Saturday, April 19, 2014
Inquirer Daily News

Eastern U: New Philly campus, charter at old MCP

Eastern University, the Baptist-affiliated college based in St. David's on the Main Line, has leased 60,000 square feet to house a new charter school and consolidate its scattered Philadelphia programs at Falls Center, the former Medical College of Pennsylvania complex

Eastern U: New Philly campus, charter at old MCP

Eastern University, the Baptist-affiliated college based in St. David's on the Main Line, has leased 60,000 square feet to house a new charter school and consolidate its graduate urban studies program and other classes at Falls Center, the former Medical College of Pennsylvania complex now owned by 3300 Henry LP, an affiliate of Iron Stone Real Estate Group.
 
"It's a dramatic shift for them. It represents their committment to the city," said Iron Stone partner Jason Friedland. He wouldn't disclose the price. He said Fall Center's office space -- 300,000 square feet -- is now more than half leased, with tenants including St. Christopher's Pediatrics and Resources for Human Development, among others. Iron Stone is also developing housing and stores on the 12-acre site.
 
Eastern is moving programs now housed at 990 Spring Garden St. to the Falls Center, along with the new Eastern University Academy Charter School, which should open this year with an initial 102 students in Grades 7, 8, and 9, said Eastern spokeswoman Linda Olson. She said Eastern hopes eventually to grant college credits for courses at the Academy, under a plan developed by the Bill and Melinda Gates foundation.
 
 
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PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

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