Jacob Adelman Staff Writer
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Jacob Adelman covers acreage deals, retail trends and the accommodation business as the bartering absolute acreage reporter.
How a bill to bigger CHOP’s appearance may acreage a advance abutting to Fairmount Park May 23
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Developer PRDC affairs high-end rowhouse circuitous abreast Berks abuse base May 22
Amtrak resumes chase for 30th St. development ambassador with focus on shops, restaurants at base May 21
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Arts & Crafts Holdings, a development accumulation that has been snapping up backdrop arctic of Center City, has fabricated addition acquisition: the Citizens Coffer annex at Spring Garden Street and Ridge Avenue.
An Arts & Crafts associate paid $1.55 actor for the 2,300-square-foot coffer architecture on 10,700 aboveboard anxiety of land, according to annal filed with the City of Philadelphia.
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Marc Wiser of allowance Go Commercial, who represented Baltimore-based agent MMAC Backdrop LP in the transaction, said in an email that the new owners are anticipation to be planning to “wait, authority and again redevelop” the acreage at 1201 Spring Garden St.
Citizens Coffer spokesman Steve Sylven had no actual capacity on how continued the coffer advised to abide operating there. Craig Grossman, an Arts & Crafts accepted partner, said the aggregation does not altercate addressee leases and beneath to altercate affairs for the site.
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Arts & Crafts has acquired at atomic bristles aforetime automated backdrop in the area, near what could eventually be allotment of the Abuse Park planned forth the alone Reading Viaduct. It is in the action of affairs a vacant, city-owned lot amidst those properties.
Published: November 8, 2016 — 12:03 PM EST | Updated: November 8, 2016 — 12:53 PM EST
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