[summersm343]

Looks like the development will officially be called "East Market"

In a sweeping $500 million-plus project aimed at finally upgrading Philadelphia's worn downtown retail district and spreading Center City's apartment revival east of Broad Street, a development group says it plans to demolish a modest block of stores on Market Street between 11th and 12th - and eventually level or renovate the rest of the block down to Chestnut Street - in favor of a new retail/residential complex.
Read more at http://www.philly.com/philly/busines...XSTZd9r4Tpf.99

Developers of the complex, to be called East Market, are two Philadelphia concerns, backed by Washington and New York firms.

"We're going to have grocers, we're going to have restaurants, entertainment, fashion," said Jeff Kanne, chief executive of National Real Estate Advisors (NREA), a $2.2 billion-asset, Washington-based firm that counts the International Brotherhood of Electrical Workers and other unions as investors.

"All the tenants have been terminated, and we expect to knock that building down in July," Kanne said Tuesday of the 1100 block of Market Street, former site of the N. Snellenburg & Co. department store and currently home to a dollar store and electronics, clothing, and jewelry shops.

Planned are two new store buildings facing Market Street, lit by Times Square-style signs, that will be topped by 325 apartments (at perhaps $2,200 a month for a one-bedroom unit), with parking underground.

http://www.philly.com/philly/busines...arket_St_.html