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Callowhill Development Site, Approved for 162 Apartment Units, Listed Off-Market for $8M
A Center City development site that was previously approved for 162 apartment units is currently being listed for $8 million, writes Ryan Mulligan for the Philadelphia Business Journal. In 2021, permits were approved to build a 12-story multifamily structure on the 11,500-square-foot parking lot on Callowhill Street. However, the permits have since expired and would…
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McKissack & McKissack, Nation’s Oldest Black-Owned Construction Firm, Is All About Legacy and Excellence
McKissack & McKissack, the nation’s oldest Black-owned construction and design firm, has had a presence in Philadelphia since 1994, writes Noah Zucker for BisNow. Originally founded in New York City in 1905, the local office was founded during a time of stark contrast. While then NYC Mayor Rudy Giuliani was retreating from public contracts with…
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Philadelphia Landmark Buildings Gaining New Life, Thanks to Developers
Local developers gathered at the recent “Conversion City” event to discuss the opportunities and challenges involved in repurposing Philadelphia’s landmark buildings, writes Paul Schwedelson for the Philadelphia Business Journal. Leo Addimando, managing partner of Alterra Property Group, emphasized that the key to redeveloping older buildings is to expect the unexpected. “You have to assume that…
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Former Saks COO Targets $100M in Sales at Philadelphia-Based Voomi Supply Next Year
R.J. Cilley, former COO of Saks Fifth Avenue, has joined Philadelphia-based Voomi Supply as its new CEO and aims to build the company into a billion-dollar business, writes Ryan Mulligan for the Philadelphia Business Journal. While a jump from selling Prada, Cartier, and Gucci may not seem to have much in common with an industrial…
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Swiss Patient Returns to Penn Medicine Following Life-Changing Double Hand Transplant
Luka Krizanac, a patient from Switzerland, recently returned to Philadelphia for a visit to Penn Medicine, the hospital where he underwent a life-changing double hand transplant, writes Stephanie Stahl and Brad Nau for CBS News Philadelphia. For the first time in 17 years thanks to the transplant, Krizanac is able to text on his phone…
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Gina M. Slocum: Peirce College Graduate’s Journey to Commencement
Today’s feature is Gina M. Slocum, a graduate of the Master of Science in Healthcare Administration program at Peirce College. “The year was 2015, I faced a significant career setback when I was laid off, from my role as an office manager at a nonprofit organization. In that role, I not only managed the office but…
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Bachmann Trains, in Business Since 1833, Keeps Brand and Mission on Track from Kensington Headquarters
Bachmann Trains, in business since 1833, moved into its Kensington headquarters in 1929, where it continues to keep its mission and brand on track nearly a century later, reports Christie Ileto for 6abc. 1400 East Erie Avenue is the place where the Bachmann brothers were the first United States company to manufacture prescription sunglasses. After…
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Philadelphia Makes Significant Jump in Ranking of World’s Top Startup Ecosystems, Now Top 15
Philadelphia now ranks among the top 15 startup ecosystems in the world, writes John George for the Philadelphia Business Journal. The city jumped up 12 spots from last year’s rankings of the top 40 regions for startups, which was analyzed and compiled by Startup Genome and the Global Entrepreneurship Network. Philadelphia is now ranked at…
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Insurance Giant to Join Center City Skyline With New 18-Story Philadelphia Headquarters
Chubb, the insurance giant, is set to be the newest member of Philadelphia’s skyline in Center City, writes Ryan Sharrow for the Philadelphia Business Journal. Parkway Corp. is developing a new 18-story, 438,000-square-foot headquarters for Chubb, which is expected to be completed in the second quarter of 2026. The insurance giant is expected to have…
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Ballers Raises $20M Ahead of High-End Sports Concept Opening in Fishtown, More Locations Planned
Ballers, preparing to open its flagship high-end sports concept at The Battery in Fishtown, has raised $20 million in Series A financing to support its development pipeline, writes Ryan Mulligan for the Philadelphia Business Journal. The financing round was led by Sharp Alpha and RHC Group, both sports investment firms, along with new investors David…
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Philadelphia-Based Five Below, Along With Dollar Tree and Other Retailers, Purchase Over 150 Party City Stores
Philadelphia-based discount chain Five Below, along with Dollar Tree, acquired 148 former Party City locations as the party supply store — as part of its ongoing bankruptcy process — auctioned off 250 locations earlier this month, write Retail Brew and Alex Vuocolo for Fortune. The two competitors successfully bid on a combined 148 leases. The…
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Philadelphia Homebuyers Face More Competition Than Most Other Areas of the Country
Philadelphia area homebuyers, along with those across the Northeastern United States, face among the stiffest competition compared to other parts of the nation, writes Michaelle Bond for The Philadelphia Inquirer. This is according to a new Zillow analysis. The analysis, which looked at activity on its website in March, found that there are between five…
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Rodon Group in Hatfield Sees Major Gains from Trump Tariffs
The Rodon Group, a plastic injection molding company in Hatfield and one of the few U.S. toy manufacturers, is seeing major gains thanks to President Trump’s tariffs, write Nancy Chen, Joe Enoch, and Julia Doyle for CBS News Philadelphia. Every year, the plant produces billions of plastic parts, including window parts, beverage caps, and K’nex…
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Disney Ends Comcast Valuation Process, Will Pay $438.7 Million to Acquire Hulu
Disney will pay Comcast $438.7 million for a stake in Hulu, writes Lilian Rizzo for CNBC. This marks the end of a years-long valuation process that started when Disney announced its intent to purchase Comcast’s 33 percent stake in Hulu in 2023. Back then, Disney paid $8.6 billion, reflecting Hulu’s guaranteed minimum value of $27.5…
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Philadelphia Schools Replace Over 2,400 Old School Water Fountains With New Bottle Filling Stations
The School District of Philadelphia recently installed 2,404 new water bottle filling stations across schools across the city, writes Kristen A. Graham for The Philadelphia Inquirer. The installations is part of a solution for a major health risk. According to a 2022 analysis of district water sources conducted by PennEnvironment and various local nonprofits, 98…
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High-End Apartment Tower Near Rittenhouse Square Acquired for $138M
CBRE Investments has sold a 34-story apartment tower near Rittenhouse Square for $138 million, marking one of the largest multifamily sales in Center City in recent years, writes Paul Schwedelson for the Philadelphia Business Journal. The sale price equates to $431,000 per unit. The buyers were New York-based Cantor Fitzgerald and Norfolk, Virginia-based Harbor Group…
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Wistar Institute Opens New HIV Cure and Viral Diseases Center
The Wistar Institute recently celebrated a ribbon cutting for the opening of its new HIV Cure and Viral Diseases Center. The vision for the center is to uncover the fundamental science that powers tomorrow’s cures for HIV and other viral diseases. The belief is that revealing how viruses work and how the immune system responds,…
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Peirce College Graduate’s Journey To Commencement: Donna Payton
Today’s feature is Donna Payton, a graduate of the Bachelor of Science in Business Administration program at Peirce College. “In February 2022, I found myself feeling dissatisfied with my online experience at Liberty University. I shared my concerns with my husband, John Payton, who is a proud graduate of Peirce College. John, who earned his Bachelor of…
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