Fox Rothschild Pro Bono Team Closes Financing for State-of-the-Art Basketball Community Center
In pro bono efforts that stretched over a year, a team of Fox Rothschild attorneys led by Craig L. Finger and Jacqueline Motyl guided the real estate acquisitions, financing and corporate structuring for a $30 million basketball and community empowerment center in North Philadelphia that promises to transform the city’s Nicetown neighborhood.
Fox represents Philadelphia Youth Basketball, Inc. (PYB), which will operate the Alan Horwitz Sixth Man Center, a 100,000 square foot facility on Wissahickon Avenue that will feature seven basketball courts, including a 1,200-seat stadium court, as well as five classrooms, an 80-person civic dialogue arena and space for retail businesses and financial planning services.
“This is a truly visionary project that will be a second home for young people and benefit the entire community in countless ways,” said Fox Rothschild Chair Mark L. Silow, who serves on PYB Board of Directors. “We were thrilled to be a part of the immensely talented group that brought this to fruition.”
Kenny Holdsman, the President & CEO of Philadelphia Youth Basketball, Inc., said “this glorious project, which will be PYB’s flagship, would never have happened without the tireless effort of people like Craig Finger and Jacqueline Motyl who handled the complex legal and financial structuring necessary so that all of the pieces of this massive transaction could come together.”
Motyl assisted PYB in 2021 with in the formation of nonprofit entities and establishing tax exempt status for the center. Finger handled the acquisition of two adjoining pieces of real estate in 2021 and then led the financing work that included $17 million in construction loans that closed in March 2022.
The website for the Alan Horwitz Sixth Man Center says the facility, when built, “will provide everything that PYB believes young people need to thrive academically and intellectually, socially and emotionally, & civically and vocationally.”
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