The recipient of the 2012 Ellipse Award is Walter D’Alessio, Principal of NorthMarq Advisors. Walt’s career spans a half-century, a testament to his longevity and commitment to the betterment of the City of Philadelphia. He can be credited with helping to shape some of the most notable and influential development in the City of Philadelphia.
As the former Executive Director of the Philadelphia Redevelopment Authority and the former Executive Vice President of the Philadelphia Industrial Development Corporation (PIDC), Walt has been a driving force in the development of some of the most important projects in Philadelphia, including The Gallery at Market East, Franklin Town, Society Hill, and Independence Mall among many others. He has contributed to the expansions of the University of Pennsylvania, Temple University, and Drexel University, working to keep the universities growing in the City versus moving to the suburbs.
Under Walt’s leadership, PIDC became the nation’s leading economic development agency with an international reputation for excellence and success. His work was emulated both locally and nationally by organizations looking to replicate PIDC’s success. Some of the most influential business leaders in Philadelphia today can attribute their success to following the path Walt blazed. Walt remains active with PIDC as Chairman of the Board.
Infrastructure was a clear winner as a result of Walt’s success. From the Commuter Rail Tunnel at Market Street East to the transformation of the Navy Yard into a thriving business center, the progress that Walt championed during his career has led to the development and redevelopment of hundreds of millions of dollars in civil infrastructure.
Walt’s legacy of success will benefit generations of Philadelphians to come. His vision of Philadelphia as a world-class center of business and industry, as well as his ability to lead change to make that vision a reality, are among the reasons he has been chosen as the recipient of the 2012 Ellipse Award.
Mr. D’Alessio joined NorthMarq Capital in September 2003 when NorthMarq acquired the mortgage banking division of Legg Mason Real Estate Services (LMRES) where he was employed since 1982. Mr. D'Alessio has over forty-five years’ experience in planning, developing, financing, and managing major real estate projects in Philadelphia.