Add $325 Million To Price For Philadelphia Gallery Makeover

The Pennsylvania Real Estate Investment Trust and the Macerich Co. say it will take $325 million in new investment to transform the Gallery at Market East into what they are calling Fashion Outlets of Philadelphia.

That is on top of the $250 million already spent by PREIT to assemble what had been privately owned property in the project area, bringing the total development cost to about $575 million.

The rest of the area still owned by the Philadelphia Redevelopment Authority will be conveyed to the developers as part of the revitalization plan being reviewed by City Council.

Read more at http://www.philly.com/philly/business/20150529_Add__325_million_to_price_for_Gallery_makeover.html#F7QlJvyP5ed6ECxM.99

PREIT Reveals The Gallery’s New Look

Everything about the decrepit Gallery at Market East may be about to change.

Under an intended top-to-bottom renovation, one of Center City’s most notorious dead spots would be reborn as a gleaming glass-and-steel emporium – brimming with brand-name discount fashion shops, destination restaurants, and lively sidewalk cafés.

Even the name would be new. Welcome, shoppers, to the Fashion Outlets of Philadelphia.

Details of the plan were provided exclusively to The Inquirer in advance of a series of meetings by government agencies whose support is vital to the project. The news marks a grand unveiling of plans for the Gallery following years of uncertainty and speculation.

Read more at http://www.philly.com/philly/business/20150415_PREIT_reveals_the_Gallery_s_new_look.html#ZjuIZxyXWmB7TTV1.99

No Holiday Cheer At The Philadelphia Gallery

MOHAMMAD HOSSAIN has sold jewelry from his Gold Center kiosk in the Gallery mall on East Market Street for 10 years, and yesterday he wore a weary expression.

Despite the holiday season, Hossain and other merchants weren’t feeling cheerful. PREIT, the owner of the Gallery, has told them to vacate by either Dec. 31 or Jan. 31.

PREIT has plans to redevelop the Gallery, which means the stores and kiosks will be moved out for at least a year.

George Thomas, who has operated a jewelry kiosk there for 20 years, said merchants are angry.

Read more at http://www.philly.com/philly/business/20141214_No_holiday_cheer_at_the_Gallery.html#4y8Ur2uzxQh6rLqw.99

Turning Up The Lights On Gray Market St. East

English: Lit Brothers Department Store, 701-39...

English: Lit Brothers Department Store, 701-39 Market Street (block bounded by Market, 7th, Filbert, 8th Streets) Philadelphia, Pennsylvania (33 buildings built between 1859 and 1918, unified by a brick & iron facade). (Photo credit: Wikipedia)

The Times Square-ification of Market Street East in central Philadelphia is underway, and it is starting at one of the most treasured buildings on one of the most stubbornly seedy thoroughfares in Center City.

Construction scaffolding has begun its crawl up the cake-frosting-white facade of the former Lit Bros. department store, a century-old architectural wonder that will be home to the city’s first flashy, high-tech video billboard screens.

Over the next three months, crews will work to install stadiumlike, wraparound LED signs rising 14 feet above the roofline of both corners of the landmark structure on the 700 block of Market Street.

Officials hope to light up Lits for the first time on New Year’s Eve – the holiday synonymous with Times Square, the Manhattan billboard mecca whose mojo Market Street’s boosters and investors are hoping to mimic.

Read more at http://www.philly.com/philly/business/20140928_Video_screens_to_add_some_pop_to_street.html#pR6W1yWRRd3Al006.99

Sex Trafficking On The Rise; Philly A Hub

Map of Pennsylvania highlighting Philadelphia ...

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

THE YOUNG woman who befriended Tiffany on the Internet seemed innocent enough – so in the midst of a rough patch with her father, the 16-year-old Northeast Philadelphia girl let her new cyber-friend pick her up at home.

When she got into the taxi on that fateful day in January 2006, Tiffany didn’t know that she was stepping into a dark underworld of violence, drugs and sex slavery. The seemingly normal young woman she’d met on MySpace.com delivered her into the hands of Rahiim McIntyre, 36, a now-convicted violent sex trafficker who awaits sentencing in federal prison.

Over the next two weeks, she would face unimaginable horrors as she plotted to get away from her captor without being caught and beaten – or worse.

The experience of Tiffany – a pseudonym created by the Daily News to protect her identity – is not uncommon.

Read more at http://www.philly.com/philly/news/20140805_NE_Philly_teen_s_sex-slave_experience_is_all_too_common.html#AcdIPfsVqMRObkto.99

Century 21 Store Owner Pledges To ‘Alter The Retail Landscape’ In Center City

Map of Pennsylvania highlighting Philadelphia ...

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

Eddie Gindi met the family Tuesday. No one who ever pledged to a loved one could have been more solicitous.

Executive vice president and co-owner of Century 21, the latest and, arguably, most exotic retailer to commit to Philadelphia, Gindi promised success, devotion and a boundless future.

“We are honored to be part of Philadelphia,” he told an enthusiastic crowd at the Union League. “We want to alter the retail landscape here.”

And more.

Read more at http://www.philly.com/philly/business/20140611_Store_owner_pledges_to__alter_the_retail_landscape__in_Center_City.html#8bM5ZjttKxmE5Gsc.99

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$60-$70 Million Chestnut Street Residential Development Set To Begin

Map of Pennsylvania highlighting Philadelphia ...

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

In what would transform a bedraggled slice of central Philadelphia, demolition crews are weeks away from dismantling nearly an entire side of the 1100 block of Chestnut Street, part of a $60 million to $70 million redevelopment tapping the soaring apartment market and surging appetites to shop and live east of Broad Street.

Zoning approvals and permits are in place, additional property was acquired as recently as Thursday, and a large section of sidewalk has been closed as lead development partner Brickstone Co. prepares to build a complex of loft-style apartments above towering, three-story retail spaces.

The development will stretch almost the length of the south side of Chestnut between 11th and 12th Streets, Brickstone managing partner John J. Connors said.

Connors would not discuss what tenants are being courted, but the project could include a supermarket if rumors swirling among civic activist circles are true.

Read more at http://www.philly.com/philly/business/20140425__60-_70_million_Chestnut_Street_residential_development_set_to_begin.html#oF4zBbpGx4j9dij1.99

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PhillyDeals: Is A High-End Retailer In Gallery’s Near Future?

Work crews have been hammering away, restoring the wood-and-bronze-accented central hall of the former Strawbridge & Clothier store downstairs at 801 Market St. from our Inquirer offices.

Rumors that Bloomingdale’s or another high-end department store will take the space have been current in the neighborhood.  Earlier plans and speculation had centered on a casino, a Target, or high-end restaurants.

Of course, Bloomingdale’s owner, Macy’s Inc., hasn’t announced a new Philly store.  Erin Halley, spokeswoman for Pennsylvania Real Estate Investment Trust (PREIT), told me there’s nothing to announce.

But retail-watchers say PREIT, which didn’t upgrade the Gallery complex when it improved its malls in Cherry Hill, Plymouth Meeting, and other suburbs in the late 2000s, finally looks ready to make a Center City move – especially since it agreed to pay $60 million to buy the last section it didn’t already own from Vornado Realty Trust last fall.

Read more at http://www.philly.com/philly/business/20130712_Is_a_high-end_retailer_in_Gallery_s_near_future_.html#H0ISG0TbHQrRt3SG.99

Philadelphia’s Chinatown Cleans Up Blight – Neighborhood Expands North Past Vine Street Expressway

Chinatown district of Philadelphia, Pennsylvania.

Image via Wikipedia

Philadelphia’s Chinatown is one of the largest in the United States and a must see for visitors to Philadelphia, residents of the city and suburbanites alike.  For that matter, anyone who loves Asian cuisine and culture should explore Philadelphia’s Chinatown.

In recent years Chinatown was threatened and some area was lost due to the construction of the Vine Street Expressway, the Gallery mall, Market Street East train station and the Convention Center.  It was also the proposed location for a prison and a new ball park for the Phillies.  45 years ago, the Philadelphia Chinatown Development Corporation was formed to keep Chinatown alive and well in Philadelphia.

Chinatown’s borders are Arch Street on the south, Vine Street on the north, 11th Street on the west and 8th Street on the east.  Recently Chinatown has expanded across Vine Street into what has become known as Chinatown North.

The area where 10th Street crosses the Vine Street Expressway had become a garbage dump and a sleeping area for the homeless.  10th Street is a vital link from Chinatown to Chinatown North.  The Philadelphia Chinatown Development Corporation, the PA Department of Conservation and Natural Resources and Hahnemann University Hospital cosponsored a new gateway area for Chinatown. The $300,000 project was recently completed and has transformed an undesirable area into a beautiful public space called 10th Street Plaza.

A seven ton foo dog, hand carved from granite in the Fujian Province, stands guard at each end of the newly formed plaza.  One is male, the other female.  An Asian-style pergola was constructed, which during the warmer months will provide shade from climbing vines.  Tables, benches and lighting were also added transforming the area into an outdoor gathering place.  An eight-foot-tall statue of Lin Zexu will also join the foo dogs in the plaza.

The area north of Vine Street was formerly a warehouse/industrial district but has now become a haven for businesses who want to be near Chinatown.  Restaurant suppliers, travel agencies and construction firms for starters.  This northerly migration has created much needed room for Chinatown to expand, thus making the 10th Street crossing a pivotal component for neighborhood revitalization and stabilization.  Many people who live and work in Chinatown must use the 10th Street overpass every day.

A formal dedication of 10th Street Plaza is scheduled for spring.