From the Center City District Report
2400 MARKET STREET
DEVELOPER:
PMC Property Group and Lubert-Adler
LOCATION:
2400 Market Street
SIZE:
950,000 sf
RESIDENTIAL UNITS:
325
START DATE:
February 2016
COMPLETION DATE:
2018
STATUS:
Under Construction
INVESTMENT:
$230 Million+
DESCRIPTION:
A partnership consisting of PMC Property
Group and Lubert-Adler purchased Marketplace
Design Center for $42 million in April 2014. The
property consists of two buildings, 2400 Market Street
with 370,000 sf, and 12 South 23rd Street, a six-story,
120,000-sf structure. The project is ideally positioned across from University City and 30th Street Station, and
close to Rittenhouse Square and the Central Business District. Once complete the project will help connect
Center City and University City along Market Street, leveraging public investments made along the Market
Street Bridge above and Schuylkill Banks. Plans call for the creation of a mixed-use complex by adding a
residential tower on top of the building, as well as the creation of retail and creative-class office space below
it. New retail space, totaling 65,000 sf, will be created for a grocery store, restaurant, and coffee shop.
http://www.centercityphila.org/docs/...pments2016.pdf