PHILADELPHIA, PA—Philadelphia has the potential to become a “gateway” city, but is not quite there yet, says David B. Rubenstein, founder of Rubenstein Partners, a Philadelphia-based real estate investment firm.
“Today there are more reasons than ever to believe that it might,” Rubenstein told the packed ballroom at the Union League Club. “It hasn't yet, we've been talking about it for years. I think it's being priced today with the ability to get there.”
Rubenstein was one of four Philadelphia based industry heavyweights who cited unfavorable tax policy, the crumbling public school system in Philadelphia, political inertia, and lack of job growth as reasons why commercial development has eluded the Center City area. Also appearing on the panel were: Daniel DiLella, principal, Equus Capital Partners; William P. Hankowsky, president and CEO, Liberty Property Trust;and Gerard H. Sweeney, president, chief executive officer and trustee, Brandywine Realty Trust.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
