Philadelphia's most well-known developer Bart Blatstein—owner of Tower Investments, which created the Piazza, among many other buildings and projects—is being sued by Interstate General Media, the company that owns the Inquirer, Daily News and philly.com.
Blatstein bought the media company's former home on North Broad Street, which he's now pitching as Philly's next casino, but did so while the newspapers were still in the newsrooms. So Blatstein leased the space to them before they moved, and took a security deposit.
Blatstein, Interstate now alleges, has misappropriated most of the deposit and won't give almost $350K of the monies back, treating the company like a pack of college students. From the Inquirer's report on the Inquirer:
"Maybe if you rent to college boys you have to expect some damage, but most people expect to get their security deposits back," Leonard said. "This was in good condition, and nobody is saying anything opposite to that." According to the management company that inspected the move, the journalists did leave the space "broom clean," as stipulated in the lease. Blatstein would not comment to the Inquirer about the lawsuit by the Inquirer, but we requested comment as well, and we're not suing him.
· Inquirer's owner sues developer who bought its building