Center City
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Vast Collection Prominently Featuring Reading Terminal Market Finds Permanent Home at Penn Libraries
A one-of-a-kind collection — notable for its size, scope, and prominent focus on Philadelphia’s historic Reading Terminal Market — has found its new permanent home at the Penn Libraries, writes Louisa Shepard for Penn Today. Acquired by David K. O’Neil, a Penn alum who managed operations at Reading Terminal Market for a decade, the collection…
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Center City Undergoing $1.2B in Real Estate Development Activity, New Report Provides Breakdown
Center City District has released its latest Center City Real Estate Development Report, which provides an overview of the $1.2 billion in development activity taking place in the area. There are a total of 66 major development projects in Center City Philadelphia that are either completed, under construction, or in the planning stages. Center City…
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Mitchell & Ness Displays Renewed Commitment to Philadelphia With Major Announcements
For Mitchell & Ness, 2025 is a year of new beginnings as the vintage sports apparel company has made three major announcements, writes Jake Blumgart for The Philadelphia Inquirer. The company has announced that it will be moving to a larger location in Center City, more specifically at the 16,000 square-foot retail space on Walnut…
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After Historic 2024, Center City’s Housing Boom Expected to Drop Drastically This Year
Center City saw a record amount of housing production in 2024, but that pace is expected to drop considerably this year, writes Paul Schwedelson for the Philadelphia Business Journal. A number of developers began angling to receive permits before the 10-year tax abatement and low interest rates were scaled back by the end of 2021.…
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Center City District Officials Credit These Two Factors for Helping Revitalize Downtown Philadelphia
Five years after the pandemic, Center City District is continuing its revitalizing efforts and these efforts have been boosted by two key factors, writes Conner Barkon for KYW Newsradio. Thanks to new housing that has been constructed in the area, there has been a boost in population that has helped greatly. According to Philadelphia Department…
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Find Out How Much Revenue Center City Hotels Gained from Eagles’ Super Bowl Run
Hotels in Center City gained a significant boost from the Philadelphia Eagles’ Super Bowl run during what is typically a slow period, writes Michael Tanenbaum for PhillyVoice. The Eagles’ Super Bowl parade brought occupancy to 90 percent, gaining an additional $4.3 million in revenue for the hospitality industry over that weekend, which coincided with Valentine’s…
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Insurance Giant to Join Center City Skyline With New 18-Story Philadelphia Headquarters
Chubb, the insurance giant, is set to be the newest member of Philadelphia’s skyline in Center City, writes Ryan Sharrow for the Philadelphia Business Journal. Parkway Corp. is developing a new 18-story, 438,000-square-foot headquarters for Chubb, which is expected to be completed in the second quarter of 2026. The insurance giant is expected to have…
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Philadelphia is Home to 2 of America’s Most Romantic Restaurants
Two Philadelphia restaurants are among the most romantic in the nation, according to a new ranking by OpenTable, write Max Bennett and Eric Heyl for the Patch. Just in time for Valentine’s Day, the notable reservation service released this year’s Top 100 Most Romantic Restaurants in America list. The first Philadelphia restaurant on the list…
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The African American Museum in Philadelphia Announces Programming for Black History Month
The African American Museum in Philadelphia (AAMP) has announced its lineup of programming and events in honor of Black History Month, which this year is nationally themed “African Americans and Labor.” The 2025 theme delves into the vital contributions of Black people across the spectrum of work, skilled and unskilled, free and unfree, voluntary and…
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Historic Center City Building, Once Home to Philadelphia Elks Lodge, Hits Market for $5.75M
A historic Center City building, once home to the Philadelphia Elks Lodge and later the Salvation Army, is currently on the market for $5.75 million, writes Paul Schwedelson for the Philadelphia Business Journal. The three-story building at 1320 Arch Street, facing the Pennsylvania Convention Center, was built in 1905. Currently vacant, it offers potential buyers…
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Inside Philadelphia’s Newest Jazz Lounge and Gaming Destination
Philadelphia recently opened its newest newest entertainment and music venue, and it is already a must-visit, reports Astrid Martinez for NBC 10 Philadelphia. Cellar Dog, a jazz lounge and gaming destination, is now open along South 15th Street. “Finding this spot in Center City, where there’s so much action, I think we’re just going to…
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Philadelphia-Based Brandywine Realty Trust Sells 23-Story Building in Arlington for $190.5M
Philadelphia-based Brandywine Realty Trust recently sold a mixed-use building in Arlington, Virginia, for $190.5 million as part of its continuous efforts to ease out of the Washington D.C. market, writes Michael Potter for the Philadelphia Business Journal. The sale of the 23-story building, which is the tallest building in Arlington’s Ballston submarket, comes more than…
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Philadelphia City Council Committee Vote to Approve Sixers’ 76 Place Arena Proposal
Philadelphia City Council committee members have voted in favor of advancing the proposal to build a new Philadelphia 76ers arena in Center City to the full City Council, writes Paul Schwedelson for the Philadelphia Business Journal. The favorable 12-4 vote overcomes a critical hurdle and comes after several delays. “This is an important next step…
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Amtrak Sets New All-Time Record for Number of Passengers
This year has been a record-breaking one for Amtrak as the national passenger railroad company saw its highest ridership numbers ever, writes Chris Morris for Fortune. Amtrak announced that it saw 32.8 million passengers taking trips on its trains in its 2024 fiscal year. That represents a 15 percent increase over its 2023 numbers, and…
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Philadelphia’s Aion Partners, Goldman Sachs’ Vintage Strategies Team Up for New Real Estate Venture
Philadelphia-based apartment owner Aion Partners has joined forces with Vintage Strategies at Goldman Sachs Alternatives and a global sovereign investor for a new $1 billion joint venture to acquire value-add apartments, writes Paul Schwedelson for the Philadelphia Business Journal. An additional $700 million will go toward renovating approximately 4,000 units at its Mid-Atlantic properties. Aion…
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Philadelphia Startup Regains Traction After Second Pivot in Intended Use of Smart Sensor Trackers
Philadelphia-based Microshare is regaining traction after shifting the usage for its smart sensor trackers for the second time, writes Ryan Mulligan for PHL Inno. Founded in 2013, the Center City startup originally focused on tracking occupancy in buildings such as offices with its smart sensor technology. However, when the pandemic struck and office buildings became…
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Bassetts Ice Cream Expansion to Asia Increases Iconic Shop’s Popularity
The iconic Bassetts Ice Cream in Reading Terminal Market, the oldest ice cream shop in America, has been expanding across Asia with the help of a little-known federal agency that makes international trade less risky, writes Kristen Mosbrucker-Garza for WHYY. Bassetts Ice Cream was the first business to sign a lease at Reading Terminal Market…
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New York Real Estate Firm Acquires Majority Debt on Historic Wanamaker Building
New York-based TF Cornerstone has acquired a majority of the debt on the historic Wanamaker building and is now moving to seize the property from Rubenstein Partners via foreclosure, writes Paul Schwedelson for the Philadelphia Business Journal. The real estate firm’s acquisition of the loan has shifted the dynamics of the building’s ongoing foreclosure case.…
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