Tower Investments, Inc.

What Tower Investments, Inc. does

Tower Investments, Inc. is a privately held real estate developer founded in 1978 and headquartered in Philadelphia. Founded by Bart Blatstein, who remains CEO, the company specializes in mixed-use, retail, entertainment, residential, and commercial property development, with a particular focus on transforming post-industrial and underserved urban areas into integrated live-work-play environments. Its portfolio spans Northern Liberties (Piazza at Schmidts, Liberties Walk, Shops at Schmidts), North Broad Street (Tower Place, Avenue North), the Philadelphia waterfront (Columbus Crossing), and Atlantic City (Showboat Hotel, Island Waterpark), with additional large-scale projects in approvals or active construction including the $300 million Philadelphia Inquirer Building renovation into the Philadelphia Police Headquarters and a 1.8 million square foot mixed-use development at Broad and Washington.

The company monetizes through three primary revenue streams: one-time real estate development and sale of completed properties (e.g., Columbus Crossing sold to Cedar Wood Shopping Centers), recurring commercial and residential leasing across its portfolio (over 1.5 million square feet under management), and asset management of operating assets including the Showboat Hotel and Island Waterpark. Distribution is regional and direct — the company leases to retail, commercial, residential, and government tenants through in-house teams led by President Brandon Dixon, with no public product pricing or standardized offering.

Customer segments include national and regional retailers (AC Moore, Super Fresh Market, Old Navy, Famous Footwear), municipal and government tenants (City of Philadelphia), student housing residents (Temple University adjacency at Avenue North), luxury residential tenants (Tower Place), and hospitality/entertainment visitors (Showboat, Island Waterpark). The company has demonstrated key tenant retention capability (97% occupancy retention in 2018 at a 205-unit luxury complex despite 500+ competing units entering the submarket), and pursues large-scale municipal partnerships as a competitive differentiator.

Name

Tower Investments, Inc.

Legal name

Tower Investments, Inc.

Website

https://towerdev.com

Company type

Private

Founded year

1978

Operating status

Operating

Short description

Tower Investments is a privately held real estate developer founded in 1978 that transforms post-industrial urban properties in Philadelphia and Atlantic City into mixed-use, retail, residential, and hospitality developments, serving retailers, government, residential tenants, and entertainment visitors.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Commercial and Institutional Building Construction (236220), Residential Building Construction (2361), Construction of Buildings (236)

SIC

Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

akta.pro secondary industry

Residential Real Estate Asset Management (BPAJAMAA)

Keywords

• Commercial real estate development
• Mixed-use properties
• Urban redevelopment
• Property management
• Retail development

Headquarters

HQ city

Philadelphia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Real Estate Development and Sales: Tower Investments develops retail, entertainment, and commercial properties for sale or long-term ownership. The company develops properties from inception to completion and may sell completed developments to REITs or other investors, as seen with Columbus Crossing sold to Cedar Wood Shopping Centers.
2. Commercial and Residential Leasing: The company generates recurring revenue through leasing of commercial and residential spaces across its portfolio. Brandon Dixon oversees over 1.5 million square feet of commercial and residential leasing in Philadelphia and Atlantic City markets.
3. Asset Management: The company manages its real estate portfolio including the Showboat Hotel and commercial properties, generating revenue through property operations and asset management activities.

Distribution channels3 records

Marketing channels3 records

Core offering

Tower Investments is a Philadelphia-based real estate developer that acquires, plans, builds, finances, and operates retail, entertainment, residential, hospitality, and commercial properties. The company specializes in urban redevelopment of post-industrial and overlooked sites, delivering mixed-use projects, luxury apartments, hotels, and entertainment venues across Philadelphia and Atlantic City. Revenue is generated through property development and sale, recurring leasing of owned commercial and residential assets, and long-term asset and property management.

Product overview

Tower Investments, Inc. is a real estate development company specializing in retail, entertainment, and commercial properties in the Philadelphia area. Since 1978, the company has distinguished itself as an innovator in urban redevelopment, with signature projects including the award-winning Piazza and Liberties Walk communities in Northern Liberties, the Showboat Atlantic City hotel and Island Waterpark, Tower Place luxury apartments, and the ongoing $300 million Philadelphia Inquirer Building renovation. The company operates a portfolio of mixed-use, residential, retail, and hospitality developments totaling over 600,000 square feet along the Philadelphia Waterfront, North Broad Street corridor, Northern Liberties, Manayunk, and Atlantic City markets.

Differentiator

Problem solved

Functional benefit

Products and services

• The Piazza at Schmidts Award-winning Northern Liberties mixed-use redevelopment featuring retail, residential, and entertainment spaces; Tower's nationally renowned project that transformed the former Schmidt's Brewery site.
• Columbus Crossing 142,000 square foot shopping center completed in 2001 bringing nine new retailers to the Delaware River waterfront, including the first urban AC Moore store and the first upscale Super Fresh Market in the Delaware Valley.
• Showboat Atlantic City Reimagined non-casino hotel property in Atlantic City; Tower Investments acquired and reopened the formerly closed casino property into a fully operational hotel.
• Island Waterpark at Showboat 120,000-square-foot indoor water park opened in 2023, part of a $100 million plan to bring family-friendly entertainment to Atlantic City's Showboat property.
• Tower Place First luxury apartment building on North Broad Street, Philadelphia; historically renovated building featuring modern features, appliances, and hotel-like conveniences.
• Philadelphia Inquirer Building Renovation $300 million historic renovation of the former Philadelphia Inquirer and Daily News building at N. Broad and Callowhill Streets into new Philadelphia Police Headquarters.
• Broad and Washington Mixed-Use Development Approved for over 1.8 million square feet of mixed-use development including 625 parking spaces, 143,000 square feet of retail, and 1,000 residential units at South Broad Street and Washington Avenue in Philadelphia.
• Avenue North First private development in decades adjacent to Temple University's campus, including The Shops at Avenue North and The Edge student housing.
• The Shops at Schmidts Part of the Northern Liberties redevelopment; commercial retail spaces within the Schmidts complex.
• Liberties Walk Award-winning residential and commercial community within the Northern Liberties redevelopment project.

Quantifiable outcome

• 97% occupancy retention in 2018 despite influx of 500+ newly developed units to the North Broad Street Submarket
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Cedar Wood Shopping CentersminorOthersColumbus Crossing shopping center was sold to Cedar Wood Shopping Centers, a Real Estate Investment Trust (REIT). Tower Investments developed the 142,000 square foot shopping center and pre-leased the entire development before construction began.

Scale indicators10 records

Recent moves6 records

Expansion highlights10 records

Broad incumbents

• LCOR (Lennar Multifamily Communities): National developer, owner, and operator of Class A multifamily and mixed-use properties with active Northeast portfolio. Comparable as a large-scale urban multifamily developer, though structured as an institutional investment manager rather than privately held.
• Howard Hughes Holdings: National master-planned community and mixed-use developer operating large-scale projects like The Woodlands, Downtown Columbia, and Ward Village. Comparable as a mixed-use developer pursuing urban-repositioning plays, though at significantly larger scale and public-company capital base.

Direct peers

• National Realty Group (NRG): Mid-Atlantic private real estate developer and manager specializing in retail, mixed-use, and residential projects. Comparable as a regional private developer with overlapping retail and mixed-use focus across the Northeast.
• Dranoff Properties: Philadelphia-based private real estate developer specializing in adaptive reuse and mixed-use urban redevelopment, including the renowned conversion of the Wills Eye Hospital into luxury apartments. Highly comparable as a Philadelphia private developer with similar urban-redevelopment thesis and scale.
• PMC Property Group: Philadelphia-based real estate investment and development firm focused on urban multifamily and mixed-use properties. Comparable as a Philadelphia-focused private developer pursuing similar urban-infill residential and mixed-use opportunities.
• Steiner + Associates: Columbus, Ohio-based private retail and mixed-use developer known for Easton Town Center and other lifestyle centers. Comparable as a private mixed-use developer specializing in retail-anchored destination projects with similar urban-repositioning approach.

Emerging players

• The Witkoff Group: Privately held New York-based real estate investment and development firm focused on hospitality, office, and mixed-use repositioning. Comparable as a private hospitality-adjacent developer pursuing complex repositioning plays similar to Tower's Showboat conversion.

Others

• JLL (Jones Lang LaSalle) - Capital Markets: Global commercial real estate services and investment firm with active Philadelphia capital markets and development advisory practice. Relevant as a transactional counterparty and comparable activity rather than a direct developer competitor.

Regional players

• Brandywine Realty Trust: Philadelphia-headquartered REIT focused on office, residential, and mixed-use developments in Philadelphia and Austin. Directly comparable as a regional Philadelphia real estate owner/developer operating in overlapping submarkets including North Broad Street and the Philadelphia Waterfront.
• PREIT (Pennsylvania Real Estate Investment Trust): Philadelphia-based retail-focused REIT operating shopping centers and mixed-use properties across the Mid-Atlantic. Comparable as a Philadelphia-anchored retail and mixed-use real estate operator; differs in being a public REIT rather than a private developer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tower-investment-group-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tower Investments, Inc.