Construction News

27/09/2007

Irish Company Acquires Philadelphia Site

An Irish development company has announced it is to buy a one-acre site in Philadelphia, for $36.7 million.

Castleway Properties has bought the site from the city’s Parking Authority, located on the 1900 block of Walnut Street.

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It is understood Castleway outbid three other firms for acquisition rights. Early concept drawings are calling for a T-shaped skyscraper, which could include one of the tallest residential buildings in Philadelphia, a 200-room hotel, commercial units, open space and underground parking space.

(JM)

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