You Can’t Say “PIDC” Without “WALT”
Walt arrived in Philadelphia in 1960, beginning an unprecedented 60 year career in planning, developing, financing, and managing major economic development projects in Philadelphia. He initially worked at the Philadelphia Redevelopment Authority where he became executive director; and became executive vice president of PIDC in 1972 and, during his 10-year tenure, he transformed the agency into the nationally recognized economic development force that it is today. Although in 1982, Walt moved into the private sector, where he began a successful career in real estate finance, he continued to play a major role in setting and implementing the City’s economic development policy by serving as the chairman of the Board of PIDC.
Under Walt’s active and engaged leadership, projects such as Market East, the Convention Center, the new sports stadiums in South Philadelphia, the Philadelphia Navy Yard, the Center for Healthcare Sciences in West Philadelphia, as well as the thousands of acres of job-creating industrial space in every corner of the City were successfully developed. One of Walt’s most singular contributions to the City during his 60-year career has been the continuity and focus he’s brought to Philadelphia’s economic development strategy while working with nine mayors, six City Council presidents, and every possible economic and political environment.
PIDC thanks, honors, and congratulates Walt for his unparalleled career and matchless contributions to the prosperity and quality of life in Philadelphia.
The Legacy Continues
While Walt has retired from his longtime board position as chairman of the Board of PIDC, his legacy continues with PIDC in various ways. In 2019, PIDC memorialized Walt’s impact and influence on PIDC by naming our largest meeting room in our new office space, the “D’Alessio Board Room.” Last year, we also launched the PIDC-Walt D’Alessio Scholarship Fund to support graduate students at Philadelphia schools seeking to pursue a career in urban development and finance. Earlier this year, PIDC announced the first winners of the PIDC-D’Alessio Scholarship for Urban Development –Cokie Mayenpu Nanka, PIDC’s credit & portfolio management intern, and Jill Audra Schoenfel, PIDC’s real estate services intern. Read more about our first scholarship recipients.
New PIDC & PIDC Community Capital Chairperson
We are thrilled to announce that longtime PIDC Board of Directors and Executive Committee member, Salvatore J. Patti, has been elected by the Board to serve as the new PIDC and PIDC Community Capital chairperson. He has also served the organization as a key member of PIDC’s Loan and Audit Committees for many years. Sal has been with PNC Bank for the past 24 years, and currently serves as regional managing director for PNC Wealth Management, in the Philadelphia, Delaware and Southern New Jersey markets. Sal is responsible for leading a team of wealth management professionals committed to business development and relationship management initiatives focused on the needs of high-net-worth clients. Prior to assuming his current role, Sal was a senior vice president and market leader for the commercial banking segment. In addition to his PNC experience, Sal was an asset-based auditor, an asset-resolution specialist, and an accountant.
Sal serves on the executive boards for a number of charitable groups and community organizations, including The Police Athletic League, The Greater Philadelphia Chamber of Commerce Small Business Board, The Board of Elementary Education for the Archdiocese of Philadelphia, The Union League of Philadelphia, and PAWS, just to name a few. He has also been honored by The National Italian American Political Action Committee, and The Sicilian Confederation of North America. In addition, Sal was an honoree of The Philadelphia Pinnacle Award, The Variety Club Golden Heart Award, and The Center for Grieving Children. We’re glad to have Sal’s vast expertise as PIDC’s new PIDC and PIDC Community Capital chairperson.
Sal earned a BA degree from Philadelphia University, where he has served as an adjunct professor and advisory board member to the School of Business. Fluent in Italian, Sal was born in Palermo Sicily, immigrated to the United States in 1968, and became a citizen in 1986.
With his incredible legacy of impact, we aren’t the only ones with wonderful memories of Walt and his incredible work. Here’s what others had to say.
More About Walt’s Impact