New mixed development planned for Philadelphia

Philadelphia – A new $500 million retail/residential development is reportedly planned for downtown Philadelphia. According to the Philadelphia Inquirer, a block of stores located on Market Street between 11th and 12th Street in Philadelphia will be razed or moved to make way for a new complex that will be known as East Market.



East Market will reportedly include two new store buildings facing Market Street with neon signs and 325 apartments located on the upper floors, as well as underground parking. The nearby Girard office building will also have stores placed on its first floor.



Developers and investors reportedly include National Real Estate Advisors, SSH Real Estate, McDevitt Co., Soens, Joss Realty Partners LLC, and Michael F. Young, owner of Classic Management Inc. Architect is BLT.