Real estate/ Development Roundup: Toll Brothers breaks ground, PA Ballet and Viridity Energy move, Chelten Plaza zoning maneuvers, Barcade opens
Good morning, Streeters. For your Tuesday Buzz, here’s a roundup of real-estate and development news.
Who said residential development was dead? Toll Brothers is breaking ground on 66 townhouses in Grays Ferry, across from its Naval Square development. The Business Journal reports the $31-million project will be called 2400 South. Toll Brothers is in the also in the early stages of development at the Stamper Square/New Market site.
The Pennsylvania Ballet is moving to a new home at 321 N. Broad Street, the Inquirer reports. Today the PA Ballet will announce plans to build a complex for their offices and studios, by renovating a former garage and demolishing one building. The move will permit the Ballet’s facilities to be in one place, and allow them to bring back a ballet school. The Ballet has raised about $11 million for the $17.5 million project.
Viridity Energy moved from Conshohocken to new offices at 10 Penn Center last week. Flying Kite reports the growing, local renewable energy company was drawn to 10 Penn Center because of easier travel for staff and clients, the need for more space, and 10 Penn Center’s LEED Gold certification.
Chelten Plaza has a friend in City Council, reports Amy Z. Quinn for Newsworks/PlanPhilly. Councilwoman Donna Reed Miller introduced legislation to change the Germantown Avenue zoning overlay in a way that would allow the controversial Dollar Tree to be built “as of right” at Chelten Plaza. Miller’s move would permit “general merchandise” stores over a certain size within Germantown’s overlay boundaries, and would cut short the public hearings and zoning appeal. Spot zoning, anyone?
Barcade Philadelphia opened yesterday in a former electrical-supply warehouse on Frankford Avenue in Fishtown, The Insider reports. Exported from Brooklyn, Barcade pairs vintage arcade games with craft brews. Viva Ms. Pacman!
The Buzz is Eyes on the Street’s morning news digest.
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