According to a tax return, the Philadelphia Theatre Company had a balance of $11 million on its mortgage when TD Bank foreclosed on the theatre. The theater company, which has been struggling financially due to operating and mortgage costs, received $5 million from the state and $3 million from the city to help construct its theater. The theater attached to Symphony House opened at Broad and Lombard in 2007.
Congratulations to James Dupree.
After a long fight with the Philadelphia Redevelopment Authority (PRA), the artist last week learned that he can keep his studio in the Mantua section of the city. The fight began back in 2012 when the PRA, citing the city’s eminent domain authority, seized his property and offered him what they considered a fair market value to vacate. Dupree disagreed on that. The PRA claimed, and still claims, that the area is a “food desert” and needed his block so that a private developer could build a supermarket. Dupree also disagreed. “Nothing could be further from the truth,” he said. “A developer could easily build around my studio or on the vacant block next to me.”
The reasons can be debated. But there’s one thing that requires no debate: The eminent domain process has to change. Eminent domain is defined as: “The power of the government to take private property and convert it into public use. The Fifth Amendment provides that the government may only exercise this power if they provide just compensation to the property owners.”
Last night, the new Icon 1616 luxury apartment building invited G Philly to host an intimate sneak peek at some of its living spaces. I invited a few well-dressed friends, and we sipped wine and champagne, enjoyed some nibbles from Brûlée Catering, and browsed through some of the units, which were staged by local interior designers Floss Barber, Carrie Leskowitz, and Carole Roach. Below, some photos from the evening.
The space will open to the public on for an Interior Design Showcase and Sweeps Open House on Saturday, May 31st. For more information, visit icon1616.com.
The Philadelphia Home Show has been kind enough to give Ticket readers a discount code for this weekend’s show at the PA Convention Center. The deal is that you get $4 off each ticket when you enter the code “PMAG,” or you can just click this link and let it do it for you. The total cost will be $9 per ticket.
This is the last weekend of the show, which, this year, is themed “Renew, Refresh and Restore Your Home.” If you’re in the process of revamping your digs, this may be a good opportunity. There you’ll find all kinds of vendors — from appliance folks and interior designers to people who will help you whip your garden or, if you’re like me, your postage-stamp patio into shape before spring.
If you’ve been itching to sing some ditties around the piano at Tavern on Camac (TOC), you better slip on your snow boots and head there pronto. The bar will be closing after tomorrow night for extensive renovations and won’t re-open till the beginning of March.
Plan Philly reports that City Hall is raising standards for building and demolition contractors starting in the new year. “The Department announced the new rules in a press release Monday afternoon. L&I has been working on the new requirements since the summer, said spokeswoman Rebecca Swanson. Additional information was provided in a code bulletin on the Department’s website. … Additionally, the Department reminded contractors that, under legislation introduced by Councilman Bobby Henon, they will now be required to post license numbers at job sites and on correspondence. They must also post permits and issuance certificates at job sites.”
NorthJersey.com reports on a lawsuit in which property owners say the real estate agents used their home for sex—even propping the asking price artificially high so the agents could keep having their naughty times.
- The Inaugural Stephen Starr real estate spelling awards.
- The Franklin Paine skatepark is open.
- The Roots mural gets a dedication date.
- Subaru might be moving its North American headquarters to the Navy Yard.
- Brewerytown is the next big thing?
Check out the week’s most interesting posts on Philadelphia magazine’s real estate blog, Property. University City has been without a liquor store since the Wine & Spirits shop closed on Market Street at 40th Street. But now comes word that a new state store will open in a mixed-use building spanning 43rd Street from Sansom to Chestnut.
- Awesome and affordable illustrations of Philadelphia buildings by Monica O.
- Center City building goes for $5.8 million at auction.
- Seaside Heights still has a ways to go to get ready for summer.
- Crazy-special Walgreen’s at old Borders on Broad Street will open in July.
- Rittenhouse Hotel renovation begins: Biecker to leave, Lacroix to stay.
Check out the week’s most interesting posts on Philadelphia magazine’s real estate blog, Property. Iron Hill is “re-evaluating its involvement in Ardmore and editor Liz Spikol imagines a world where Questlove and Stephen Starr bring Hybird to South Street.
- Iron Hill Brewery may pull out of Ardmore
- How much home do you get for $500,000?
- Former Sixers’ coach, Larry Brown’s $7.85 million Main Line estate is on the market
- Wouldn’t 6th and South be the ideal location for Questlove and Stephen Starr to open Philadelphia’s Hybird?
- Center City is going apartment crazy. Who is going to live in all these new apartments?