The plan to move Foxwoods to the Pennsylvania Real Estate Investment Trust-owned Gallery at Market East has yet to receive final approval, but if it goes through, it could be a boon for the Center City area, which is also receiving a shot in the arm through the expansion of the Convention Center.

"The Gallery has not been a failed retail complex," says Steve Gartner, president of Philadelphia-based Metro Commercial Real Estate. "In fact, many retailers do very well in it and around it. The challenge it has is the same with many vertical projects. The upper levels have never been as successful for retail as the street and lower level, which connect to the regional rail station. So, if ownership can creatively figure out a way to maximize the upper floors, the addition of the casino could be a great win for the project."

Of course, the addition of a casino to the already busy Center City area is bound to bring problems that need to be addressed. "Everybody hopes it'll be a very successful casino location, but with success comes people and with people come traffic and the difficulty getting gamers to the site," says Gartner. "Those issues will have to be handled in a way that will enhance what's there and don't create a situation that's bad for neighboring properties.

"The Gallery sits immediately adjacent to the convention center, which like all convention centers is extremely busy for bursts of time and extremely dead for long periods of time," he continues. "A casino in this location would create a more continuous draw of visitors to Market East, which I think would significantly enhance retail, restaurants and other commercial activities there. So from that point of view, if the impact of it as far as traffic and congestion can be effectively managed, this could result in a very positive change for Market East."

If handled correctly, Gartner points out, the casino could become a catalyst for entertainment venues in the area, as other upscale casinos have before. "If it could become that kind of upscale catalyst, then it would be a tremendous boon to Philadelphia," says Gartner.

A final point in the plan's favor is the fact that the casino, being located in an existing building, might be able to open more quickly than if it was being developed from the ground up. Nothing can happen, however, until discussions with the city and neighboring communities regarding the casino's impact on the neighborhood are carried out and the proposal is presented to the Gaming Control Board.

"I imagine they'll have to do a lot to the building, but PREIT is a very adept urban developer and they can certainly figure out how to make it work," says Gardner. "I think it's exciting, I think that no matter what, gaming is here in Philadelphia, that's not going to change." Calls to PREIT and Foxwoods seeking comment were not returned as of press time.