A select crowd had a sneak peak of Market East’s future during a construction update on Philadelphia’s former Gallery shopping mall.
Joseph Coradino, CEO of the Pennsylvania Real Estate Investment Trust, said demolition is nearly complete on the former shopping mall with construction expected to begin within the next few weeks.
“When it’s done, it will really serve as a powerful economic engine to create jobs, construction and permanent,” he said. “It will be a place unlike anywhere else in Philadelphia, a vibrant new social scene, flagship stores, designer outlet stores, dining entertainment in a centralized location.”
Gov. Tom Wolf attended the gathering, announcing a $10 million state grant to help close a funding gap in the project.
“The corridor leading from the Liberty Bell to City Hall has been dormant and stuck in time for many years, for too many years,” he said. “This project seeks to change that by investing $575 million into this site.”
Construction is expected to take about two years and create about 2,300 direct and indirect permanent jobs.