Construction Underway Along North Broad Street For New Buildings That Will House Luxury Apartments, Businesses
By John McDevitt
PHILADELPHIA (CBS) -- There was a time when real estate developers wouldn't have dreamed of investing in projects along north Broad Street. That isn't the case any longer as plans to revitalize the corridor continue to strengthen.
Work has begun to transform two parking lots at Broad and Callowhill into two buildings that will house luxury apartments and stores.
Digging is underway at two long time surface parking lots on the east and west side of Broad Street at Callowhill.
For decades the owners, the Parkway Corporation, were looking for redevelopment opportunities. Well President Robert Zuritsky says the right time is now.
"I think they are very significant development sites for the city because there's been a lot of activity off Broad Street, on both sides, and for some reason Broad Street has been kind of left out of some of that but now there is so much action," said Zuritsky.
Parkway Corporation partnered the Hanover Company for the mixed-use project will include more than 300 apartments, retail space and 370 parking spaces. Completion is targeted for the end of next year.