Tuesday, August 4, 2015

Market8 bills itself as 'home team'

Market8 unveils its plans for a Center City casino at 8th and Market Streets.

Market8 bills itself as 'home team'

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Ken Goldenberg stands above the lot at 8th and Market, site of his proposed entertainment center. (MICHAEL BRYANT / Staff Photographer)
Ken Goldenberg stands above the lot at 8th and Market, site of his proposed entertainment center. (MICHAEL BRYANT / Staff Photographer)

    First up in the standing room only hearing before the Pennsylvania Gaming Control Board, developer Ken Goldenberg played up the location of Market8, its proximity to transit and the local nature of the investors.
    “We are the home team,” Goldenberg said.
     In what is sure to be a standard feature today the Market8 team promoted their project in a 10 minute video.
    Some of the details:

  • financing will include $150 m from the Market8 investor group; $350 m in debt from Deutsche Bank.
  • building will feature a reflective skin. Says Andrea Steele of Ten Arquitectos, “a living skin to reflect the movement to and from this site.”
  • Market8 will be an entertainment center “that happens to have a casino,” says partner David Adelman, president of Campus Apartments.”

    Goldenberg, whose company co-owns the land for the project with the Pennsylvania Real Estate Investment Trust, said he’s had other ideas and opportunities for the land but held off because of his “trenchant commitment” to come up with a project that would deliver “the full transformative potential of this property.”
     Building would have four levels of underground parking. Goldenberg said during evening rush, the increased traffic to the casino would only create a “10 second delay at any intersection.”

More coverage
 
Live coverage of today's casino hearings
 
Live video of today's hearings on Philly's second casino
 
Market8 casino bills self as 'home team'
 
All casino, all day: State Gaming Control Board hears 6 pitches from casino applicants
 
Casino hearings: Gaming vets behind Live! plan
 
Casino hearings: Two local entrepreneurs team up
 
Casino hearings: Wynn Philadelphia: A waterfront resort
Inquirer Staff Writer
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About this blog

Reporter Jennifer Lin follows the competition among the six contenders for Philadelphia’s second gaming license.

Harold Brubaker Inquirer Staff Writer
Jennifer Lin Inquirer Staff Writer
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