[ad_1]
Maserich’s bold move toward economic revitalization in Center City Philadelphia now has a new game plan.
When the NBA’s Philadelphia 76ers’ lease on the Wells Fargo Center expires in 2030, it will move downtown to a new arena that will take up a third of the Maserick Fashion District mall and try to increase momentum on Market Street.
“We are committed to building a world-class home in the heart of the city and creating a platform that will strengthen the ties between the local community and strengthen equity, inclusivity and accessibility,” said Josh Harris, 76ers managing partner.
Leading the effort is real estate wunderkind David Adelman, who invested $2,000 from his bar mitzvah money at age 13 into the campus apartments he is now CEO of. One of the company’s first major developments took shape at the University of Pennsylvania, where living standards improved and the crime rate in the University City neighborhood gradually decreased after its completion. With 10 years to go on the $1.3 billion project, Adelman said he envisions the result to be a new and revitalized Center City.
[ad_2]
Source link
