Changing Skyline: Apartment Towers Growing Toward Philadelphia’s West

Map of Pennsylvania highlighting Philadelphia ...

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

High-rise construction in Philadelphia comes in waves. The last big crest a decade ago brought in a handful of pricey condo towers, mainly clustered in established neighborhoods around Rittenhouse and Washington Squares.  This time, the tide is rolling westward, from Center City out toward the universities, and it’s looking like a tsunami.

Five apartment towers are or will be going up along Market and Chestnut Streets, between 20th and 38th, one glassy slab after another.  The total grows to seven if you count two clever retrofits where developers have piled extra floors on top of existing buildings, turning height-challenged mid-rises into full-fledged high-rises.

This stretch – from the tattered western edge of Center City to the University City Science Center – has long been an ill-defined territory, not uniformly academic, commercial, or residential.  The arrival of a couple thousand residents can’t help but make these blocks feel more lived-in, and the bustle should advance the goal of knitting together the two sides of the Schuylkill.

Read more:  http://www.philly.com/philly/home/20130621_Changing_Skyline__Apartment_towers_growing_toward_Phila__s_west.html

PhillyInc: Merger Of Real Estate Firms Tied To Life Sciences May Give West Philadelphia Area A Boost

English: Map of Philadelphia County highlighti...

English: Map of Philadelphia County highlighting West Philadelphia (Photo credit: Wikipedia)

For 50 years, the University City Science Center has been where scientists and start-ups have toiled to build the next generation of Philadelphia-area companies.

But to hear science center president and CEO Stephen S. Tang, what would really help nurture that entrepreneurial soup would be if a big life-sciences company were to put its headquarters or research operations in West Philadelphia.

Given that several of the biggest drug companies locally have already made long-term commitments elsewhere, there is nothing on the horizon presently.  But a merger between two real estate firms that focus on life-sciences properties may aid Tang’s quest.

Late last month, BioMed Realty Trust Inc. said it would acquire Wexford Science & Technology L.L.C. in a $640 million transaction.

Read more: http://www.philly.com/philly/business/columnists/20130408_PhillyInc__Merger_of_real_estate_firms_tied_to_life_sciences_may_give_West_Philadelphia_area_a_boost.html#ixzz2PsybwX00 
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