Parkway Announces Another Project to Drive Revitalization on North Broad

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Parkway Corporation is pleased to announce a new development at 510 North Broad Street. This investment is reflective of Parkway’s enduring commitment to Philadelphia and to helping drive the revitalization of the city’s emerging sub-markets.

We continue to invest in Philadelphia to contribute to accelerating the vitality of our city.

Parkway Corporation, a Philadelphia-based real estate developer, investor, and best-in-class parking operator, is pleased to announce a new development at 510 North Broad Street. This investment is reflective of Parkway’s enduring commitment to Philadelphia and to helping drive the revitalization of the city’s emerging sub-markets.

“We are thrilled to invest further in the North Broad Street corridor. This development will anchor and drive the many other efforts, civic and private, to bring to fruition the dream of a live/work/play environment here,” said Robert A. Zuritsky, Parkway’s president. “We continue to invest in Philadelphia to contribute to accelerating the vitality of our city.”

Parkway’s portfolio consists primarily of owned parking and mixed-use assets in central business districts across the US and Canada, including nearly 19,000 parking spaces in 74 surface and structured parking assets integrating hotels, multi-family, office, and retail. The company has been involved in a wide spectrum of real estate projects.

This major mixed-use development will include street front retail, office, and public parking. “We are bringing to North Broad Street the unique opportunity for office tenants to create a signature presence in the city with the availability of up to 42,000 square foot floor plates and Class A amenities,” notes Sal Farruggia, Parkway’s Vice President of Real Estate Development.

The project serves to enhance the growing real estate development linkage between the Broad and Spring Garden community and the city core. It will also strengthen the existing re-vitalized urban components, such as the Rail Park, and the surrounding successful adaptive real estate re-uses. Another new mixed-use development, Hanover North Broad, is fortifying the gateway to North Broad Street. This joint venture between Parkway and the Hanover Companies is well under way at Callowhill Street and features retail, apartments and parking in two buildings.

Joe Zuritsky, Parkway’s chairman highlights that, “We hope to keep ‘wind in the sails’ of the faithful organizations that are working to bring the dream for this area to reality. They include the Center City District, the North Broad Renaissance Group, the Spring Garden Community Development Corporation and institutions like Temple and the Community College, to name a few.”

Parkway continues to develop new business in existing portfolio cities and in various emerging markets across the US and Canada.

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About Parkway Corporation

Parkway Corporation is a real estate developer, investor, and best-in-class parking operator with deep expertise that adds undiscovered value in paid parking. More information about the company is available at http://www.parkwaycorp.com.

For more information or a sample copy, contact:
RJ Juliano | rjuliano(at)parkwaycorp(dot)com | 215.640.3807 or
John Zemet | jzemet(at)parkwaycorp(dot)com | 215.575.4004

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Megbeth Knowles
Parkway Corporation
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