9/27/2010

Philly Developer May Bank $100 Million in State Funds

Philadelphia developer Bart Blatstein of the Piazza and other developments in Norther Liberties may be the recipient of almost $100 million in state money to fund his proposed shovel ready projects for Northern Liberties.  Blatstein is set to receive $45 million for a new hotel-mixed-use project near his Piazza at Schmidt's development; $25 million to build an 86-suite, boutique hotel at Second and Poplar Streets; and another $25 million to redevelop a state office building at Broad and Spring Garden.  Of course with all this state money being thrown around there are bound to be critics.  Some believe that in the midst of a state recession and steep cuts in social-service programs and funding for libraries and state parks, these capital dollars should go toward public projects.  Blatstein believes these projects will create lots of jobs and tax revenue, fueling future development in developing neighborhoods.


I personally am all for it!  Although our transit projects (City Hall Station) need a lot of money as well as projects like the Free Library expansion and Dilworth Plaza renovations.  There is hopefully enough money to go around for everyone to get a piece of the pie.

Check out philly.com for more

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