Reit Magazine - March/April 2021 - 46

Neighborhood Nexus
Kimco Realty's Lincoln Square has
turned an underutilized lot into
a community focal point.
BY G. GAGE

Since its opening in 2018, Kimco Realty Corp.'s
(NYSE: KIM) Lincoln Square in Philadelphia has
become a neighborhood linchpin that has revitalized an underutilized property, incorporated
the adaptive reuse of a historic site, and led to the
economic revival of the surrounding community.
	 Located at 1000 South Broad Street, the
3.6-acre mixed-use development occupies a full
city block and connects the Center City and South
Philadelphia neighborhoods through its mix of
multifamily units and retail staples like Target and
PetSmart.
The project also involved salvaging a historic train
shed and transforming it into a Sprouts Farmers
Market, an Arizona-based grocery chain specializing in natural and organic foods.
The creative, adaptive reuse of the site is something that Kimco says was sorely needed in the
area. The success of the project has even catalyzed
other new developments in its vicinity.
" By putting 100,000 square feet of brand new,
state-of-the-art retail in addition to 322 new
multifamily units in a dense urban market, Lincoln
Square has provided a model for this kind of project
in this neighborhood that had been lacking, " says
Wilbur Simmons, president of Kimco's southern
region.

46 |

reit

Wide Open

Lincoln Square's
39,547-squarefoot green rooftop
provides a unique
community amenity
for residents.



Reit Magazine - March/April 2021

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