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Bridgman Takes on Long-Delayed NewMarket

PHILADELPHIA-The developers of Bridgman's View acquire rights to create Stamper Square on the 1.5-acre NewMarket parcel that has defied development for more than a decade.

By Marita Thomas | Updated on April 03, 2007

PHILADELPHIA-Following a series of plans gone awry, locally based Bridgman Development LLC has acquired development rights for the vacant 1.5-acre parcel in Society Hill that was once called NewMarket and has remained a hole in the ground for more than a decade. Earlier plans included an 11-story W hotel and a 40-story condo tower, which, as GlobeSt.com reported, was later trimmed to 19 stories.

Locally based Bridgman, headed by Marc Stein and Ryan Roberts, plans a mixed-use development named Stamper Square, after John Stamper, an English merchant who was mayor here in 1759. Stampers Street intersects the parcel, which is bounded by Second, Front, Lombard and Pine streets. “This is a really great community landscape, and we see a wonderful opportunity to create something that complements it,” Stein says.

Stein and Roberts declined to disclose the price for the rights. The seller is an entity named 410 S. Front Street Partners LP, which includes the previous owner of the land. “That company retains a financial stake in the project along with us,” Stein tells GlobeSt.com, “But it has absolutely nothing to do with the development of Stamper Square.”

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