Pennsylvania Real Estate Investment Trust is buying the 901 Market St. office building from Vornado Realty the north face denali hoodie jacket Trust and is closing in on an announcement about its top-to-bottom renovation to the Gallery along East Market Street in Philadelphia, according to people familiar with the matter.The acquisition of 901 Market, a 430,000-square-foot building, allows PREIT some flexibility as it overhauls the Gallery and gives it control of that stretch of Market Street. The developer could use some of the space from 901 to bolster the mall. The overall project, including acquisition and renovation costs, is pegged at roughly $300 million.PREIT (NYSE:PEI) already owns 801 Market St. The building the north face down jacket at 901 Market is 78.1 percent occupied. Health Partners leases 130,000 square feet of it, according to Vornado’s annual report filed with the Securities Exchange Commission. Vornado (NYSE:VNO), a New York real estate investment trust, declined comment. PREIT didn’t return calls for comment.PREIT has long discussed a phased project that would transform the Gallery into a modern, upscale urban mall with more dining options and retailers that appeal to consumers who are fashion-conscious and keep up with style trends. The building would be turned inside out with storefronts overlooking Market Street. PREIT had hoped to have started on the project last year but a launch is expected to be announced by year end, according to a person familiar with the plans.A new sign district was formed along that part of Market Street that allows high-tech animated, digital billboards on buildings. the north face gore tex jacket It was a key component to the revitalization of East Market since revenue generated from advertising on those signs will help finance some of the development costs. The Gallery totals 1.1 million square feet and an opened in 1977. Some of its anchors include Big K, Burlington Coat Factory and Old Navy.