Temple has acquired a building on Carlisle Street near 15th for $2 million, adjacent to the site of project “Legacy on Broad,” a 28-story student housing and mixed retail development with more than 20,000 square feet, the Philadelphia Business Journal reported Thursday.
The purchase of the building was approved during the Board of Trustees’ first public meeting of 2025 on Feb. 19 after the university announced its plans for the “Legacy on Broad” project in Fall 2023. The Board authorized the acquisition using up to $2,095,300 from university reserve funds to complete the purchase.
The building is currently occupied by event venue Ego Hall. With the acquisition, Temple now owns roughly half of the block between North Broad and North Carlisle streets.
Ego Hall has leased the 6,765-square-foot building for about two years since replacing Masters Bar and Restaurant, and will continue to operate at the site, according to Ken Kaiser, Temple’s Chief Operating Officer.
The announcement of the purchase comes as Temple is undergoing budget scrutiny. The university is reevaluating short-term spending, halting nonessential capital projects and tightening departmental budgets in response to concerns surrounding the university’s budget deficit, wrote President John Fry in a statement to faculty and staff on April 11. Temple’s plans to purchase on Carlisle Street came before Fry’s statement.
Be the first to comment