North Broad’s economic renaissance strategy now has a budget

While new apartment buildings have sprouted up closer to City Hall, there’s also development activity near Girard, Lehigh and Erie avenues.

The proposed North Station District would be a massive change for the intersection of North Broad and Lehigh avenues between Temple University’s main campus and Temple University’s Hospital.

The 5-acre development would retrofit an old factory near the Lehigh Avenue subway stop, the North Philadelphia regional rail station and an Amtrak hub. The city records show that the developers have already purchased the land. Plans are also being worked on for a Starbucks to serve the community at that intersection.

It’s a collaborative project that includes New York City-based HFZ Capital Group, Amtrak, Shift Capital and Essence Development.

At the confluence of Broad Street, Erie and Germantown avenues, Philadelphia is building two public plazas and installing pedestrian safety measures like a roadway median.

The 14-story tall tower nearby, known as the Beury Building, is being renovated as a hotel.

All these new investments along North Broad may mean higher rents for longtime business owners. North Broad Renaissance is taking proactive measures to safeguard businesses from displacement.

The best case scenario would be for business owners leasing commercial space to purchase the building. Alternatively, they could negotiate for a lengthier lease term, offering stability and security for their operations.

“Philadelphia as a city is gentrifying. If you’re a renter, you’re vulnerable,” said Thomas. “But we have resources that can help with lease negotiations to make sure that at the very least [business owners] can negotiate a good lease so that [they] are there for a long time and can benefit from the growth.”

Take South Jazz Kitchen, a tenant leasing its building for almost a decade, observing the corridor’s evolution.

“It just has a different feel. Every time you look down, there’s a hole in the ground, and then you’ll look up, and there’ll be a big building there,” said Harry Hayman, director of operations for the Bynum Hospitality Group — which owns South Jazz Kitchen and Southside.

However, the business has not experienced a significant increase in rent at this juncture.

Now that there’s some money for improvements, he wants to see more trash cans installed and lighting.

“You wanna make sure it’s well lit, make sure it’s safe,” he said.

He hasn’t seen a significant uptick in pedestrian foot traffic for now, but the restaurant is a destination and doesn’t rely on walk-ins.

“I think that will come with more businesses,” he said. “There’s been a lot of investment in other parts of the community, it’s been a while for us… but it’s certainly going in the right direction.”