The tour group, organized by New York-based World Trade Centers Association and World Trade Center Hong Kong, visited political and economic development officials in Beijing, Shanghai and Hong Kong. "Anyone in business knows that China will play some role in their future. We're laying the groundwork for success for current and future Greater Philadelphia businesses," says Martin Schiffman, president of locally based Waterfront Renaissance Associates and a member of WTCGP's board.
WRA and WTCGP are affiliates of New York-based Carl Marks Real Estate Group and joint developers of the project. Schiffman is also a managing director of Carl Marks.
WTCGP also formed the operations club program. It is designed to enhance Chinese trading opportunities with businesses here by educating about such fundamentals as site selection, distribution channels, local finance and ownership structures. It is headed by Joanna Savvides, president of WTCGP, and WenhanTang, manager of market research and consulting.
A 42-story, 396-unit apartment building will be phase one of Philadelphia's WTC, which is expected to break ground this year. Also planned are three office buildings, beginning with the 18-story, 400,000-sf Tower One, and followed by two 42-story office towers. One will contain 800,000 sf; the other, 1.1 million sf. An aggregate of 118,000 sf of retail space is also in the WTC master plan.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
