The Inquirer reports that real estate developer Bart Blatstein sold 60 percent of his Northern Liberties holdings – including portions of Piazza at Schmidt’s and Liberties Walk at Schmidt’s – to a New York investor group. Blatstein’s original investments in those properties are said to have turned the once “scruffy neighborhood into a hip destination.” The purchase price is unknown, but the property is thought to be valued around $130 million. Blatstein said selling his controlling interest in the two properties will allow him to focus more on his casino proposal.
Yesterday PlanPhilly’s Jared Brey reported, “Each of the six newest members of City Council introduced resolutions Thursday morning calling for Council’s Committee of the Whole to hold hearings on various aspects of the city’s tax delinquency epidemic.” The resolutions call for six separate hearings on the “big picture,” delinquent vacant property, delinquent commercial property, delinquent residential investment property, delinquent owner-occupied property and national best practices for tax collection. This is the latest development in the city’s tax delinquency saga, which PlanPhilly has been tracking in partnership with the Inquirer.
Newsworks reported Parx Casino has stepped in to sponsor and save the annual Philadelphia bicycle race, which will now be the Parx Casino Philly Cycling Classic. In an effort to make the race as entertaining for the bystanders as the bicyclists, this year’s race may see a route change. Another key change, the prize money for the women’s race will now be equal to the prize money offered to the male cyclists.
Be sure to check your mailbox tomorrow and every Saturday after that for the next few months. Starting in August, you’ll only have memories of Saturday mail. The United States Postal Service (USPS) has announced it will discontinue mail delivery service on Saturdays as of August in hopes of saving $2 billion annually. USPS will continue to deliver packages on Saturdays.