‘Philly Fringe’ Festival to Settle in New Home by Fall

By Veronica Grecu, Associate Editor

A 10,000-square-foot red-brick structure at the corner of Race Street and North Columbus Boulevard is being transformed into the new home of Philadelphia Live Arts Festival and Philly Fringe, an annual festival that supports local, national and international artists of all disciplines and levels of achievement.

The former riverfront pumping station was acquired by the organization for $750,000, but the redevelopment effort is estimated to go as high as $5.2 million. President and Producing Director Nick Stuccio told PlanPhilly.Com that the organization has already gathered around 90 percent of that amount, and the remaining $1.5 million is underway.

The first phase of construction calls for a new theater with 240 seats, a studio, and administrative offices projected for completion by fall, just in time for this year’s Fringe Festival (September 6-21). By reaching this milestone, the organization hopes to use the structure’s wide-open spaces for regular art performances. According to Nick Stuccio, the building was in excellent shape and it was already zoned appropriately—this means that the organization can seek a liquor license, which would allow people to grab a drink and spend some time talking about the performances they have, or will, experience.

Phase two, which is expected to be completed by late spring 2014, will bring an indoor restaurant and bar and an outdoor plaza, as well as further upgrades for the 110-year-old building.

Photo courtesy of Google Maps

$160 Million Tower Adds to Student Housing Options in University City

By Veronica Grecu, Associate Editor

A University of Pennsylvania-owned site located at the corner of 30th and Chestnut Streets in Philadelphia’s University City district is being developed into a 33-story student housing tower in a team effort between Brandywine Realty Trust, Campus Crest Communities and Harrison Street Real Estate Capital.

Called The Grove at Cira Centre South, the project was designed to achieve LEED Gold Certification by local architect Erdy McHenry in consultation with master plan architect César Pelli. When completed, in fall 2014, the tower will serve students from various schools from the surrounding area, including University of Pennsylvania, Drexel University and several colleges and universities located in Center City Philadelphia and University City.

The project has a total cost of $158.5 million and it will be financed by a $97.8 million loan from PNC Bank, N.A., and Capital One, N.A. According to a press release from the development team, Campus Crest will act as property manager at the 850-bed upscale housing tower where leasing is expected to begin in fall 2013.

“We recognized the strong demand for graduate and undergraduate student housing in University City and selected Campus Crest for its proven operating platform and track record of success,” said Gerard H. Sweeney, president and chief executive officer of Brandywine.

Future residents will have access to a roof-top swimming pool, a media lounge, several study lounges, a 24-hour fitness center and hotel-like amenities such as coffee service, a library technology center and street level shops.

Rendering of The Grove at Cira Centre South via BusinessWire

New Holiday Inn Express Opens in Bensalem; Philadelphia Area Hospitality Industry Going Strong

By Veronica Grecu, Associate Editor

InterContinental Hotels Group (IHG), a global organization that operates nine major hotel brands, has recently opened a new hotel under the Holiday Inn Express flag in Bensalem, one of Philadelphia’s suburbs. Following extensive renovations, the property located at 1329 Bristol Pike directly off Interstate 95 and just 16 miles from Philadelphia’s historic district was rebranded from a three-story Hampton Inn facility into a top choice destination for business and leisure travelers.

The renovated property is in line with the $1 billion Holiday Inn global relaunch program, the largest project of this kind in the history of hospitality industry that focuses on arrival and welcome services, guestroom and guest bath comfort and a redesigned logo and signage.

Owned by 1329 Bristol Pike Associates and operated by Growth Properties under a license agreement with IHG, the new Holiday Inn Express Philadelphia NE – Bensalem features 141 fully equipped guest rooms and a wide range of amenities such as an outdoor pool, a 24-hour fitness center, a 24-hour business center and a meeting room.

“Holiday Inn Express is a fresh brand that we believe fits well with the needs of visitors to the Philadelphia area,” said IHG General Manager Joanne Johnston in an official statement.

The new Holiday Inn Express opening points to at least four new hotels that are under development or in the early stages of design or approval in the city. According to the Philadelphia Inquirer, the newest hospitality project is a proposed 150-room Hotel Indigo planned by IHG for the Bailey Building at 1218 Chestnut Street and scheduled for opening in the first half of 2014. Two more hotels are expected to open toward the end of the year: a 246-unit Home2Suites at 12th and Arch Streets and a 172-room Courtyard by Marriott at the Navy Yard, while the city’s largest proposed hospitality project, a W/Element Hotel at 1441 Chestnut Street, will feature 700 guest rooms.

When completed, all four hotels would add nearly 1300 rooms to Philadelphia’s inventory of 11,600 rooms. Also, with the new hotel tax of 15.5 percent that will come into effect on July 1, the city is expected to gain 3 percent or 50 cents per room night in additional revenue.

Holiday Inn Express Bensalem photo via www.hiexpress.com

Chart courtesy of Marcus & Millichap Research Services

Penn State Approves Multi-Million Dollar Renovation, Construction Plan for EEB Hub Complex at the Navy Yard

By Veronica Grecu, Associate Editor

A $39 million renovation and construction plan for the Energy Efficient Buildings (EEB) Hub headquarters building complex at the Philadelphia Navy Yard was approved last week by Penn State’s Board of Trustees. The project, which is funded by a combination of grants coming from the state, the U.S. Department of Energy (DOE) and the Economic Development Administration (EDA), targets renovation of the existing headquarters building and the construction of a new facility to provide more research space for EEB Hub’s effort to find new technologies and tools to make commercial and residential buildings more energy efficient.

Created in 2011 by Penn State researchers with the help of $159 million in grants, the EEB Hub is currently headquartered in Navy Yard’s Building 661, a 38,000-square-foot facility completed in 1946 which was left vacant since 1996, when the former Navy Yard recreation center was shut down. Under plans designed by Philadelphia-based architecture firm KieranTimberlake, the building’s main entrance and lobby will be renovated, and the east portion of the building will be reorganized into conference rooms, office spaces and support areas. An Immersive Construction (Icon) Laboratory and a 120-seat symposium will be created on the second floor.

A new building will be constructed directly across the street from Building 661, on an undeveloped 1.05-acre parcel which was acquired by Penn State from the Philadelphia Industrial Development Corporation for $1. The new structure named Building 7R will include several sustainable features such as passive solar shading, geothermal wells and a storm water management system which will collect water from the building’s green roof and direct it to a sculptural field of Pennsylvania slate and boulders, then use it to irrigate the landscape and flush toilets. The 25,200-square-foot Building 7R will include training classrooms, support spaces, and a two-story lecture hall with 180 seats.

Rendering via www.eebhub.org

Bucks County Medical Building Achieves LEED Certification

By Veronica Grecu, Associate Editor

The U.S. Green Building Council (USGBC) has awarded Leadership in Energy and Environmental Design (LEED) certification to a 12,000-square-foot medical office building owned by Lower Bucks Pediatrics, a family-oriented pediatric medical practice in Bucks County, Pa.

Real estate investment and development company Matrix Development Group of Cranbury, New Jersey, constructed the facility under plans designed by Norristown-based architecture and planning firm Barton Partners as part of a retail and residential community called Octagon Center. The 186-mixed-use community spreads between Lower Makefield Township and Middletown Township and was purchased in December 2006. Since then Matrix has been working with government agencies and township leaders to develop the community. Lower Bucks Pediatrics acquired the medical building upon completion, in 2011.

“From the beginning, Lower Bucks Pediatrics was determined to make this an energy-efficient property, which is in line with Matrix’s own commitment to sustainable development practices. Ultimately we were able to identify a solution to deliver a dynamic facility that is environmentally responsible while providing Lower Bucks Pediatrics with significant cost savings on energy consumption,” said Richard F.X. Johnson, senior vice president of Matrix Development Group, in a press release by the company.

The facility’s advanced HVAC system design will allow the owners to save at least 35 percent in energy costs compared to the USGBC baseline, while efficient low-flow fixtures and additional thermal comfort controls will result in a 30 percent reduction in water use.

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