Jefferson and National Real Estate Advisors (“National”) proudly announce the official opening of Jefferson Plaza at East Market.
Engaging Programming, Lush Landscaping, and a Mural by a World-Renowned Artist Create a Vibrant Hub for Community Connection, Completing the East Market Development Vision
PHILADELPHIA, PA (June 14, 2023) – Today Jefferson and National Real Estate Advisors (“National”) proudly announce the official opening of Jefferson Plaza at East Market. This landscaped plaza represents the final phase of the pedestrian-focused East Market redevelopment project which has transformed an entire city block into a vibrant community hub.
Situated adjacent to the Honickman Center, Jefferson’s upcoming 19-story medical building rising at 11th and Chestnut Streets, Jefferson Plaza provides a reprieve for Philadelphians to gather and enjoy. The plaza was designed by BLT Architects and Margie Ruddick Landscaping, in accordance with the master plan for East Market, aiming to serve as the welcoming gateway to Jefferson’s Center City campus. The meticulous landscape design by the Groundswell Group will provide an urban oasis that offers both beauty and functionality, embodying the spirit of community connection.
“This development will enrich the neighborhood’s vibrancy and positively impact the city. We are thrilled to invite Philadelphians to enjoy the new Jefferson Plaza at East Market and experience what this space has to offer,” said Joseph G. Cacchione, MD, CEO, Jefferson.
The East Market site and Jefferson’s new building, developed by National’s subsidiary, National Development, has injected over $1 billion in new investment in the city, creating a new four-acre neighborhood anchored by a diverse mix of retail, hospitality, office and residential uses. East Market’s pedestrian-only central corridor, Chestnut Walk, is at the heart of the development and will open as a mid-block throughway from Market to Chestnut Street for the first time.
“The opening of Jefferson Plaza at East Market and the completion of Chestnut Walk mark significant milestones in our remarkable ten-year journey with East Market,” said Daniel Killinger, President of National Development. “The additional 12,000 square feet of public outdoor space that Jefferson has provided will create a vibrant new epicenter for the community and solidifies the vision of creating a truly exceptional place that thrives on active, pedestrian-oriented walkways and street life. East Market is a dynamic hub buzzing with twenty-four-hour vitality.”
The final piece of the East Market development is Jefferson’s 462,000-square-foot Honickman Center, set to open in 2024. The Honickman Center will centralize an array of clinical services into a future-ready, accessible facility, offering a seamless patient experience. Jefferson Plaza will act as an added amenity for patients, visitors, and providers, enhancing their experience within Jefferson’s world-class healthcare network.
In addition to being a welcoming space, Jefferson Plaza will serve as the vibrant backdrop for an array of captivating public programming throughout the year. From seasonal events and pop-up food vendors to live music and outdoor fitness classes, the plaza will invite the community to engage, connect, and be inspired.
Plaza visitors and passersby can also admire a custom-commissioned mural by Portuguese visual artist, Diogo Machado, also known as ADD FUEL, created in collaboration with Mural Arts of Philadelphia. Titled “CRADLE,” this awe-inspiring tile installation captures the essence of Philadelphia’s cultural identity and pays homage to Jefferson’s history in delivering care to the Philadelphia community. The intricately hand-crafted artwork pays tribute to the city’s history of innovation, creativity, and growth, inviting viewers to explore the vibrant dimensions of Philadelphia’s cultural heritage.
“We are proud to be working with National and Jefferson – this project speaks to the importance of partnerships between arts and business, and it speaks to the importance of making sure that art is an integral part of the public spaces of our city. And we are delighted to have been able to bring Add Fuel’s work to our city; I’m sure this classic yet playful mural will delight people for years to come and be a mainstay of our Center City mural tour,” said Jane Golden, Executive Director, Mural Arts of Philadelphia.
To learn more about Jefferson Plaza at East Market as well as the larger East Market development, visit www.eastmarket.com or follow along on Facebook and Instagram.
Nationally ranked, Jefferson, which is principally located in the greater Philadelphia region and southern New Jersey, is reimagining health care and higher education to create unparalleled value. Jefferson is more than 43,000 people strong, dedicated to providing the highest-quality, compassionate clinical care for patients; making our communities healthier and stronger; preparing tomorrow’s professional leaders for 21st-century careers; and creating new knowledge through basic/programmatic, clinical and applied research. Thomas Jefferson University, home of Sidney Kimmel Medical College and the Kanbar College of Design, Engineering and Commerce, dates back to 1824 and today comprises 10 colleges and four schools offering 200 undergraduate and graduate programs to more than 8,400 students. Jefferson Health, nationally ranked as one of the top health care systems in the country and the largest provider in the Philadelphia area, serves patients through millions of encounters each year at 18 hospitals and over 50 outpatient and urgent care locations throughout the region. Health Partners Plans is a not-for-profit managed health care organization providing a broad range of health coverage options in Pennsylvania and New Jersey for more than 35 years.
About East Market
East Market is a dynamic mixed-used project, blending urban shopping and dining experiences with contemporary work and living spaces. The pedestrian-oriented development in the heart of Philadelphia has revitalized an entire city block, from Market to Chestnut, and 11th to 12th Streets. Here, you can live at two incredible apartment towers, The Girard or The Ludlow, work at 1100 Ludlow, shop and dine at one of many retailers, or just hang out on Chestnut Walk and Ludlow Street with a cup of coffee and your dog. The project is owned by National Real Estate Advisors, LLC, an investment manager specializing in build-to-core, developing and owning large-scale, urban commercial and multifamily projects on behalf of its institutional clients. East Market is developed by National Real Estate Development, the full-service development arm of National Real Estate Advisors. For more information, please visit www.eastmarket.com and follow the conversation at @EastMarketPHL.
About National Real Estate Advisors, LLC
National Real Estate Advisors, LLC is an investment manager specializing in a build-to-core strategy, developing and managing large-scale, urban commercial and multifamily projects for its institutional client accounts. National constructs investment portfolios of modern property assets—apartment, office, mixed use, industrial (including data centers), and hotel—with design features, technological enhancements, and amenities that drive high tenant demand and can create value for investors. National is an independently operated subsidiary of the National Electrical Benefit Fund (“NEBF”), a substantial pension trust with a significant amount of assets that are managed by National on a discretionary basis. For more information, please visit www.natadvisors.com.
About National Real Estate Development, LLC
National Real Estate Development, LLC (National Development), is a real estate development firm focused on developing complex, urban mixed-use projects throughout the country. Since 2013, the team has developed over four million square feet in major markets such as Philadelphia, Los Angeles, and San Francisco. National Development bases its rigorous development processes on the principles of integrity, community, collaboration, and sustainability, and aims to transform the neighborhoods which it develops. Regardless of location, National Development strives to consistently create value through complex project structures, delivering tailored projects that are specifically designed to meet the needs of a given market. In particular, National Development focuses on setting new standards for live-work-play environments developed in urban communities. Notable projects include East Market in Philadelphia, The BLOC in Los Angeles, and 100 Van Ness in San Francisco. National Development is the wholly owned, full-service development subsidiary of National Real Estate Advisors, LLC. To learn more, visit www.natrealestatedevelopment.com.
About Mural Arts Philadelphia
Mural Arts Philadelphia is the nation’s largest public art program, dedicated to the belief that art ignites change. For over 35 years, Mural Arts have united artists and communities through a collaborative and equitable process, creating over 4,000 artworks that have transformed public spaces and individual lives. Mural Arts aims to empower people, stimulate dialogue, and build bridges to mutual understanding through projects that attract artists from Philadelphia and around the world and programs that focus on youth education, restorative justice, mental health and wellness, and public arts preservation. Popular mural tours offer a firsthand glimpse into the inspiring stories behind Mural Arts’ iconic and unparalleled collection, earning Philadelphia worldwide recognition as the “Mural Capital of the World.” For more information, call 215-685-0750 or visit muralarts.org. Follow us on social media: @muralarts on Twitter and Instagram, MuralArtsPhiladelphia on Facebook, and phillymuralarts on YouTube.
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