Big development plans for Philadelphia

CENTER CITY (WPVI) -- On Wednesday political and community leaders announced big development plans for Philadelphia.

City Council president Darrell Clarke and community members announced plans to redevelop North Broad Street.

"The forming of a new entity and the designation of North Broad as ANR - Avenue North Renaissance," said Clarke.

"It really is a coalition of North Broad stakeholders," said Ken Scott, Beach Interplex.

The stakeholders will include everyone from businesses to non-profits and churches and maybe even one day a casino.

"Of course I'm hoping to receive the casino license for our next project - The Provonce, right down the street - the former Inquirer building," said Bart Blatstein, Tower Investments.

"We believe that North Broad Street in the renaissance that Philadelphia needs and we believe we have the partners to make to happen," said Scott.

Over near the banks of the Schuylkill River in University City, there is even more growth

"What a great, great moment for us - this new addition to our area and our skyline," said Mayor Michael Nutter.

Mayor Nutter was on hand for the groundbreaking of the 49-story FMC Tower. It's the latest phase of the mixed-use Cira Centre South development.

The tower will be the headquarters of FMC and also feature a vertical neighborhood with luxury apartments, a swimming pool and fitness club. It will also feature retail and restaurant space.

Development in the city of Philadelphia is growing.

In the last year alone, 7.5 billion has been spent on construction projects.

The mayor hopes that number will continue to grow.

"I love groundbreaking, only thing better is a ribbon cutting and we will soon experience that," said Mayor Nutter.