Tower Investments Buys Inquirer Building

Bart Blastein of Tower Investments bought the home of the Philadelphia Inguirer and the Daily News from Philadelphia Media Network at 400 N Broad Street for $22.65 million.  Bart has plans to redevelop the 470,000-square-foot property, yet there is no word on what he intends to do with the site.

Odds are it involves perhaps a mixed use of office and residential with retail at its base, or completely residential conversion.  This falls in line with the developers expansion plans for North Broad Street, following a recent purchase of 1400 Spring Garden Street.  The word is, Blastein stands to be the saving grace of North Broad, piggy backing of the expansion of the Convention Center and future development opportunities it presents, as well as taking advantage of a gold-mind of development opportunities in this district.  The Center City District aims to expand the celebration and investment of the arts North up Broad Street, meshing well with the interest of Blastein, who's successful transformation of Northern Liberties was supported by the Artist Community and Creative Class of Philadelphia.