PHILADELPHIA—After working out a deal with city officials,Drexel University is scheduled to close on Mondayon the $25 million purchase of the former University CityHigh School.

|

On Thursday, the City Council approvedamendments to a bill regarding the zoning of the 14-acre propertythat limits future development building height to 65 feet. Theoriginal legislation set the height limit at 75 feet, according toPlanPhilly. The revised bill is expected to be voted on next weekprior to the City Council's close of session for summer break.

|

Drexel is looking to acquire the shuttered school property,demolish the buildings and replace them with a $1-billion mixed-usedevelopment of residential and commercial buildings.

|

Peter F. Kelsen, a lawyer representing Drexel,told the Inquirer, "We've been earnestly trying to talk to thecommunity about this as soon as we understood we had thetransaction. It's not being rushed. I think the parties workedclosely and diligently as we had before to try and reach anagreement."

|

Drexel has agreed to keep clean any undeveloped portions of thesite as it undertakes its redevelopment of the site and has alsoagreed to establish neighborhood-serving retail uses on LancasterAvenue and Powelton Avenue. See story at PlanPhilly.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.