Brandywine Realty Trust is expecting to break ground in the fourth quarter on a 28-story mixed-use tower at 1919 Market St. in Center City. The building will have 270 apartments, about 25,000 square feet of retail and parking. The site is adjacent to the Independence Blue Cross building.
The Radnor, Pa., real estate investment trust plans to do the project in a partnership with a residential development company that it has yet to name, said Jerry Sweeney, president and CEO of Brandywine Realty Trust (NYSE: BDN). It will be an arrangement similar to the one it struck with Campus Crest Communities Inc. (NYSE: CCG) to develop a 33-story, 850-bed student housing building called the Grove at Cira Centre South at 30th and Chestnut streets in University City. That project is under construction.
Source: Philadelphia Business Journal
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