Second Life: East Market Looks to Bring Hip Office Hub to Midtown Village

The new look building at 34 South 11th Street | Courtesy: SSH Real Estate

The new look building at 34 South 11th Street | Courtesy: SSH Real Estate

While much of the talk around the East Market mega-project as been about the digital signage, the renderings and the demolition, there is actually one component that has flown a little under the radar–the redevelopment of the former Family Court building at 34 South 11th Street.

The building will get a fancy new facade treatment from Morris Adjmi, but let’s check out what’s going to be under the hood, so to speak. The city’s first MOM’s Organic Market will be topped by 160,000 square-feet of creative office space aimed at developing Midtown Village/Market East into a vibrant live, work and play neighborhood–possibly even into the city’s tech hub. “It’s the type of space you normally can’t find two blocks from City Hall,” said Peter Soens, partner at SSH Real Estate. The firm is in charge of leasing at the building and part owner of the East Market project along with by National Real Estate Advisors, JOSS Realty Partners LLC and Young Capital LLC.

Usually, the cool-kid warehouse office space scene is reserved for the smaller boutique setups or the outskirts of the Center City in converted industrial buildings. Read more »

Headlines: Developers to the State, You Know What’s Cool? A Billion Dollars

We just love highlighting all the big-time developments in this city. Hell, we devoted almost an entire issue to the “New Boom” back in March. But how do projects like the W Hotel, East Market The Gallery, the SLS International Hotel & Residences and even the Divine Lorraine get funded? A decent amount of it oftentimes comes from matching funds from the state in the form of Redevelopment Assistance Capital Program (RACP). In fact, Joe DiStefano of The Inquirer reports that “developers, corporations, colleges, hospitals and towns” have requested over $1 billion in funds from the state. Last year, Gov. Tom Corbett saw $1.1 billion in requests, but only “funded $207 million of projects.”

Philly alone at 66 requests, some goodies from this year include:

Highlights from the ‘burbs include:

DiStefano reports that Gov. Tom Wolf is actually seeking more requests for RACP funding. Check out the full list at the link below.

Developers ask Penna. for $1 billion+ [The Inquirer]

More Headlines For Your Enjoyment!

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The Secret Plans for The Gallery Have Finally Been Revealed

Is that The Gallery? No. It's the Fashion Outlets of Philadelphia | Image courtesy of PREIT

Is that The Gallery? No. It’s the Fashion Outlets of Philadelphia | Images courtesy of PREIT

Welp, the genie is now officially out of the bottle. PREIT and Macerich have finally come forward with their vision for The Gallery and it’s full of windows, digital signage, stark white floors, glassy escalators and 125 new restaurants and higher end shops, albeit it probably their discount lines. Hell, it won’t even be called The Gallery anymore. No, it turns out that Fashion Outlets of Philadelphia rebranding bit was true after all. It really is the end of The Gallery as we know itRead more »

East Market Update: Crews Testing Terra Cotta Panels on Site

Whether you live in the city or just stalk it on Instagram (#phillyscape, ya’ll), there’s a good chance you’ve seen the incredible demolition efforts going on at the site East Market project between 11th and 12th on Market Street. It’s captivating. Well, it’s not going to stay that way forever. In fact, the movers-and-shakers of the project are starting to test the building materials on site, as reference in the above tweet.

A representative tell us that this panel is is a sample of the terra cotta that will be at the base of the two retail podiums at East Market. BLT Architects is in charge of the design, which will completely change Market East as we know it. Phase one is expected to cost $230 million and includes 322 residential units above the retail component. Need a refresher about what it’s going to look like? Here’s a fancy gallery for you: Read more »

6 Philly Development Projects That Are Springing Forward

Now that we’ve all had a chance to adjust to that that whole spring forward phenomenon, let’s take a few minutes to look at a handful of projects that are making progress as we officially head into spring. Remember, you’re not losing an hour of precious sleep, you’re gaining another hour of glorious sunlight!

Comcast Innovation and Technology Center:

 

Sure, the near-record breaking concrete pour at the turn of the year may have garnered all of the attention, but that’s winter type stuff. Spring will see the city’s soon-to-be-tallest building rise higher and higher out of the large hole at 19th and Arch. To be frank: that’s exciting. Comcast has recently said they’re going to take up all of the office space within the building and it’s possible that it’s not the last one in the area for the cable goliath. Don’t forget: the Four Seasons will also become one of Philly’s most exclusive hotels as it moves from the Parkway all the way up to the top floors of the CITC.

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MOM’s Organic Market Is Coming to East Market

east market rendering detail

Detail from one of the East Market renderings. Courtesy National Real Estate Development.

There’s a new grocery story coming to Center City. While all of the buzz is generally around Whole Foods and Trader Joe’s, East Market, the game- and name-changing development between 11th and 12th on Market, has signed on MOM’s Organic Market to anchor 16,000 square-feet of space in the building at 34 S. 11th Street. The building will also feature 160,000 square-feet of hip, warehouse-style office space.

MOM’s Organic Market marks the first retail tenant for the East Market development.

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Photos: Strawbridge’s Becomes Century 21

Century-21

Yesterday morning I went to take a look at what was once Strawbridge and Clothier and is now Century 21 — not a real estate agency, but the Gallery’s new 100,000-square-foot anchor store. Our sister site Shoppist has plenty of information about names you’ll find (Milly, Y-3, Tumi, Le Creuset, etc.) and where you’ll find them (first floor or second). I didn’t take notes on that because I was too obsessed with looking for, and finding, historical details that might ricochet me back to the days when Strawbridge’s was still a thriving entity. After all, that was an important part of Philadelphia’s history. In 1996, when the company was passed from the Strawbridge family hands to the May company, the New York Times published what amounted to a eulogy, “Philadelphia Keeps Strawbridge Name but Loses a Retail Tradition.”

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East Market Project Gets Infusion of Funds

east market rendering detail

Detail from one of the East Market renderings. Full versions below. Courtesy National Real Estate Development.

Gov. Tom Corbett has just given the East Market project a $2.5 million shot in the arm, bringing the total state monies invested so far to $10 million. The city, according to a release that went out today, will spend $4 million to spruce up the area in question, once known as Market East (which previously had a train station known as Market East as well, but now known as Jefferson. Quiz later).

The project is that massive reinvention of, er, The Area Formerly Known As Market East. From the release, here are the latest details:

The funding will help support the first phase of development for East Market, estimated to cost $230 million. This initial phase encompasses 1100 Market Street, including new construction of a mixed‐use development consisting of 107,000 square feet of new retail with frontage on Market Street and a 322-unit apartment building above the retail space. There will also be a new parking garage for 201 cars and a centralized loading facility to service this and future phases of the East Market development, all below grade to minimize traffic impacts and support the pedestrian-centric plans. Also included in this first phase is 34 South 11th Street, former home of the Family Court. This building will be transformed into 150,000 square feet of new office space and an additional 44,000 square feet of ground floor and second floor retail space.

East Market is owned by National Real Estate Advisors, JOSS Realty Partners LLC, Young Capital LLC and SSH Real Estate and is supported on this project by IBEW, NECA and NEBF.

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Renderings for East Market Project Released

east market rendering detail

Detail from one of the East Market renderings. Full versions below. Courtesy National Real Estate Development.

Here are the renderings, by BLT Architects, of the East Market development slated for the four-acre parcel between Market and Chestnut, 11th and 12th. Unlike other ill-fated projects in this location, it seems as though this one will actually happen — no small thanks to Union boss John Dougherty (of whom we’ll say more later).

A key feature of the project, as you can see from the renderings, is to incorporate about 9,600 square feet of digital (and static) signage. That’s a lotta bling.

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Morning Headlines: Vaguely Plausible Plans to Demolish, Build at 11th and Market

11th and Market, facing west.  Photo credit: Google Street View.

11th and Market, facing west.
Photo credit: Google Street View.

Philadelphia’s stagnating retail corridor on the east side of Market Street might finally get a major wake-up call, and we’re not talking about the Gallery. Instead, the owners of the drab strip of stores on the block between 11th and 12th have secured new backing from IBEW and National Real Estate Advisors that makes their plans for the block seem like they might finally come to fruition. The stores currently on the 1100 block have been cleared out for demolition in July, to make way for a development named East Market.

Restaurants, entertainment, fashion stores, and even grocers will be included in the new project, but here’s a more elaborate description by the Inquirer’s Joe DiStefano:

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