Funding for the project comes from a $1.6-billion estate gift, bequeathed to the Salvation Army by Joan Kroc, the late widow of Ray Kroc, founder of McDonald's Inc. The bequest is for construction of Kroc Centers in communities across the country, and the Philadelphia chapter is one of eight chosen for the nonprofit's Eastern territory. The award followed an 18-month-long competitive development application.
The amount awarded to this project will be announced next month. The chapter's application called for a total grant of $80 million, half for construction of the facility and half for a partial endowment. Phase II of the project's development will continue through 2006 and include finalizing of program plans, business and marketing plans, architectural designs and the launch of a private fund-raising campaign. The chapter hopes to complete the center by fall 2008.
Interviews and focus groups with community residents and leaders contributed to the initial draft of a program outline, and community input will continue to be obtained as plans are refined, according to Ron Hinton Jr., president of the Allegheny West Foundation, the neighborhood's non-profit community development corporation.
In October 2005, Michael O'Neill, Preferred's founder and chairman, told GlobeSt.com his company was eager to donate the land if the local chapter received one of the grants. "The arrival of the Salvation Army strengthens our vision of filling in the overlooked, ignored holes of real estate with new life, commercial opportunity and communal prosperity," he said. The donated parcel is on Wissahickon Avenue.
Budd Center now includes Temple University Health Systems, Fresenius Medical Care and GRM Information Services. In addition, an entity of Trump Entertainment Resorts has a five-year option to lease approximately 18 acres at the site if it obtains one of the casino licenses that will be granted by the state for Philadelphia.
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