Here's what we're reading this week about the projects, people and policies driving local development:
Philadelphia Business Journal: Lubert Adler has lined up over $345 million in a new fund to purchase distressed commercial properties, with an eye to purchase properties and then reinvigorate them with new tenants, analogous to the wide purchase of distressed residential real estate during the Great Recession
by Natalie Kostelni, September 13, 2021
Inquirer: Inga Saffron discusses why a purpose built station for intercity buses is a key missing piece of infrastructure in Philadelphia, but it doesn’t have to be missing
by Inga Saffron, Updated September 21, 2021
AP: The impact of material and labor shortages and delays in new housing construction impact smaller homebuilders more than larger, national homebuilders, and overall the number of new homes being built nationally slowing, while costs and sale prices continue to rise
by Alex Veiga, September 23, 2021
Plan Philly: City Council will be taking the lead in designating the allocation of $400 million in bond proceeds for the Council President’s Neighborhood Preservation Initiative, using the flexibility of local raised funding to address housing and commercial corridors in middle market as well as lower income neighborhoods
by Tom MacDonald, September 15, 2021
Philadelphia Business Journal: Philadelphia pulled out all the stops to attract the World Cup finals, which will take place the same year as the city celebrates the 250th anniversary of the signing of the Declaration of Independence in Philadelphia
by Ryan Mulligan, September 22, 2021
Philadelphia Business Journal: Citizens Bank is in the process of rebranding to Citizens as it expands its footprint in other regions, notably NYC and Florida, but will not be asking for a rebranding of the Philly’s home ball park
by Patty Tascarella, September 27, 2021
The National Housing Conference, founded in the New Deal era, looks at ways to rebuild homeowner rates, and decrease the homeownership and wealth gaps between majority and minority communities; this year’s conference sessions can be viewed here
by NHC.org
Philadelphia YIMBY: Pro-development site YIMBY reports that permits have been issued for a new hotel to go up on a tight corner site that had fallen into disrepair over the years, despite its central location
by Colin Lestourgeon, September 30, 2021