Members voted Thursday in favor of legislation establishing a framework for taking occupancy of the 18-story tower at 400 N. Broad St. after it is renovated for the department by its current owner, a subsidiary of developer Bart Blatstein's Tower Investments Inc.
The congressman's letter follows efforts by an advocacy group to draw attention to what it characterizes as the misallocation of public support to projects in already-developed neighborhoods at the expense of poorer communities.
Sales of the offices at Two Liberty Place and of the Wanamaker Building also did not bring to Philadelphia and Pennsylvania the full transfer-tax proceeds. New rules that go into effect July 1 aim to close loopholes frequently employed - legally - in large commercial real estate transactions.
Gotham Bedrock LLC paid $7 million for the 1.5-acre property between North Delaware Avenue and the Delaware River near Marlborough Street.
The 36-acre campus was formerly the site of Lee Tire Co.
K4 is asking Councilman Mark Squilla to delay work on a bill he introduced that would allow the developer to build higher than waterfront regulations currently permit.
The development along central Philadelphia's riverfront also is to include construction of a two-mile bike trail along Columbus Boulevard and extension of the South Street Bridge to Penn's Landing.
The complex was purchased from an affiliate of CS Capital Management of El Segundo, Calif.
The board of the Philadelphia Authority for Industrial Development voted Tuesday to approve a bond issue to finance the building's acquisition and renovation.
Spaces will occupy floors three-through-eight of the eight-story building.
A growing number of big, publicly traded mall and retail-center owners are redeveloping their Philadelphia-area shopping spaces to include residences.
The plan by Astoban Investments LLC preserves the four-story Frank Furness-designed brownstone at 2108 Walnut St.
Nelson chairman and chief executive John "Ozzie" Nelson Jr. described the acquisitions as a "first strategic move."
The new owners of the Alpine Mountain Ski and Ride Center are considering turning the resort into a destination for motorcycle owners.
The publicly listed packaging company is seeking a new headquarters location in the Pennsylvania suburbs or outside the state.