Future of Center City & University City

Urban visionary Carl. E. Dranoff has earned national recognition for his game-changing approach to residential development in the urban core. As founder and CEO of Philadelphia-based Dranoff Properties, Dranoff has developed over 1.4 million SF of prime real estate valued at $1 billion with projects ranging from ground-up skyscrapers, adaptive reuse, and mixed-use developments. Developments, built by Dranoff, share a common theme – they are stylish, character-defining, beautifully designed expressions of modern luxury living. Philadelphia's most iconic condominium high rises, including One Riverside, 10 Rittenhouse, Two Liberty, Symphony House, and the under-construction Arthaus, are his work. The uber-luxurious, trend-defying Arthaus is Dranoff’s latest achievement which recently welcomed its first residents. Located across from the Kimmel Center and designed by international A-list architect Kohn, Pedersen Fox, the condominium residences feature expansive skyline and river views and floorplans and finishes worthy of a magazine spread. The resort-style amenities, green spaces, gardens, and white-glove service make every day feel like a vacation. Over his career, Dranoff has had a steady stream of development achievements that have raised the bar on luxury living and changed the equation for urban living. His game-changing apartment and condominium developments are credited with turning around many declining Philadelphia neighborhoods, the Camden, NJ's Waterfront, Newark, NJ's art district, and the Ardmore PA's business district. Dranoff earned his B.S. in Civil Engineering at Drexel University and his MBA at Harvard University. He was also awarded an Honorary Doctorate in Engineering from Drexel University, which cited him as "a nationally recognized civic leader and entrepreneur…whose work has brought a renewed sense of history to Philadelphia and urban Americans throughout the country".

Matthew Pestronk is co-founder of Post Brothers, a real estate investment, development and management company with singular and unique expertise in urban real estate development. Matthew serves as President of the company, engaged in the sponsorship of Class-A multifamily, mixed-use and retail development projects comprised of over 7,000 units that are operating, under development or disposed plus, over 400,000 sf of commercial space, with a total capitalized cost in excess of $2.5 billion. Matthew shares strategic leadership of the company with his brother, Michael, and is engaged in asset management, financing, and project and capital formation. Matthew has worked in real estate capital transactions for his entire 20+-year career and was previously a real estate financing executive in New York City prior to forming Post Brothers. Matthew is also very active in his community and has board service experience for multiple charitable organizations including the Philadelphia Holocaust Remembrance Foundation, Beat the Streets Philadelphia, West Nottingham Academy, Children's Hospital of Philadelphia and is the Immediate past Chair of Jewish Federation Real Estate.

Jonathan Stavin's responsibilities as Executive Vice President include the oversight of acquisitions and commercial property leasing and management. Prior to joining the executive team at PMC in 2009, Jonathan served as Sr. Vice President at CB Richard Ellis, VP at Binswanger Management Corp., and VP/General Counsel at JPA Property. During the past decade, he was personally involved in the sale and development of more than $500 million in commercial real estate. Jonathan holds a BA from Connecticut College and a JD from The Dickinson School of Law at Pennsylvania State University. He also currently serves as a board member for the Apartment Association of Greater Philadelphia.

Mr. Sehnert manages the development and acquisition processes for a portfolio of real estate assets controlled by Penn. Mr. Sehnert directs and manages University Real Estate development projects, including initiating and recommending development strategies, negotiating and structuring joint ventures for development, preparing feasibility studies, and valuation analysis, and providing asset management, acquisition due diligence and project management oversight. Mr. Sehnert received a Master of Science in Real Estate Development from the Massachusetts Institute of Technology (1988). He graduated Magna Cum Laude from the College of Architecture at the University of Cincinnati (1979), and registered as an Architect in State of Ohio 1980, nationally accredited by NCARB 1981. Mr. Sehnert coordinates the University’s projects and ventures with real estate developers in order to implement the real estate strategic plan. Current projects include the $51 M acquisition and coordination of the $700 M public private redevelopment of the 24-acre USPS property including “Cira South”, the $100 M luxury apartment and mixed-use development “Domus” at 34 th and Chestnut, a $75 M 500 Bed student residential and mixed used development “Radian Apartments,” and the 120-unit $23 M public private, developer-built apartment building at 40 th & Chestnut “HUB”. Other Projects include the acquisition of strategic properties and development of various mixed-use and housing developments throughout the Campus and neighborhood. Sehnert managed and coordinated University efforts to acquire and redevelop the 24-acre United States Postal Service property in 2005-07, the 17-acre 124,000 SF biotech lab and vivarium from Dupont in 2006 and the 23-Acre former Marshall Research lab in 2010. Current efforts focus on the redevelopment of the site as the Pennovation Center, a $35M business incubator, to drive the technology transfer business and commercialization as a R&D office park. Representative completed projects range from the completion of the $75 M Biotech Translational Research Laboratory (“TRL”) for the School of Medicine, the $14 M WXPN/World Café Live performance venue and sound stage, the development of a $24 M turnkey development of the former Divinity School site for the Penn Assisted Alexander K-8 School for the School District of Philadelphia and the construction completion of the $30.5 million joint venture parking structure with CHOP. The University Projects that are lead by Mr. Sehnert have been recognized by professional and trade organizations. The University Urban Development initiatives received the 2004 ULI Award for Excellence. The TRL project was awarded a preservation award by the GPBCA and the World Café WXPN project was the recipient of a deal of the year award by the Philadelphia Business Journal (PBJ). The Domus mixed-use Residential project has been awarded the PBJ Best Residential Deal for 2007. Mr. Sehnert serves as co-chair of the Board of Directors for the Community Design Collaborative in Philadelphia and previously served on the Board of Directors for the Redevelopment Authority of the City of Philadelphia. Serves as a Professional practice lecturer in Real Estate Finance and Investment at PennDesign and for the Center for Urban Redevelopment Excellence (CUREx) at the University of Pennsylvania.

David Yeager has a broad array of experience and skills in corporate real estate, advisory, property development and acquisitions. Mr. Yeager has worked for diverse organizations including IBM, a private national developer, a NYSE-listed real estate investment trust (REIT) and a real estate advisory firm prior to starting his own company. In his three decades of real estate experience, Dave has undertaken over $500 million in acquisitions and managed more than 7 million square feet of real estate projects.

Mr. Thomson is a Senior Managing Director and co-head of the HFF Philadelphia office with more than 10 years of experience in commercial real estate. He is primarily responsible for originating investment sales and equity placement transactions throughout the northeastern United States, in addition to overseeing the day-to-day operations of the firm’s Philadelphia location. Mr. Thomson has executed more than $3 billion in commercial real estate transactions in the Mid-Atlantic and Northeast. Mr. Thomson joined the firm in December 2013. Prior to HFF, he was Vice President of Investments and Director of Marcus & Millichap’s national multi-housing group specializing in the sale of multi-housing assets in the Mid-Atlantic region. Prior to his departure, his team was the highest producing multi-housing team in the Mid-Atlantic.

Joe Reagan brings nearly 30 years of commercial real estate experience to his current role leading the development and execution for Wexford Science + Technology. As the Senior Vice President of Development for Wexford, Joe is chartered with developing and executing projects focused on the growing Core Innovation District in West Philadelphia, known as uCity Square. With 15 years of institutional real estate, design and construction experience in Philadelphia, Joe has a strong track record of results by developing nearly 3.5 million square feet of laboratory, office and retail space in the fast changing uCity Square. Some of Joe’s key projects in uCity Square include: Development of the University City Innovation Corridor, a 2.8 million SF mixed-use expansion of the Science Center 3675 Market, a 340,000 RSF lab/office building currently under construction and anchored by the Science Center and Cambridge Innovation Center Construction and lease up of 3737 Market, a 330,000 RSF lab/office building anchored by the Penn Musculoskeletal Institute 3711 Market, a 154,000 SF lab/office building and a 500 space parking deck project in uCity Square Before joining Wexford, Joe was Assistant Vice President of Real Estate and Architecture for the University of Pennsylvania Health System (UPHS), where he oversaw 5 million square feet of owned and leased facilities and directed the Health System design and construction department with an annual capital budget in excess of $100 million. He led the real estate development of UPHS’ network of primary and specialty care facilities. Prior to leaving UPHS, Joe led the design effort for the Perelman Center for Advanced Medicine, a new 600,000 square foot ambulatory care facility that included underground parking for 1,000 cars. Joe also led the conceptual design of an adjacent 500,000 square foot research facility for the University of Pennsylvania School of Medicine. Joe graduated with a Bachelor of Science and Bachelor of Architecture from the Rensselaer Polytechnic Institute in Troy, NY. He is also a registered architect in Pennsylvania and New York.

Bart I. Mellits is Chair of Ballard Spahr’s Real Estate Department and oversees more than 110 attorneys in all of the firm's offices. With more than 30 years of experience, Mr. Mellits represents developers, owners, and institutions in a wide range of real estate projects and transactions. His experience encompasses development, joint ventures, sales, acquisitions, leasing, and loan transactions, as well as real estate workouts. He also counsels a variety of Fortune 500 companies and nonprofit clients on real estate issues affecting their businesses. Mr. Mellits has led legal efforts on real estate-related projects for public and private universities, national lending institutions and national retailers, in addition to national, regional, and local developers. He has worked on a broad range of projects, including research parks, hospitals and medical office buildings, shopping centers and malls, corporate headquarters, industrial and warehouse facilities, multifamily residential properties, and hotels. Mr. Mellits has represented landlords and tenants nationwide in build-to-suit leases, as well as leases for large-scale retail, office, industrial, warehouse, hotel, research, development and laboratory, and mixed-use properties, as well as bondable and other types of financing leases. He has structured a variety of portfolio sales, acquisitions, and financings with REITs, private equity firms, and other institutions. Mr. Mellits is a member of the firm’s Elected Board as well as its Expanded Board.

Lauren Gilchrist is the Executive Vice President and Market Leader of the Greater Philadelphia Region. Gilchrist oversees Newmark Real Estate’s (Newmark’s) full suite of service offerings, managing strategic planning, revenue growth and profitability, recruitment and business development in the company’s Philadelphia, Wayne, Southern New Jersey and Delaware offices. Based in the Philadelphia CBD office, Gilchrist holds appointments to the Board of Directors for the Philadelphia Facilities Management Corporation/Philadelphia Gas Works, Philadelphia Orchestra, Old City Community Fund, M&T Bank Advisory Board and the Greater Philadelphia Chapter of NAIOP—where she served as Chapter President from 2019 to 2020. In addition, Gilchrist has been recognized by the Philadelphia Business Journal as a 40 Under 40 honoree and a Woman of Distinction, and a Philly Power Woman by Bisnow. Prior to joining Newmark, Gilchrist was the Managing Director of Research at Longfellow Real Estate Partners, where she directed research strategy, content creation and thought leadership, and provided market research to drive project underwriting and execution. Previously, Gilchrist also held roles as Senior Vice President of Research at JLL, Manager of Research & Analysis at the Center City District and Program Manager at the Center for Regional Economic Competitiveness.

Leonidas Addimando (“Leo” for short) is a Managing Partner and Co-Founder of Alterra Property Group, LLC (“Alterra”). In addition to experience with a diverse range of real estate product types, Leo has also invested in over 15 states, built over 1,000 residential units, structured complex tax credit transactions, and overseen all aspects of numerous real estate development projects. Previously, Leo was an early employee of Orbitz.com, serving the company for three years in numerous business and corporate development capacities. Leo’s largest accomplishment while at Orbitz was spearheading the development and implementation of both a travel insurance re-sale business, and a hotel business, that together served as key profitability drivers which helped Orbitz to complete a successful IPO in 2003. Before working at Orbitz, Leo worked as an Associate for the Boston Consulting Group in various management consulting capacities, and across numerous industry groups. Prior to that, he was the co-founder of both a media start-up and an internet start-up. Leo has an MBA from the Harvard Business School (“HBS”) and a B.A. in Economics and Political Science from the University of Michigan. Leo is a Board Member of the Preservation Alliance of Greater Philadelphia, the Philadelphia Building Industry Association, and the Old City District. Leo is a native of Center City Philadelphia and currently resides there with his wife (Brigitte Castaing Addimando, HBS ’05) and three children (Nico, Marcus & Sophie). In his spare time, Leo enjoys spending time with his family, golf, running, attending live sporting events and travel.

Gregory Heller is a director at Guidehouse in the Capital Projects and Infrastructure practice. Greg brings more than 15 years of public and private-sector experience in real estate finance, affordable housing, community development, and smart government approaches. Prior to joining Guidehouse, Greg held senior leadership positions in Philadelphia’s local government as executive director of the Philadelphia Redevelopment Authority. Concurrently he also served as a senior vice president at a city-affiliated housing nonprofit and founded and led a new city-supported loan fund focused on investing in affordable housing. In these roles, he developed new approaches to complex community finance challenges, managed much of the city’s affordable housing investment, and oversaw the redevelopment of large publicly owned assets, including working closely with community stakeholders on equitable community development approaches. Greg has won a number of honors for his public sector work, including the 2021 Community Leadership Award from Urban Affairs Coalition, 2017 AIA Pennsylvania’s Government award and was also named a member of the Urban Land 40 under 40. Prior to his public sector work, Greg was the CEO of a Baltimore-based consulting group where and his team worked with clients across the US, focusing on community finance and social-impact real estate, Greg serves on the Urban Land Institute’s national Public-Private Partnership product council, and for over 12 years he has been on the Board of Families Forward Philadelphia, one of the city’s largest homeless services groups. Greg graduated from Wesleyan University.

For over 30 years, Scannapieco Development Corporation has been a driving force in the real estate industry. Throughout its history, the company has pursued regionally significant projects that have presented unique challenges, addressing the complex demands of real estate development in the Northeast Corridor. From trend-setting luxury high-rise and mid-rise residential to mixed-use commercial and hotel development, Scannapieco Development Corporation has successfully established partnerships and joint ventures with institutions and major corporations including numerous Fortune 500 firms. The company has completed over $1 billion of innovative development and is widely recognized as one of the most respected and creative companies in the development industry. Scannapieco Development Corporation’s recent projects, 1706 Rittenhouse and 500 Walnut, have transcended the residential real estate market in Philadelphia by establishing a new brand of ultra-luxury residences never before offered in the city. In 2011, the Urban Land Institute recognized 1706 Rittenhouse as one of the 20 best projects in the Americas and was the first residential project in Philadelphia to receive this designation. Tom Scannapieco was also awarded a citation from Mayor Michael Nutter for creating outstanding examples of intelligent, creative and mindful design. His communities have been recognized as “game changing” and have established him as the expert in the ultra-luxury market.

Howard Grossman is senior counsel in Cozen O’Connor’s Real Estate Practice. A nationally recognized real estate attorney, Howard has been representing developers, operators, investors, and lenders in their most complex real estate transactions for more than 30 years. He has broad experience, handling investment activities from ground-up development to acquisition, financing and disposition of existing properties. Principal focuses of Howard’s practice include structuring sophisticated joint venture agreements and guiding development of urban mixed-use projects that include hotel, apartment, retail, and/or office space. His expansive work in the joint venture arena extends to structuring multi-party agreements and negotiating transactions involving diverse capital sources such as private equity, public finance, preferred equity, and senior debt. Prior to joining Cozen O’Connor, Howard spent nearly 10 years as a senior executive at two well-known Philadelphia-area real estate firms. Howard served as director of acquisitions for a top 50 multifamily owner and operator, and he served as chief investment and chief operating officer of a regional multifamily owner and operator whose portfolio included more than 30 assets in eight states. Howard received his B.A. from Rutgers University, his J.D., from the University of Florida, and holds an LL.M. in taxation from New York University.