Center City
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Center City Startup Connects First-Time Investors With Advisors, Making Financial Advice More Accessible
Founded by Mical Jeanlys-White, Center City tech startup WealthMore connects first-time investors with advisors to make financial advice more accessible, writes Joshua Sidorowicz for CBS News Philadelphia. “The vast majority of wealthy people have access to a wealth advisor, and that access means they grow two to three times more wealth,” said Jeanlys-White. “WealthMore is…
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Philadelphia’s Largest Office Property to Go Up For Sale, Conversion Likely to Follow
Centre Square, the largest office property in Philadelphia, will soon go up for sale two years after it was foreclosed, writes Noah Zucker for BisNow. After the building at 1500 Market Street was foreclosed in the aftermath of the crowdfunding scandal involving Nightingale Properties CEO Elie Schwartz, CBRE became the court-appointed owner. According to Green…
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Comcast Fights Back to Keep Internet Customers with New Guarantees and Perks
Philadelphia-based Comcast has been exploring ways to reverse its internet customer exodus, which includes price guarantees and a free mobile line, writes Lizzy McLellan Ravitch for The Philadelphia Inquirer. For years, Comcast has been losing more cable customers than it has been adding, and more recently, it has also started losing broadband internet customers. The…
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MSC Launches Marketing Push for Reimagined Retail Space in Wanamaker Building
MSC has begun its marketing effort to promote 300,000 square feet of reimagined retail space within the historic Wanamaker Building to prospective tenants, writes Paul Schwedelson for the Philadelphia Business Journal. Macy’s vacated the first three levels of the building earlier this year, which was a major setback to the struggling Market East commercial corridor.…
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WSJ: Comcast Reports Q2 Revenue Growth Driven By Xfinity Mobile Surge, Orlando Theme Park Opening
Comcast has reported second quarter revenue growth, driven by a rise in Xfinity Mobile subscribers and the opening of a new theme park in Orlando, writes Josie Reich for The Wall Street Journal. Revenue increased by 2.1 percent compared to the same period last year, reaching $30.3 billion and surpassing analyst expectations. Adjusted profit also…
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Philadelphians Fight to Save the Wanamaker Holiday Experience. Join in the Fun.
You know, two people yelled at me this week. But what I read in The Philadelphia Inquirer absolutely and wonderfully made up for it. A plan is taking shape to maintain the Wanamaker Christmas Light Show and Dickens Village. Does anybody else hear Queen singing “We are the champions, my friends…”? No? Just me? That’s…
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Comcast Increases Peacock’s Monthly Rates, Its Biggest Since Launch
Comcast recently announced it is raising the price of Peacock to subscribers, effective July 23, writes Lucas Shaw for Bloomberg. As of July 23, Peacock will be raising its price by $3 a month for new customers, representing a nearly 38 percent increase. New subscribers who have the version with advertisements will see their monthly…
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PMC Property Group Closes In On Acquiring Ten Penn Center, Plans Conversion
PMC Property Group, the largest apartment owner in Philadelphia, has closed in on acquiring Ten Penn Center, write Ryan Mulligan and Paul Schwedelson for the Philadelphia Business Journal. The potential acquisition comes more than six months after the 27-story office building was placed on the market. At the time, the building was 60 percent occupied.…
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Wanamaker Building Conversion to Include Several Attractive Features and Amenities
Just over a month after officially completing its acquisition of the Wanamaker Building, TF Cornerstone has provided more details on what its conversion will look like, writes Noah Zucker for BisNow. The city recently issued a permit for the project. The permit unveils plans for the development. This includes two rooftop decks and a swimming…
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Wall Street Journal: Comcast Selling Sky Deutschland to Germany Media Group in $617M Deal
Comcast has announced it is selling Sky Deutschland to RTL Group, which is part of German media group Bertelsmann, write Najat Kantouar and Adrià Catatayud for The Wall Street Journal. This $617 million deal, to which RTL will pay up to 527 million euros, comes amidst the growth of streaming platforms in media company throughout…
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WSJ: Comcast Locks In Rates to Stop Subscriber Slide Amid Wireless Competition
Amid fierce competition, Philadelphia-based Comcast is among the cable and wireless providers offering price-lock guarantees to retain existing subscribers and attract new ones, writes Patience Haggin for The Wall Street Journal. Comcast, along with Verizon and T-Mobile, promises its users steady rates for up to five years. Cable companies face growing challenges to retain internet…
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Philadelphia’s Mütter Museum Courts Controversy Due to Differing Views on Its Human Remains Collection
Philadelphia’s Mütter Museum has been courting controversy as supporters and new management clash over differing views on its human remains collection, writes Rachel Monroe for The New Yorker. Though clinically described as a museum of medical history, the Mütter is far from typical. Its dimly lit rooms feature specimens of physical anomalies, from stillborn fetuses…
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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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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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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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TF Cornerstone, Now Sole Owner of Historic Wanamaker Building, Reveals Conversion Plans
New York City real estate developer TF Cornerstone has officially solidified its full ownership of the historic Wanamaker Building in Center City, writes Noah Zucker for BisNow. After initially purchasing the building’s first three floors in 2019, the developer later acquired the fourth through 12th floors and 660 parking spaces in its underground garage last…
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Philadelphia’s Oldest Tavern Expands with New Center City Retail Store
McGillin’s Olde Ale House has expanded its footprint with a permanent retail store in Center City, just one block away from the 165-year-old bar and restaurant, writes Emma Dooling for the Philadelphia Business Journal. The 500-square-foot space is near the site where McGillin’s operated its temporary Holiday Pop Up Shoppe for the past two years.…
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