Philadelphia Wants To Buy Former Scott Plaza Site As Part Of Airport-Expansion Plan

Philadelphia wants to buy the 27-acre property known as International Plaza on Route 291 in Tinicum Township, Delaware County, as part of a long-range expansion of Philadelphia International Airport.

An ordinance was introduced in City Council on Thursday, paving the way for the city-owned airport to purchase the complex, which has two office buildings that were once the corporate headquarters of Scott Paper Co.

The former Scott Plaza site is owned by a joint venture of affiliates of New York-based private equity firm Angelo Gordon & Co. and Amerimar Enterprises Inc., a commercial real estate development and management company.

“We are in the loop on this,” said Gerald Marshall, president and CEO of New York-based Amerimar Enterprises. “Yes, we are willing to sell it.”

Read more at http://www.philly.com/philly/business/20150527_Phila__wants_to_buy_former_Scott_Plaza_site_as_part_of_airport-expansion_plan.html#U7MimCXQbI5WcApC.99

DeMedici II Will Buy Former GlaxoSmithKline Building For New String Theory School

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

A new performing arts charter high school says it has sealed a deal to open in the fall at GlaxoSmithKline‘s former North American headquarters at 16th and Vine Streets.

Under terms that will be announced Thursday, a nonprofit associated with the Philadelphia Performing Arts Charter School has agreed to buy the curving, eight-story building for $29 million for the String Theory High School for the Arts and Sciences.  It will be the first charter high school in the city focused on the performing arts.

The nonprofit, DeMedici Corporation II, expects to finance the property with tax-exempt bonds from the Philadelphia Authority for Industrial Development (PAID), according to Mary D’Anella, spokeswoman for String Theory Schools, which manages the charter.

“It’s the most exciting high school this city has opened in a generation,” said Angela Corosanite, chief executive officer of the nonprofit String Theory, and founder of it and the Philadelphia Performing Arts Charter School.

Read more:  http://www.philly.com/philly/education/20130328_DeMedici_II_will_buy_former_GlaxoSmithKline_building_for_new_String_Theory_School.html