Preservation Alliance Moves Headquarters To Historic Tower: The Philadelphia Deal Sheet
A nearly century-old office tower above Suburban Station is the new home of the Preservation Alliance for Greater Philadelphia.
The nonprofit focused on historic buildings moved into roughly 2K SF at One Penn Center last week. Its lease at 1617 John F. Kennedy Blvd., built in 1930, began April 1.
The organization had been based out of a similarly sized space at 1608 Walnut St. for decades. The end of its 12-year lease there presented a good opportunity to move, Steinke said.
“It is one of Philadelphia’s historic Art Deco buildings and a landmark that shows the long-term care and investment the Preservation Alliance supports every day,” Executive Director Paul Steinke said in a statement.
LEASES
The regional grocery store chain Cousin’s Supermarket is moving into a former Walgreens space at 1607 Bridge St. near the Frankford Transit Center. The new location is expected to open sometime this summer.
GH Bridge LLC, which owns the site, was represented by Steven Kim of Abrams Realty & Development, while Bennett Williams Commercial’s Anthony Curcio represented the tenant.
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Paris Baguette picked Philadelphia for its first airport location, the Philadelphia Business Journal reported. The store, set to open at Philadelphia International Airport’s Terminal C, will also be its 300th in North America.
CONSTRUCTION AND DEVELOPMENT
Drexel University is pursuing permits to convert the Arnold T. Berman Building at 219-225 N. Broad St. into 90 apartments as it looks for somebody to buy the property, The Philadelphia Inquirer reported. The 11-story building in the College of Medicine doesn’t fit into the school's efforts to reconsolidate in West Philly.
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The owner of 1015 S. Third St. has received a permit to build 63 units, JackPhillyRE reported. Blue Bell-based Summer Corner LLC bought the property from LYC Investments for $3.5M in February, property records show.
THIS AND THAT
An exhibit commemorating the 1876 world’s fair in Philadelphia is coming to the Lits Building at Eighth and Market streets this summer. The Center City District Foundation project was designed by Drexel University’s Lenfest Center for Cultural Partnerships, IS Architects and Art Guild.
FINANCING
Foresight Affordable Housing secured an $11.7M loan for renovations to its 76-unit Vineland Gardens complex at 775 S. Sixth St., the Courier Post reported. A subsidiary of Churchill Stateside Group arranged the funding.
