Market East has officially been renamed Jefferson Station.
On Thursday SEPTA and Thomas Jefferson University officials unveiled the new signs at the 30-year-old station, which is nestled between 10th and 8th streets in Center City.
Jefferson bought the naming rights to the transit hub for $3.9 million. The agreement lasts 5 years with an option for a 5-year renewal, but SEPTA General Manager Joe Casey said the renewal would include a rate increase.
As part of the deal, Jefferson will pay to change over all literature and signage that lists the station by its previous name.
Dr. Stephen K. Klasko, Jefferson president and CEO, said the renaming will also signal more changes for the the university.
When asked whether a hospital or a university wing could be added to The Gallery, he said "I think we would be interested in just about anything that gets us out of a10th and Walnut-centric model."
After a failed negation, SEPTA Surburban Station will not be renamed Verizon Station, according to Casey. Instead Verizon will work with SEPTA in other advertising scenarios.Rumors persisted that both Comcast and Verizon were extremely interested in gaining naming rights to the centrally located transit hub.
In 2010, SEPTA worked out a $5.4 million deal to rename Pattison Station — the last southern stop on the Broad Street Line — to AT&T Station. In that five-year deal, which expires next year, SEPTA received$3.4 million, while the advertising company Titan Worldwide received$2 million.
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