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Historic Progress Plaza to Get $15M Upgrade

PHILADELPHIA-The oldest African-American-owned and developed shopping center in the US is slated for an upgrade and expansion. King of Prussia, PA-based Kravco's Downtown Works will handle the redevelopment.

By Marita Thomas | Updated on July 16, 2002

PHILADELPHIA-Shareholders of locally based Progress Investment Associates have approved redevelopment of Progress Plaza Shopping Center. Located on four acres at Broad and Oxford Streets in Philadelphia, near the Temple University campus, it was originally developed in 1968 under the late Rev. Leon H. Sullivan’s “10-36 Plan.”

Under the plan, members of Sullivan’s Zion Baptist Church and others in the community invested $10 a month for 36 months to finance the project and become PIA shareholders. Today, there are 4,000 PIA shareholders, Alvin Tucker, PIA treasurer, tells GlobeSt.com.

Current occupancy at the 66,000-sf center is 75%, according to Tucker. It has lost its grocery anchor and become run down in recent years.

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