square feet of office space and nearly 950,000 square feet of industrial space.

Read more: http://triblive.com/news/allegheny/6583745-74/million-site-development#ixzz3A6HN2TvF
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Oxford Pitches New 20-Story Downtown Office Tower

Downtown Pittsburgh as seen from the fountain at Point State Park

Downtown Pittsburgh as seen from the fountain at Point State Park

Oxford Development Co. is pitching a revised plan for a new office tower Downtown — 20 stories instead of 33 with a soaring 18-foot-high lobby and a host of eco-friendly features.

Dubbed 350 Fifth, the new high-rise would be built on the west side of Smithfield Street between Forbes and Fifth avenues, replacing an existing Oxford-owned building, which would be demolished.

For two years, the developer has been debating whether to renovate the nearly vacant building at 441 Smithfield at a cost of $40 million or build a new 33-story high-rise at the site. But it was unable to secure the anchor tenant needed to make the latter work.

Wanting to leave its own imprint on Downtown’s resurgence, it has now settled on a third option — a striking 20-story glass and aluminum tower envisioned for multiple tenants.

Read more: http://www.post-gazette.com/business/2014/08/08/Oxford-pitches-new-Downtown-office-tower/stories/201408080078#ixzz39p0XKRSS