Developer Bart Blatstein plans a one-story retail structure to be anchored by a CVS Pharmacy at Broad and Spring Garden Streets beside his Tower Place apartment building in Philadelphia.
In addition to the CVS store, Citizens Bank has a signed lease for one of the structure’s six storefronts facing Spring Garden Street between Broad and 15th Streets, according to a brochure posted online by brokerage MSC Retail, which is marketing space at the property.
Deals are also being negotiated for a Starbucks cafe and Sprint cell phone store in the retail space, according to the brochure.
The plan comes about five years after the opening of the Tower Place apartments, a former state office building that Blatstein converted into dwellings.
Because Blatstein used federal historic tax credits to help finance the conversion of the now 60-year-old building, he was prohibited from altering the property with new construction or other major changes for five years after it returned to use.
A Blatstein affiliate was granted a zoning permit for the retail structure last month, according to Department of Licenses and Inspections records. The structure is scheduled for completion during the first three months of 2019, according to the leasing brochure.
Messages left for Blatstein, MSC, CVS, and Citizens Bank were not immediately returned.