Also following the Kravco/Simon merger, Kravco withdrew from two formerly planned projects here in which Downtown Works would partner with the Philadelphia Redevelopment Authority. They are the $25-million revitalization of Progress Plaza shopping center and the $65-million Broadway Philadelphia complex, which is to include retail, entertainment and Temple University student housing.
Midge McCauley, director of Downtown Works for Kravco, retains that post with Dranoff. While at Kravco, she managed the retail development of Dranoff's Left Bank, a conversion of the former Pennsylvania Railroad freight depot into 282 apartment units in University City, and she is currently adding retail to Dranoff's Victor Lofts, a conversion of the Victor Talking Machine Co. building in Camden, NJ into a 341-unit apartment complex.
Asked if the move to Dranoff would re-ignite Downtown Works' involvement in the projects planned for north Philadelphia, McCauley tells GlobeSt.com, "none of that is in our hands. It's in the hands of the city, and the city knows we're out here." The redevelopment authority could not be reached for comment.
McCauley is a 20-year veteran of real estate development and redevelopment. Her career encompasses stints with Columbia, MD-based Rouse Co., and the CEO post at locally based Historic Landmarks for Living, which has a large portfolio of historic buildings that have been converted into luxury rental properties.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.