If Hahnemann Closes, Developers Sense Opportunity
The announcement that American Academic Health System plans to close Hahnemann University Hospital means some prime Center City real estate could potentially come on the market, allowing developers to seize on a rare opportunity.
“It’s one of the sweetest locations in the city,” said Peter Kelsen, a real estate attorney with Blank Rome who represents developers. “It’s located in Center City and it's going to benefit from the North Broad development that has been going gangbusters. I think you’re going to get a tremendous amount of investor-developer interest in those real estate assets. There’s a lot of things you can do with them.”
"If Hahnemann Closes, Developers Sense Opportunity," by Natalie Kostelni is published in the Philadelphia Business Journal on June 27, 2019.