Philadelphia State of the Market

Thu Sep 10, 2026

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Philadelphia State of the Market

The Deals, Districts, and Decisions Shaping the City's Next Chapter

Thursday September 10 2026 @ 8:00 AM EDT

$145.00

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Speakers and Panels

Keynote

Dean Adler

co-Founder & CEO, Lubert-Adler

Bradley Korman

Mr. Korman is Co-CEO of Korman Communities, Inc. The Company is one of the largest owners and managers of multi-family properties in the region with a portfolio of 24 properties, and total market capitalization in excess of $2 Billion. The Company operates throughout major markets in the United States, and is based outside of Philadelphia, PA. The Company was the innovator of short-term furnished apartments in the United States over 50 years ago, and Mr. Korman is a member of the fourth generation to lead this company. The Company operates three brands, including its ARK and AVE properties which feature full service multifamily operations at prime, infill locations. The Company introduced its AKA brand in 2004, an upscale, urban high-rise concept with properties located in New York City, Philadelphia, PA, Washington, D.C., Beverly Hills, CA, and London. Mr. Korman has lead the acquisition, development and financing program of all new properties by the Company, including the entrance into new markets such as New York City, Beverly Hills and London. This growth has allowed Korman Communities to establish relationships with some of the largest and most respected financial and lending institutions in the country. Mr. Korman oversees all new business development, including debt and equity relationships, throughout the Company. Mr. Korman serves on the Board of Trustees of The Philadelphia Police Foundation, Germantown Academy and the Duke University Library Advisory Board. He is also a member of the JFRE Executive Committee, President’s Leadership Council at Jefferson, Zell/Laurie Real Estate Center of The Wharton School of the University of Pennsylvania, and is a licensed Real Estate Broker in Pennsylvania and New York. Mr. Korman received his B.A from Duke University in 1987, and his M.B.A. from The Wharton School of the University of Pennsylvania in 1992.

Korman Communities

CEO

Bradley Korman

CEO, Korman Communities

Leo Addimando

Managing Partner and Co-Founder, Alterra Property Group

Tom Scannapieco

President & CEO, Scannapieco Development Corporation

Bill Hankowsky

President, Wayne Avenue Enterprises

Gregg Caren

President & CEO, Philadelphia Convention & Visitors Bureau

Paul Badger

Paul L. Badger Jr. is the President and CEO of THE BADGER GROUP. He has over twenty years of combined entrepreneurial and professional experience as the Founder and CEO of THE BADGER GROUP, LLC, and while working with industry leading Fortune 500 companies. Through his various roles, Mr. Badger has developed expertise in real estate development, investment, management and sales, consumer marketing and project management, and professional sales. He has a well established track record of success managing businesses, products and individuals while increasing market share and profitability. In 1996, Mr. Badger founded THE BADGER GROUP. Since then, his accomplishments as a real estate developer include the successful acquisition and development of properties throughout Philadelphia and its surrounding counties while maintaining consistent, controlled, growth. He has established an expertise in both single family and multifamily development, as well as new construction, adaptive re-use of existing structures, and land development. Current ventures include residential, commercial, mixed use, and hotel development and acquisition. Mr. Badger conducted his formal education at Morehouse College, graduating cum laude with a BA degree in Business Administration with a concentration in marketing. He went on to earn his M.B.A. from the Kellogg Graduate School of Management at Northwestern University with a triple major in marketing, finance, and management strategy. In addition, Mr. Badger studied real estate at Temple University’s Real Estate Institute, and is licensed to practice real estate in the state of Pennsylvania. Mr. Badger is an active member of the community serving in both a civic and professional capacity in the following roles: BOARDS AND AFFILIATIONS • Vice Chair, The Development Workshop • Board of Directors, The BIA (Building Industry Association) • Board of Directors, HAPCO (Homeowners Assoc of Philadelphia). • Mayoral Appointeee, Lead Poisoning Prevention Committee • Mayoral Appointeee, Eviction Prevention Task Force • Mayoral Appointee, Board of Directors and Past Vice Chair, Philadelphia Land Bank • Mayoral Appointee, Bord of Directors, PHDC Accelerator Fund • Selected, Regulatory Reform Sub-Committee • Selected, PIDC Finance Advisory Committee • Selected, Advisory Board for the Philadelphia Housing Authority’s HCV Program (Section 8) • Chair, Founder, and/or Leader of 5 Diversity and Inclusion Committees including: The Development Workshop, BIA, PAGE Initiative, Wissahickon School District, AAREP-P • Elected, Board of School Directors, Wissahickon School District • Member, Morehouse Alumni Association • Member, Northwestern Alumni Assoc., Kellogg Business School BMA • Member, Kappa Alpha Psi Fraternity, Inc. • Member, National Black MBA Association (NBMBAA) • Member, National Association of Black Hotel Owners Operators and Developers (NABHOOD) • Member, Urban Land Institute (ULI) • Co-Founder, African American Real Estate Professionals – Philadelphia (AAREP-P)

The Badger Group

President & CEO

Paul Badger

President & CEO, The Badger Group

Tayyib Smith

Principal, Smith & Roller / The Collective

Kate McNamara

SVP, Navy Yard, PIDC

Benjamin Connors

President & CEO, General Building Contractors Association

Timothy Stephenson Jr.

Managing Director, Market Leader, Marcus & Millichap

Matt Lakofsky

Partner, Citrin Cooperman

Moderator

Aaron Gantz

VP Economic Development & Strategy, Greater Reading Chamber Alliance

Ryan McCaffrey

Ryan has decades of legal experience representing sophisticated, entrepreneurial, and institutional real estate clients across billions of dollars of transactions. But what makes him truly unique is that Ryan is equally comfortable in wingtips or a hard hat. He spent over a decade working as the Chief Legal Officer of a premier real estate developer (building, converting, or renovating roughly 8,300 Class A+ rental units with a total project cost of about $4,300,000,000) where he provided counseling throughout the entire life-cycle of real estate investments. He has also served as a general counsel for affiliated general contractors, manufacturing and property management companies, and has been a trusted advisor to developers, lenders, and investors alike looking for a resource that both understands the nuances of the “dirt” real estate business and the complexity of structured finance with an eye on how to scale a business. Prior to his in-house work, Ryan was a real estate and corporate attorney at Sullivan & Cromwell LLP, and before that Ryan worked for Kirkland & Ellis LLP. In both roles, Ryan represented real estate private equity sponsors, investment banks, high net worth individuals, developers, real estate operating companies, and hospitality clients in all aspects of private equity real estate transactions. Working across the life cycle of a real estate project means Ryan has a breadth of experience that covers both the capitalization of projects (e.g., mortgage and mezzanine debt, common and preferred equity together with ground leases, tax credit and syndications) and the successful execution of buying, entitling, building, managing, leasing and selling (or recapitalizing) real estate. As a trusted advisor, Ryan also has extensive experience in general partner and corporate-level and platform growth strategies for developers and other private equity companies as they mature. In addition to Ryan’s legal experience at firms and in-house, he has spent over a decade as a professor at the University of Notre Dame and the University of Pennsylvania where he created courses on the practical application of transactional law skills for third-year law students preparing to begin their legal career in the transactional space. Ryan joined Adler & Stachenfeld LLP in April 2025 and is a cum laude graduate of the University of Notre Dame Law School. He received his B.A. from the University of Richmond. When not at work Ryan can be found spending time with his family, playing music, and doing his best to work on his chess game so his son will still play with him. He serves on the Board of the Paul Robeson Chess Club (a 501(c)(3) providing chess and life counseling at-risk youth) and of the French International School of Philadelphia where his two children join his wife as proud polyglots.

Adler & Stachenfeld LLP

Partner

Moderator

Ryan McCaffrey

Partner, Adler & Stachenfeld LLP

Moderator

Chuck Hurchalla

Founder and CEO, Evolution Sustainability Group

Why You Should Attend Philadelphia State of the Market

Why This Matters

Philadelphia just closed a landmark year. Six FIFA World Cup matches, America250 programming, MLB's All-Star Game, and The New York Times naming Philadelphia its top travel destination of 2026 have raised the city's national profile meaningfully. Tourism Economics projected international visitation would grow 4.5% in 2026 after a 13.8% decline in 2025, Center City retail occupancy has reached a two-year high, and outside capital is taking a fresh look at Philadelphia.

September is when the industry takes stock of what stays. South Philadelphia is in the middle of a once-in-a-generation transformation, with the Bellwether, the Navy Yard, and the new arena district all in vertical construction. At the same time, the project teams delivering work today are navigating a set of Philadelphia-specific cost, schedule, and policy pressures that shape every pro forma in the room.

What You'll Learn

Whether Philadelphia's national reputational reset from a year on the global stage is translating into corporate relocations, capital deployment, and a stronger tourism baseline, and what realistic 2027 performance looks like once the headline events fade
How three South Philadelphia master plans, the Bellwether, the Navy Yard, and the new arena district, are sequencing infrastructure, capital, and tenant attraction without cannibalizing each other
Where the construction lender environment has tightened and which deals are getting financed in this market specifically
What the next chapter of Philadelphia development looks like through the eyes of the operators who have built and rebuilt the city across four decades and three distinct cycles
Which neighborhoods, asset classes, and project types are attracting the strongest investor and tenant demand heading into 2027
How leading developers, brokers, and capital sources are positioning their portfolios for the next twelve to twenty-four months
How Philadelphia's anchor institutions, employers, and civic leaders are coordinating to keep momentum from the events year working for the broader business community

How You'll Do More Business

This is the room where Philadelphia's owners, developers, brokers, lenders, designers, builders, and advisors come together to share what they are seeing, compare notes on the market, and find the partners they need for the next round of deals.

Who Attends

Owners, developers, investors, lenders, brokerage leadership, life sciences and healthcare operators, multifamily and industrial developers, hospitality leaders, architects, engineers, contractors, real estate counsel, tax and accounting advisors, and public-sector decision-makers.

Why You Should Attend

Philadelphia's market is moving, and September is the moment to take stock with the people shaping it. Whether you build, finance, broker, advise, design, deliver, lease, occupy, or invest, this morning brings the conversations, perspectives, and connections that will inform your decisions for the year ahead.

For questions regarding content and speaking, please email our Event Producer, Dane Sinks, at Dane.Sinks@bisnow.com. Want to get involved? Contact Max.Kleinberg@bisnow.com to get information on sponsorship, pricing and availability at this event.

To request disability-related accommodations, please contact mackenzie.kunkle@bisnow.com no later than seven business days prior to the event.

Agenda

Time	Activity
8:00 AM 9:00 AM	Registration, Breakfast & Networking
9:00 AM 9:45 AM	After the Confetti: Philadelphia's Pitch to Capital, Talent, and the Country After a landmark year that put Philadelphia on the national stage, the real estate community looks ahead to what comes next for deals, development and partnerships across the city
9:45 AM 10:30 AM	South Philadelphia Rising: Inside the Bellwether, the Navy Yard, and the New Sports District Three major master plans are now going vertical across former industrial and stadium-area sites, signaling one of the most ambitious transformation efforts South Philadelphia has seen in decades
10:30 AM 11:00 AM	Networking Break
11:00 AM 11:45 AM	From Capital to Keys: What It Takes to Get a Philadelphia Project Done in 2026 Costs, capital, timelines, and tenants are all moving at once, and the teams getting projects across the finish line are sharing how the numbers actually come together
11:45 AM 12:30 PM	The Builders of Modern Philadelphia: Four Decades, Three Skylines, and What Comes Next The developers behind some of Philadelphia’s defining projects — from breaking the height limit to revitalizing the Avenue of the Arts and leading today’s conversion wave — reflect on the moments that shaped the city and the bets guiding its future
12:30 PM 12:45 PM	Post-Panel Networking