Dranoff Properties Moves Corporate Headquarters to Philadelphia’s Premier Arts District

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Carl Dranoff furthers his commitment to the redevelopment of South Broad Street by relocating corporate offices to 777 South Broad

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We are thrilled to house our corporate offices on the Avenue of the Arts, located within walking distance of Philadelphia’s finest performance venues, restaurants and shopping, said Carl Dranoff.

Carl Dranoff, president and CEO of Dranoff Properties, a premier developer and owner of luxury apartments and condominiums, is reinforcing his commitment to revitalizing South Broad Street by relocating the company’s corporate offices to the commercial space on the ground floor of 777 South Broad. Moving to the prominent corner of South Broad and Fitzwater Streets symbolizes Dranoff’s investments in the Avenue of the Arts district and emphasizes the area’s desirability for additional businesses and retail stores.

“We are thrilled to house our corporate offices on the Avenue of the Arts, located within walking distance of Philadelphia’s finest performance venues, restaurants and shopping,” said Carl Dranoff. “The street’s popularity is exploding as businesses, retail and restaurants open on the south-end of the Avenue, capitalizing on the available high-visibility commercial spaces between Lombard Street and Washington Avenue.”

Mr. Dranoff has been a vocal and passionate advocate for the revitalization of South Broad Street since 2004, most recently funding the “New Vision for South Broad Street” project to help raise awareness of the 20th anniversary of the Avenue of the Arts and position South Broad Street as an economic power house for the coming decades. Investing close to $250 million on South Broad Street alone, the Avenue of the Arts boasts two of Dranoff’s most premier properties, 777 South Broad and Symphony House. Soon it will also be home to its third luxury residential development at Broad and South Streets, Southstar Lofts, which is scheduled to break ground in March 2013. Through his high-end real estate development, active public support of the Avenue of the Arts, and now, the relocation of Dranoff Properties corporate offices, Mr. Dranoff has helped bring new residents, award-winning restaurants, retail shops, the Suzanne Roberts Theatre and numerous jobs to South Broad Street.

“South Broad Street holds the potential to become the most sought after destination in Philadelphia. With the foundation for greatness already in place, such as easily accessible public transportation, walkability, great architecture and high-end shops and entertainment, South Broad Street has the recipe for success,” continues Dranoff. “The future of the Avenue of the Arts is bright and I look forward to investing in new projects to enhance the city’s premiere arts and cultural district.”

Dranoff Properties committed to developing and implementing green initiatives and technology into its properties five years ago. 777 South Broad, where Dranoff Properties is now headquartered, is LEED Silver certified and offers “green” amenities, including providing complimentary bicycles to its residents through the Dranoff Bike Share program. Leveraging the new office location, employees are also encouraged to adopt a sustainable transit-oriented lifestyle, utilizing the subway and bus systems that are conveniently located near the new corporate office space.

Dranoff Properties was established in 1998 to create unparalleled residential destinations that transform and revitalize the urban core. Led by nationally recognized visionary and urban advocate Carl E. Dranoff, the firm specializes in developing character-defining projects that rejuvenate neighborhoods, cities, and regions. Over the course of fifteen years, the company has developed a portfolio of award-winning, nationally recognized projects. These projects are livable, walkable, sustainable communities that breathe new life and vitality into the community. The Dranoff portfolio of properties includes the preservation of historic buildings, the adaptive reuse of structures from the industrial past, as well as the ground up development of entire mixed-use communities. Please visit http://www.dranoffproperties.com for more information.

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Jade Trombetta

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