developments - Center City District

Transcription

CENTER CITY PHILADELPHIA
DEVELOPMENTS
2015–2019
CENTER CITY DISTRICT AND CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION
CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG
INTRODUCTION
2
DEVELOPMENTS MAP
4
COMMERCIAL/MIXED-USE
6
CULTURAL
10
GOVERNMENT & NON-PROFIT INSTITUTIONS
11
HEALTHCARE & EDUCATION
12
HOSPITALITY
13
PUBLIC SPACE
17
RESIDENTIAL
20
RESIDENTIAL/MIXED-USE
25
RETAIL
43
ACKNOWLEDGMENTS
44
INTRODUCTION
Construction cranes are visible everywhere. Eleven major
development projects, totaling almost $200 million, were completed in 2015 between Fairmount and Washington Avenues,
river to river. Another 42 projects of all types, totaling $5.2
billion in new investment were under construction at the end of
December 2015, while 29 more, totaling $3 billion, have been
announced.
Residential developments are setting the pace. Half of the
82 projects counted in this report are residential/mixed-use;
another 11 are strictly residential. Remaining projects include
hotels, commercial/mixed-use, public space improvements,
retail, healthcare and education, government and non-profit,
and cultural developments. All are categorized by type and are
mapped on pages 4–5.
Still, the largest development in the city’s history is Liberty
Property Trust’s $1.5 billion Comcast Innovation and Technology
Center. The new tower, rising at 18th and Arch Streets, will add
more than 1.3 million square feet of trophy office space downtown; all will be leased by Comcast. A much smaller cluster of
creative office space is under construction east of Broad Street
signaling a new interest in more flexible workspace in the rapidly
improving East Market corridor.
Significant improvements in Pennsylvania Convention Center
management and well-targeted, successful advertising for leisure, convention and business travel have created more demand
for downtown hotel rooms. Eleven hotels are under construction
or are in the pipeline, including a new Four Seasons, W Hotel,
Element by Westin, Aloft, Cambria, and Fairfield Inn. In all, Center City will add 2,772 new hotel rooms, pushing the downtown
total over 13,000 rooms by 2019.
MAJOR DEVELOPMENTS IN CENTER CITY BY TYPE
AND SQUARE FOOTAGE
62% RESIDENTIAL/MIXED-USE
17,224,912 SF
13% COMMERCIAL/MIXED-USE
3,529,476 SF
7% HOSPITALITY
1,911,051 SF
6% RESIDENTIAL
1,796,454 SF
6% RETAIL
1,560,000 SF
3% HEALTHCARE/EDUCATION
759,656 SF
2% PUBLIC SPACE
611,087 SF
1% CULTURAL
286,000 SF
0.3% GOVERNMENT & NON-PROFIT
Since 2000, Center City’s population has increased 17%, as
millennials, empty-nesters, and families with children have
chosen to live near work and a broad range of dining, cultural,
and entertainment offerings. Currently, 4,185 units are under
construction and scheduled for completion by 2018. Several
thousand more units have been announced.
The combined effect of a growing residential population, increasing overnight visitation and steady job growth has spurred
several large-scale retail projects, such as National Real Estate
Development’s East Market project, scheduled for completion in
2017, and PREIT and Macerich’s redevelopment of The Gallery,
scheduled for completion in 2018. Almost 2.9 million square feet
of retail is expected to be added with a majority located east of
Broad Street, where there is room to accommodate the larger
floor plates that big-box retailers prefer.
MAJOR PROJECTS COMPLETED IN 2015
AND IN THE PIPELINE
$8.5 BILLION
IN MAJOR DEVELOPMENTS
10,721
RESIDENTIAL UNITS
2,772
HOTEL ROOMS
3,529,476 SF
OF COMMERCIAL/MIXED-USE
27.8 MILLION
TOTAL SF
2,860,139 SF
OF NEW RETAIL*
Source: Developments Database, Center City District
Note: Several of the projects included on the map had not yet announced completion dates, development costs, or square
footage as of the end of Q4 2015. As a result, these figures are not included in the respective totals.
*The total square footage for new retail includes the total square footage of developments categorized as “retail” projects, as well as any retail square footage in developments categorized as “residential/mixed-use,”
“commercial/mixed-use” and “hospitality” projects.
93,000 SF
2
INTRODUCTION
MAJOR DEVELOPMENTS IN CENTER CITY
BY COMPLETION DATE
MAJOR DEVELOPMENTS IN CENTER CITY BY STATUS
DEVELOPMENTS
14% COMPLETED
51% UNDER CONSTRUCTION
35% ANNOUNCED
25
20
82
15
TOTAL
DEVELOPMENTS
10
5
0
11
23
24
12
3
9
2015
2016
2017
2018
2019
TBD
THE LARGEST DEVELOPMENT IN THE CITY'S HISTORY IS THE
$1.5 BILLION COMCAST INNOVATION AND TECHNOLOGY
CENTER, RISING AT 18TH AND ARCH STREETS.
DELIVERY OF RESIDENTIAL UNITS IN MAJOR DEVELOPMENTS IN CENTER CITY
COMPLETED
RESIDENTIAL UNITS
UNDER CONSTRUCTION
ANNOUNCED
3,500
3,000
2,500
835
2,000
1,500
1,000
500
0
834
1,829
2,056
1,461
300
319
2015
2016
2017
2018
2019
3,087
TBD
3
DEVELOPMENTS
DEVELOPMENTS
54
FAIRM
DEVELOPMENTS IN
CENTER CITY
74
OUNT AVE
71
10
31
55
HOSPITALITY
59
40
12
VINE ST
20
67
18
RESIDENTIAL
35
RETAIL
MARKET ST
68
46
2
23
45
Source: Development Database,
Center City District
70
5
41
80
64
15
36
21
26
62
75
30
60 7
63
17
81
6
14 48
56
77
19
69
PINE ST
47
58 4
44 16 33 3
61
72
8
82
City Hall
29
13
24
73
11
PUBLIC SPACE
GOVERNMENT &
NON-PROFIT INSTITUTIONS
1
32
BROAD ST
CULTURAL
51
52
22
39
53
78
42
WASHINGTON AVE
79
57
TASKER ST
WHILE HOUSING STILL DOMINATES,
A BROAD RANGE OF OFFICE,
HOTEL AND RETAIL DEVELOPMENTS
ARE UNDERWAY ACROSS CENTER CITY.
4
37
DEVELOPMENTS
1. SoNo
2. Stock Exchange
Building Renovation
28
3. The Hale Building
50
4. The Steele Building
5. Comcast Innovation
and Technology Center
6. The Bourse
66
49
65
7. 1618-22 Chestnut
76
43
38
34
67. One Franklin Tower
28. S
pring Garden
Street Connector
68. 2400 Market Street
RESIDENTIAL
70. The Roosevelt Apartments
29. One Riverside
30. T
he Residences at
Two Liberty Place
66. One Water Street
69. 1401 Spruce Street
71. Transatlantic
72. Francis House of Peace
73. 1601 Vine Street
32. Museum Towers II
75. 1911 Walnut Street
CULTURAL
33. The Griffin
76. The National
9. Museum of the
American Revolution
34. BridgeView
77. 1213 Walnut
35. 1900 Arch Expansion
78. 2400 South
36. 401 Race Street
79. 1001 South Broad
37. 500 Walnut
80. 900-934 Callowhill
38. 410 at Society Hill
RETAIL
GOVERNMENT &
NON-PROFIT INSTITUTIONS
27
27. Penn's Landing
74. 1300 Fairmount
10. Philadelphia Museum
of Art Expansion
9
65. 218 Arch Street
31. Mural Arts Lofts
8. PPA 8th & Filbert Garage
25
26. J ohn F. Kennedy Plaza/
LOVE Park
11. Philadelphia Pennsylvania
Mormon Temple
12. The Free Library of
Philadelphia Parkway
Central Renovation
39. Waverly Court
40. Park Towne Place
42. Lincoln Square
43. The Shirt Corner
44. Avenir
13. Children's Hospital of
Philadelphia - Schuylkill
Avenue, Phase I
45. AQ Rittenhouse
HOSPITALITY
15. Marriott AC
16. W Hotel and Element
by Westin
17. Hyatt Centric
18. The Logan
19. Cambria Hotel & Suites
20. Kimpton Hotel
21. Aloft Hotel
22. Fairfield Inn and
Suites by Marriott
PUBLIC SPACE
46. 1919 Market
47. M
ellon Independence
Center (MIC) Tower
48. 1112-1128 Chestnut Street
49. Bridge
50. Renaissance Plaza
51. S
LS LUX Philadelphia
Hotel & Residences
52. The Hyde
53. Royal Theater
54. Divine Lorraine
55. Rodin Square
56. The Curtis Center
57. 9th and Washington
58. East Market, Phase I
59. Hanover North Broad
60. 1700 Chestnut
23. June 5th Memorial Park
61. The Beacon
24. Viaduct Rail Park, Phase I
62. 19th + Chestnut
25. Race Street Connector,
Phase II
63. The Latham
82. F
ashion Outlets
of Philadelphia
41. The Sterling
14. Thomas R. Kline Institute
of Trial Advocacy
81. 1436-28 Walnut
64. E
astern Tower
Community Center
5
1. SoNo
DEVELOPER: Alliance Partners HSP, LLC
LOCATION: 456 North 5th Street
SIZE: 225,000 sf
START DATE: Q3/Q4 2016
COMPLETION DATE: Q2/Q3 2017
STATUS: Announced
INVESTMENT: $30 Million+
Alliance Partners HSP, LLC
DESCRIPTION: Alliance Partners HSP will be converting the former
Destination Maternity warehouse, located between Philadelphia’s
downtown core and Northern Liberties’ millennial workforce, into a
mixed-use project. Called SoNo, this project will likely feature a mix
of office, retail and residential uses consistent with the new CMX
zoning overlay that covers 2nd to 6th Streets and Spring Garden to
Callowhill Streets.
2. STOCK EXCHANGE BUILDING RENOVATION
DEVELOPER: Brandywine Realty Trust
LOCATION: 1900 Market Street
SIZE: 456,922 sf
START DATE: July 2014
COMPLETION DATE: January 2016
STATUS: Completed
INVESTMENT: $21 Million
DESCRIPTION: Brandywine Realty Trust completed renovating the
interior and exterior of 1900 Market Street, the former Stock
Exchange Building, in January 2016. The renovation brings the
office building up to Class A standards and includes open-floor
plans with collaborative work and meeting areas. It was announced in April 2015 that Independence Blue Cross will lease
a significant portion of the renovated building, taking 112,000
sf on two floors. The building has approximately 25,000 sf of
retail on the ground floor and will include a 7,000-sf Wawa, the
company’s largest.
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Granum Associates
3. THE HALE BUILDING
DEVELOPER: Brickstone Realty
LOCATION: 1326 Chestnut Street
SIZE: 47,940 sf
START DATE: October 2015
COMPLETION DATE: December 2016
STATUS: Under Construction
DESCRIPTION: Brickstone Realty purchased the historic Hale Building at Chestnut and Juniper Streets in September 2015 for $4.7 million. Plans include
adding creative office space on floors three through eight and two retail
spaces totaling 10,205 sf – a multi-story restaurant on Chestnut Street and
café on Sansom Street. The building will include a roof deck divided into
multiple spaces to be shared by office users.
JKRP Architects
4. THE STEELE BUILDING
LOCATION: 15 South 11th Street
SIZE: 36,000 sf
START DATE: 2015
DESCRIPTION: Brickstone is currently converting the Steele Building
into a mixed-use property that will include four floors of creative
office space (23,255 sf) and a bi-level restaurant/retail space
(8,500 sf). The project will include a full façade restoration and
roof-top deck for office space.
DAS Architects
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5. COMCAST INNOVATION AND TECHNOLOGY CENTER
DEVELOPER: Liberty Property Trust
OWNER: Comcast Corporation and Liberty Property Trust
LOCATION: 1800 Arch Street
SIZE: 1,803,000 sf
HOTEL ROOMS: 222
START DATE: Summer 2014
COMPLETION DATE: Q1 2018
INVESTMENT: $1.5 Billion
DESCRIPTION: The 60-story Comcast Innovation and Technology Center will be
1,121 feet high and the tallest building in the United States outside of New
York City and Chicago. Designed by world-renowned architect Norman Foster,
with interiors designed by Gensler, the building will provide office space for
Comcast and house the 222-room Four Seasons Hotel. The project will add
1,330,000 sf of rentable office space, 230,112 sf of hotel space, and 2,682 sf
of retail space. Comcast plans to relocate NBC 10 and Telemundo from Bala
Cynwyd to the new office tower in Center City, adding a media center in the
heart of the downtown, as well as housing a state-of-the-art incubator space
for local technology start-ups.
Comcast
6. THE BOURSE
DEVELOPER: MRP Realty
LOCATION: 400 Market Street, 325 Chestnut Street,
111 South Independence Mall East and 400 Ranstead Street
SIZE: 702,014 sf
START DATE: TBD
COMPLETION DATE: TBD
STATUS: Announced
DESCRIPTION: Washington, D.C.-based MRP Realty purchased Kaiserman’s Old
City portfolio that includes three office buildings and a garage with movie
theater for $110 million. Preliminary plans include upgrades to the Class B
office space, including façade renovations, new common areas and amenity
spaces, as well as repositioning of the ground-floor retail at the Bourse and
garage where the movie theater is located.
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7. 1618-22 CHESTNUT
DEVELOPER: Pearl Properties
LOCATION: 1618-22 Chestnut Street
SIZE: 100,000 sf
START DATE: Q4 2015
COMPLETION DATE: Summer 2016
DESCRIPTION: Pearl Properties purchased the Art Deco building from the Art Institute of
Philadelphia in August 2015. The project, currently under construction, will include
an Old Navy flagship on three levels and 75,000 sf of office space on the upper floors.
Pearl Properties
8. PHILADELPHIA PARKING AUTHORITY’S
8TH & FILBERT GARAGE
DEVELOPER: Philadelphia Parking Authority (PPA)
LOCATION: 801 Filbert Street
SIZE: 158,600 sf
START DATE: 2013
COMPLETION DATE: Winter 2016
STATUS: Under Construction (substantially complete)
DESCRIPTION: This project turns the 8th and Filbert garage into a
gateway between Chinatown and Market Street by improving
the streetscape. Designed by Wallace Roberts & Todd (WRT), it
includes equipping the parking garage with new façades, green
elements, new interior paint and lights, as well as LED lights
hanging over 8th Street. Retail spaces under the garage will be
revamped into a retail corridor. To green the 100% impervious
structure, WRT designed rooftop cisterns that will catch water
for pressure washing and other garage maintenance. The design
will also make use of plant material to capture water, soften the
garage’s landscape, cut glare, and provide memory markers for
those walking or driving through the garage. At the end of 2015,
the project was substantially completed.
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CULTURAL
9. MUSEUM OF THE AMERICAN REVOLUTION
DEVELOPER: Museum of the American Revolution
LOCATION: Southeast corner of 3rd and Chestnut Streets
SIZE: 117,000 sf
START DATE: 2014
COMPLETION DATE: 2016
NC3D for Robert A.M. Stern Architects
DESCRIPTION: Designed by Robert A.M. Stern Architects, the
museum will add another attraction to Philadelphia’s
historic district. Philadelphia-based INTECH Construction demolished the old Bicentennial Visitor Center in
Spring 2014, and construction began in the fall. The
development of the building and the museum’s exhibits
are expected to generate a one-time economic impact
of $135.9 million in direct and indirect spending. The
museum plans to open to the public in spring 2017.
10. PHILADELPHIA MUSEUM OF ART EXPANSION
DEVELOPER: Philadelphia Museum of Art
LOCATION: 2600 Benjamin Franklin Parkway
SIZE: 169,000 sf
START DATE: TBD
STATUS: Announced
INVESTMENT: $150 Million-$160 Million (Phase I)
Philadelphia Museum of Art
DESCRIPTION: Designed by world-renowned architect Frank Gehry, the proposed expansion and renovation of the Philadelphia Museum
of Art will add 124,000 sf of interior public space, including 78,000 sf of gallery space throughout the building. Gehry’s design focuses
on the transformation of the interior of the Museum through the renovation of Great Stair and Lenfest Halls, as well as major improvements to visitor entry and movement through the building. Other changes include renovation of the auditorium and the addition
of a 640-foot-long vaulted corridor that runs the length of the central building. Given the Museum’s prominence as a Philadelphia
landmark, Gehry Partners and OLIN have proposed minimal alterations to the exterior of the building. These include redesign of the
plaza in front of the western entrance, landscaping of an area now used for parking, and integration of skylights and sunken gardens
into the east terrace to bring natural light into the new galleries. Development plans are modular and will unfold in at least two
phases, allowing for pieces of the project to be built at different times as funding becomes available. The project cost of the multiphase project will total $350 million.
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GOVERNMENT & NON-PROFIT INSTITUTIONS
11. PHILADELPHIA PENNSYLVANIA MORMON TEMPLE
DEVELOPER: Church of Jesus Christ of the Latter-day Saints
LOCATION: 1739 Vine Street
SIZE: 53,000 sf
START DATE: 2013
DESCRIPTION: The first Mormon Temple in Pennsylvania, designed
by Perkins+Will, is being built on what used to be a 1.6-acre
surface parking lot. The temple will include stained glass along
the length of the building, a landscaped plaza with reflecting
pool and public gardens, underground parking, and a 200-foot
double spire meant to resemble that of Independence Hall’s.
Additionally, a separate Meetinghouse for the Church of Jesus
Christ of Latter-day Saints is being built at 17th and Vine
Streets.
FFKR Architects
12. THE FREE LIBRARY OF PHILADELPHIA
PARKWAY CENTRAL RENOVATION
DEVELOPER: The Free Library of Philadelphia
SIZE: 40,000 sf
START DATE: Fall 2016
COMPLETION DATE: Winter 2018
STATUS: Announced
The Free Library of Philadelphia
DESCRIPTION: In September 2014, the Free Library received a $25 million grant from the William Penn Foundation to renovate various
neighborhood libraries, $8 million of which was dedicated to the creation of several new public spaces at the Parkway Central
Library designed by internationally acclaimed architect Moshe Safdie—The Common, the Business Resource and Innovation Center
(BRIC), the Marie and Joseph Field Teen Center, and an expanded grand staircase connecting old spaces with new. The Common
will serve as an active community space where individuals can gather to create, collaborate, and share. The BRIC will offer incubator space for new projects and assist entrepreneurs with realizing their ideas. The Field Teen Center will allow the Library to
provide enhanced and expanded teen programming. With a budgeted project cost of $35 million, the Free Library has to raise an
additional $13 million to reach its goal and complete this phase of renovations at the Parkway Central Library.
11
13. CHILDREN’S HOSPITAL OF PHILADELPHIA SCHUYLKILL AVENUE, PHASE I
DEVELOPER: Children’s Hospital of Philadelphia
LOCATION: 2716 South Street
SIZE: 735,656 sf
COMPLETION DATE: Spring 2017
INVESTMENT: $250 Million to $500 Million
(media estimates)
Ballinger and Pelli Clark Pelli Architects
DESCRIPTION: As the first phase of a four-phase master plan, the project includes the construction of a new,
21-story, Class A office tower to be used by the Children’s Hospital of Philadelphia (CHOP) for clinical
research and administrative programs. The tower will house a research staff of 1,000 and include utilities,
infrastructure, structured parking, and loading. Phase I will also include surface parking and several public
realm spaces (South Street Plaza, Bainbridge Place, and Schuylkill Green), while allowing for a future connection to the Schuylkill River Trail. CHOP is negotiating with CSX for a promenade over the tracks and
a bridge to Schuylkill Banks.
14. THOMAS R. KLINE INSTITUTE OF TRIAL ADVOCACY
DEVELOPER: Drexel University
SIZE: 24,000 sf
INVESTMENT: $14.8 Million
Drexel University Communications
12
DESCRIPTION: The former Beneficial Bank designed by Horace
Trumbauer on the corner of 12th and Chestnut Streets was acquired by attorney Thomas R. Kline in July 2013. In September
2014, he donated the building to Drexel as part of a $50 million
gift to its Law School. The building will house the Thomas R.
Kline Institute of Trial Advocacy and will include programming
for law students and the LLM program.
HOSPITALITY
15. MARRIOTT AC
DEVELOPER: Baywood Hotels
LOCATION: 228-38 North 13th Street
HOTEL ROOMS: 150
START DATE: TBD
STATUS: Announced
DESCRIPTION: The historical building, designed by William Harold
Lee, was first constructed as a Warner Brothers film exchange
facility and was put up for sale in the summer of 2014. Hotel developer Baywood Hotels is interested in the site given its proximity to the Pennsylvania Convention Center, and is proposing
the addition of a 12-story hotel on top of the existing two-story
structure. The hotel flag will be a Marriott AC, Marriott’s European brand, the first in Philadelphia and one of the first in the
United States. The proposed hotel will include meeting rooms,
a fitness center and pool, and will have 12 guest rooms per
floor. The building is proposed LEED Gold and will include a
green roof.
spg3 architects
16. W HOTEL AND ELEMENT BY WESTIN
DEVELOPER: Chestlen Development
SIZE: 770,607 sf
HOTEL ROOMS: 755
START DATE: March 2015
DESCRIPTION: The 51-story hotel will be 582 feet tall and have 295 rooms under the
W Hotel flag and 460 rooms under the Element by Westin. Each hotel will have a
separate entrance and lobby. The W will have an entrance on Chestnut Street, a
150-seat, ground-floor destination restaurant, 7,000-sf outdoor terrace with yearround outdoor pool and destination bar, a spa and gym, and 45,000 sf of meeting and
event space. The ground floor will provide elevator access to the Element’s main
lobby on the second floor. The Element will have a breakfast and lounge area, fitness
center, branded meeting space, and will seek LEED certification. Once the project is
completed, its market value is expected to reach $95.8 million and generate $220.6
million in incremental tax revenues over 20 years. The project will receive $33 million in Tax Increment Financing.
Cope Linder
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HOSPITALITY
17. HYATT CENTRIC
DEVELOPER: Clemens Construction
LOCATION: 1602-34 Chancellor Street
SIZE: 219,600 sf
HOTEL ROOM: 310
START DATE: TBD
STATUS: Announced
DESCRIPTION: Designed by DAS Architects, the $125 million property will feature
high-end amenities, sustainable building materials, 310 guest rooms and a
penthouse floor with panoramic city views. The property will also include two
stories of luxury retail shops, at least one restaurant and bar, as well as special
events and meeting facilities.
18. THE LOGAN
DEVELOPER: Host Hotels & Resorts and Sage Hospitality
LOCATION: One Logan Square
SIZE: 329,844 sf
HOTEL ROOMS: 391
START DATE: June 2015
STATUS: Completed
© 2016 Curio
14
DESCRIPTION: Sage Hospitality took over operations of the former
Four Seasons Hotel at Logan Square in June 2015. The renovated property reopened at the end of 2015 as a 4.5-star hotel, The
Logan. The $28 million renovation included extensive improvements to the ballroom, meeting space, and fitness center, as
well as an added roof-top lounge, high-end coffee bar, and a
new restaurant called The Urban Farmer. The Logan is a Curio,
A Collection by Hilton Hotel, and includes 391 rooms, 64 of
which are suites.
HOSPITALITY
19. CAMBRIA HOTEL & SUITES
LOCATION: 219-225 South Broad Street
SIZE: 176,000 sf
HOTEL ROOMS: 220
START DATE: 2015
DESCRIPTION: Choice Hotels International announced in November
that they had signed an agreement with franchise partner Pearl
Properties to develop a new Cambria Hotel & Suites in Center
City. The 15-story hotel will be located on the northeast corner
of Broad and Locust Streets, along the Avenue of the Arts, and
will add 20,000 sf of retail. The hotel will be owned by Pearl
Properties and managed by Concord Hospitality, one of the
nation’s leading lodging management companies.
Pearl Properties
20. KIMPTON HOTEL
DEVELOPER: Peebles Corp. and P&A Associates
SIZE: 250,000 sf
HOTEL ROOMS: 199
START DATE: December 2016
COMPLETION DATE: June 2018
STATUS: Announced
DESCRIPTION: The former Family Court building will be redeveloped
into a hotel now that the Court has moved to its new location at
15th and Arch Streets. The building’s interior, including all 37
murals and lighting fixtures, were designated historically significant in 2011 and will remain intact. The project will include 199
rooms, a 3,500-sf ballroom, meeting and board rooms, a spa
and fitness center, and a restaurant and bar.
Gensler
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HOSPITALITY
21. ALOFT HOTEL
DEVELOPER: Realen and HRI Properties
LOCATION: 101 North Broad Street
SIZE: 115,000 sf
HOTEL ROOMS: 179
START DATE: 2015
DESCRIPTION: Realen has acquired the historically certified 21-story Liberty
Title and Trust Building and together in a joint venture with HRI Properties of New Orleans is in the process of restoring the building and converting it into a 179-key Aloft Hotel by Starwood. The building is situated
adjacent to and will have direct access to the main entrance lobby of the
expanded Pennsylvania Convention Center.
Realen
22. FAIRFIELD INN AND SUITES BY MARRIOTT
DEVELOPER: The Wankawala Organization
SIZE: 50,000 sf
HOTEL ROOMS: 118
START DATE: 2015
DESCRIPTION: The Wankawala Organization purchased the Parker-Spruce
Hotel on the corner of 13th and Spruce Streets and plans to renovate the
property into a Fairfield Inn and Suites by Marriott. Marriott has waived
the prototype requirements, giving the project a custom buildout and
boutique-like feel.The new Fairfield Inn and Suites, designed by SgRA
Architects, will have a small meeting room, fitness facility and corner
restaurant space that serves as the breakfast area, and switches over to
a full-service restaurant, possibly with outdoor dining, in the evening.
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PUBLIC SPACE
23. JUNE 5TH MEMORIAL PARK
DEVELOPER: June 5th Memorial Park Committee
SIZE: 3,125 sf
START DATE: April 2016
COMPLETION DATE: November 2016
DESCRIPTION: On June 5, 2013, a bungled building
demolition collapsed a party wall, destroying a
Salvation Army Thrift Store at 22nd and Market
Streets, killing six people. This preventable tragScott Aker, AIA
edy will be perpetually memorialized through
the creation of a memorial park on the site that will provide a contemplative respite for visitors while preserving the
memory of those lost. With a sensitive design that includes a compelling, memorial public sculpture, landscaping,
interpretive information, innovative lighting and the highest quality of materials, this public park will become part of
the Fairmount Park system upon completion.
24. VIADUCT RAIL PARK, PHASE I
DEVELOPER: Center City District
LOCATION: Callowhill Street to Noble Street
SIZE: 26,000 sf
START DATE: 2016
STATUS: Announced
DESCRIPTION: The Viaduct Rail Park project seeks to transform
the abandoned railway that slices through the area between
Chinatown and Fairmount Avenue into a public park. The
Center City District was drawn to the project because of the
success of the High Line elevated park in New York City, and
saw an opportunity to add residential and light commercial
development in the expanding communities of Center City
and Chinatown. With 32% of the land in the area around the
Viaduct still currently vacant and undeveloped, the opportunity
exists to create a unique, mixed-use, mixed-income neighborhood. Phase I of the project will involve the transformation of a
26,000-sf section of the Viaduct known as the SEPTA Spur, and
will include landscaping, adding stairs that connect the railway
to the street level, waterproofing the viaduct’s leaking underside, and environmental remediation.
17
PUBLIC SPACE
25. RACE STREET CONNECTOR, PHASE II
DEVELOPER: Central Delaware Waterfront Corporation
LOCATION: North side of Race Street between 2nd Street
and Columbus Boulevard
START DATE: 2016
STATUS: Announced
Delaware River Waterfront Corporation
DESCRIPTION: This project will improve pedestrian and bicycle access to the
Race Street Pier from Front and Race Streets. New lighting, landscaping and hardscaping are designed to make traveling from neighborhood
to waterfront more convenient and pleasant. The project is part of a
long-term vision for the Central Delaware Waterfront. Phase I of the
project was completed in the fall of 2012 and Phase II will be completed
in 2016.
26. JOHN F. KENNEDY PLAZA/LOVE PARK
DEVELOPER: City of Philadelphia/InterPark
LOCATION: 16th Street and John F. Kennedy Boulevard
SIZE: 102,802 sf
START DATE: February 2016
KieranTimberlake
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DESCRIPTION: In February 2016, the City of Philadelphia
broke ground on a project to rehabilitate John F. Kennedy Plaza, known as LOVE Park. The new design will replace the park’s clunky hardscaping with gently sloping
lawns and colorful flower beds. The cylindrical building
that currently houses an information center will become
a food and beverage operation, while the large central
fountain will shrink slightly and will be accompanied by
a “Bird’s Nest” of smaller criss-crossing jets. Robert
Indiana’s famous LOVE sculpture will remain, and be
resituated to take advantage of optimal sightlines along
the Benjamin Franklin Parkway.
PUBLIC SPACE
27. PENN’S LANDING
DEVELOPER: Delaware River Waterfront Corporation
LOCATION: Delaware River Waterfront/Penn’s Landing Area
between Market and South Streets
SIZE: 479,160 sf
START DATE: TBD
STATUS: Announced
Hargreaves Associates and Redsquare
DESCRIPTION: An 11-acre park will stretch from Front Street to the Delaware River, capping I-95 and engineered so that trees can be planted on what feels like ground level. The park will end at the waterfront
in a large public space, framed by an amphitheater. By creating this public amenity, the $250 million investment will spur development (an estimated $800 million to $1 billion), creating a mixed-use residential neighborhood. There will be low-rise residential development with mixed uses on the ground floor
starting along the middle of the boat basin, and mid-rise residential development near the rebranded
Hilton Hotel. The pier at the end of the boat basin will host residential and commercial development,
with the very end reserved as public space.
28. SPRING GARDEN STREET CONNECTOR
DEVELOPER: Delaware River Waterfront Corporation
LOCATION: I-95 Overpass at Spring Garden Street
START DATE: 2015
DESCRIPTION: As part of its connector street program, the Delaware River Waterfront Corporation is currently
working with RBA group to design streetscape improvements to Spring Garden Street between Columbus
Boulevard/Delaware Avenue and 2nd Street, including a new lighting and public art installation under the
I-95 overpass and Spring Garden transit stop. The streetscape improvements were completed in Fall 2015
and the underpass lighting and artistic screens will be installed in Winter 2016. The artistic lighting and
screens were designed by Cloud Gehshan Associates and The Lighting Practice and fabricated by Urban
Sign. This project is intended to improve pedestrian and bike connections from Northern Liberties to the
riverfront, increase usage of public transportation, and ultimately connect to the waterfront trail.
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RESIDENTIAL
29. ONE RIVERSIDE
DEVELOPER: Dranoff Properties
LOCATION: 210-20 South 25th Street
SIZE: 167,610 sf
RESIDENTIAL UNITS: 82
START DATE: May 2015
COMPLETION DATE: August 2017
Dranoff Properties
DESCRIPTION: Located at the intersection of 25th and Locust Streets, at the entrance to
Schuylkill River Park, the high-rise will offer views of University City, the river, and
the downtown skyline. The new 22-story glass skyscraper will feature 82 condominiums with high-level finishes and balconies, 110 underground parking spaces, fitness
center, in-door pool, club room, hospitality suite, and business center. Plans include a
private garden with broad lawns, as well as a separate terrace adjoining the lobby with
an outdoor kitchen. One Riverside will be the first from-the-ground-up high-rise condo building started since the financial crisis derailed the 2004-08 construction boom.
30. THE RESIDENCES AT TWO LIBERTY PLACE
DEVELOPER: Dranoff Properties and iStar Financial, Inc.
SIZE: 116,600 sf
COMPLETION DATE: March 2016
STATUS: Completed
Dranoff Properties
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DESCRIPTION: iStar Financial completed the remaining
portion of the 58-story skyscraper, Two Liberty Place.
They have partnered with Dranoff Properties and
converted the space into 73 luxury condominiums on
floors 48-57. The sales center opened in March 2015
on the 44th floor with completely redesigned residential units. An upgraded lobby, street entrance, and
amenities were also included.
RESIDENTIAL
31. MURAL ARTS LOFTS
DEVELOPER: EB Realty Management Corporation
SIZE: 72,000 sf
STATUS: Completed
Moustafa Moustafa
DESCRIPTION: Purchased by Eric Blumenfeld’s EB Realty Management Corporation in 2012, the former Thaddeus
Stevens School was redeveloped into spacious boutique-style lofts. The building on the corner of North Broad and
Spring Garden Streets includes the “Common Threads” mural on its west-facing façade. The project incorporated
existing elements found in the school into the residential conversion, including existing chalkboards and oak cabinetry from the classrooms. The project team included architect Richard Sauder, engineer David Chou and construction
company Domus.
32. MUSEUM TOWERS II
DEVELOPER: Forest City Residential Group
LOCATION: 1801 Buttonwood Street
SIZE: 434,000 sf
START DATE: 2015
DESCRIPTION: The existing Museum Towers residential complex is
set to double in size. Phase II construction plans include a 270unit, 16-story tower, 16 townhomes and a 400-space parking
garage. The project will sit on what is now a surface parking lot
and will include improvements to the adjacent Matthias Baldwin
Park. The project team includes Perkins Eastman Architects,
Urban Engineers, and law firm Stevens & Lee, P.C.
Perkins Eastman Architects
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RESIDENTIAL
33. THE GRIFFIN
DEVELOPER: MRP Residential and Principal Real Estate Investors
SIZE: 209,095 sf
START DATE: Q4 2014
DESCRIPTION: MRP Residential and Principal Real Estate Investors acquired the
property for a reported $33 million in February 2014 and are redeveloping
the property while maintaining the existing façade and structural systems.
Upgrades will include a new lobby, fitness center, theater room, interior
landscaped courtyard, clubroom, roof deck, and renovated elevator cabs. This
is the Washington, D.C.-based company’s first acquisition in the Center City
market.
JKR Partners
34. BRIDGEVIEW
DEVELOPER: National Realty Investment Advisors
LOCATION: 787 Swanson Street
SIZE: 171,000 sf
JRKP Architects
DESCRIPTION: National Realty Investment Advisors is developing
a 75-townhome development in Queen Village, where the I-95
Washington Avenue off-ramp meets Columbus Boulevard. Each
three-bedroom, three-bath home will be 1,800 square feet –
three stories on a 16-by-45-foot footprint. Each will also have
its own rooftop deck – the sights from which inspired the name,
BridgeView. The development is designed by JKR Partners of
Philadelphia.
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RESIDENTIAL
35. 1900 ARCH EXPANSION
DEVELOPER: PMC Property Group
SIZE: 57,000 sf
START DATE: September 2014
STATUS: Completed
PMC Property Group
DESCRIPTION: Given the success of 1900 Arch, the developer added a 55-unit expansion on the building’s west
side that runs parallel to the existing structure, from Arch to Cuthbert. The addition brings the complex’s
total unit count to 303. Designed by Varenhorst of Philadelphia, it includes a private courtyard on the first
level, as well as a green roof and other sustainable features.
36. 401 RACE STREET
DEVELOPER: Priderock Capital Partners, LLC
LOCATION: 401 Race Street
SIZE: 193,589 sf
START DATE: Q1 2016
STATUS: Announced
DESCRIPTION: Priderock Capital Partners, LLC is
planning to construct a new 193,589 sf residential development in Old City. The project, which is
within walking distance of Franklin Square and the
many retail and cultural attractions in Old City, will
add 216 apartments to the area. It will also include
two interior courtyards, 144 parking spaces in an
underground parking lot, and an additional 40 in a
surface parking lot.
BartonPartners
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RESIDENTIAL
37. 500 WALNUT
DEVELOPER: Scannapieco Development Corporation
LOCATION: 500 Walnut Street
SIZE: 178,000 sf
Scannapieco Development Corporation
DESCRIPTION: The 26-story “glass-needle” tower overlooking Independence Hall is designed by
Cecil Baker + Associates and built on an 18,155-sf site that has been vacant for more than
a decade. The amenity-rich building will have 38 condominiums and offer everything from a
multi-level, glass-enclosed fitness center to a large outdoor terrace overlooking Independence
National Historical Park. It will also include a 90-space, underground, fully-automated parking
system that stores and retrieves vehicles in less than 90 seconds.
JRKP Architects
38. 410 AT SOCIETY HILL
DEVELOPER: Toll Brothers
LOCATION: 410 South Front Street
SIZE: 151,560 sf
START DATE: 2013
COMPLETION DATE: Fall 2015
STATUS: Completed
DESCRIPTION: Located at the former New Market
site on the eastern hem of Headhouse Square
and Front Street, the project includes 55 luxury
condominiums ranging from one to four bedrooms. The building also includes a courtyard,
rooftop terrace, and 110 parking spaces.
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39. WAVERLY COURT
DEVELOPER: Yess Properties
SIZE: 46,000 sf
DESCRIPTION: JKRP Architects is designing a six-story building on a former
surface parking lot next to the existing Waverly Court building. The existing
building will gain a two-story addition. The building will house 61 apartments, 6 parking spaces for cars and 38 parking spaces for bicycles.
RESIDENTIAL/MIXED USE
40. PARK TOWNE PLACE
DEVELOPER: Aimco
LOCATION: 2200 Benjamin Franklin Parkway
SIZE: 1,179,000 sf
START DATE: 2013
Aimco
DESCRIPTION: Each unit of this 973-unit complex built in 1959 will be totally gutted,
re-configured, and updated. A new swimming pool, three-season outdoor area,
and fitness facility will also upgrade the building. A three-acre park in front of
the complex will be reactivated with art, sculpture, and spaces for gathering.
The developer is in negotiations to bring a restaurant to the building, which
has 28,000 sf of retail space.
BLT Architects
Aimco
41. THE STERLING
42. LINCOLN SQUARE
DEVELOPER: Aimco
DEVELOPER: Alterra Property and MIS Capital
LOCATION: 1815 John F. Kennedy Boulevard
SIZE: 839,000 sf
LOCATION: Northwest corner of Broad Street and Washington
Avenue
SIZE: 450,000 sf
START DATE: 2014
START DATE: January 2017
STATUS: Announced
DESCRIPTION: This 19-story, mid-century modern tower has 550
apartments, 23,000 sf of retail space and 93,000 sf of office
space. Residential units will be totally gutted and refurbished.
A roof-top pool and sundeck will be renovated and a fitness
facility and three-season space will be created. The groundlevel retail space is being repositioned with new tenants, uses,
and storefronts.
DESCRIPTION: The now-vacant lot at the northwest corner of
Broad and Washington Streets will be developed into a
mixed-use project consisting of 356 apartments and 72,000
sf – 75,000 sf of retail with approximately 350 dedicated
parking spaces.
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43. THE SHIRT CORNER
DEVELOPER: Alterra Property Group
SIZE: 75,000 sf
START DATE: 2014
COMPLETION DATE: Fall 2015
STATUS: Completed
FlossBarber
44. AVENIR
Daniel Jackson
DESCRIPTION: Alterra Property Group assembled 10 properties
on the corner of North 3rd and Market Streets, where the
famous “Shirt Corner” was once located. The existing buildings
could not be saved because of structural degradation and thus
the entire site was demolished. Today there stands a four- to
five-story, 75,000-sf building comprising 59 apartments, a CVS
and Snap Kitchen on the ground floor, and parking in the rear
off Church Street.
DEVELOPER: Alterra Property Group and The Scully Company
SIZE: 150,000 sf
START DATE: Q2 2014
STATUS: Completed
DESCRIPTION: The project entailed the redevelopment of a historic
Class B office building into 180 Class A apartments and 7,500
sf of enhanced ground-floor retail. Forty-five of the units are
micro units under 350 sf.
45. AQ RITTENHOUSE
DEVELOPER: Aquinas Realty Partners
SIZE: 79,046 sf
START DATE: 2014
STATUS: Completed
Jeffrey Totaro
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DESCRIPTION: Aquinas Realty Partners purchased the vacant building from the Philadelphia Redevelopment Authority in 2012.
Designed by BLT Architects, the 12-story building replaced an
existing structure, which was demolished, with 110 apartment
units, 4,834 sf of ground-floor retail space, an interior courtyard, bicycle storage, and 9,600 sf of expansion space for the
Freire Charter School, a high school that occupies the building
next door. In summer 2015, the newly constructed property was
purchased for $51.1 million by LaSalle Investment Management,
a Chicago-based investment manager.
46. 1919 MARKET
DEVELOPER: Brandywine Realty Trust and LCOR
SIZE: 455,000 sf
START DATE: Q4 2014
DESCRIPTION: Designed by BartonPartners, this new mixed-use
tower will be 332 feet tall and include 321 upscale apartments,
215 parking spaces, 108 bike storage spaces, and 24,000 sf
of office and retail space. The 29-story tower on the corner of
Market and 20th Streets will contain retail on the ground floor
and offices on the second, as well as concierge service and
various amenities including a rooftop fitness center, demonstration kitchen, game room, and a ledge pool. Planned retail and
streetscape improvements, including new trees, benches, and
bike racks, will activate both Market and 20th Streets.
Brandywine Realty Trust
47. MELLON INDEPENDENCE CENTER (MIC) TOWER
SIZE: 377,321 sf
START DATE: TBD
STATUS: Announced
DESCRIPTION: The 399-foot, 377,321-sf mixed-use tower will be
designed by Stantec Architecture and will attach to the Lit
Brothers building on Market Street. It will be 35 stories, and
set back 180 feet from Market Street and 150 feet from 7th
and 8th Streets. The façade will primarily consist of white
and gray hues, so as not to distract from the Lits complex,
and the north-south orientation and setback will largely
protect the Market Street view. A new basement and lobby
will provide the residential component with an entrance. The
ground floor will feature new retail and the first five floors
above will be converted for office use.
Brickstone Realty
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48. 1112-1128 CHESTNUT STREET
SIZE: 192,000 sf
START DATE: Q4 2013
COMPLETION DATE: Spring/Summer 2016
Brickstone Realty
DESCRIPTION: The development will include 112 high-end rental units and 95,000 sf of commercial space, with dedicated parking for
retail. The developer also has acquired other key properties in the vicinity including: 1021 Chestnut, a 9,500-sf building it plans to
convert into coworking space; 106-14 South 11th Street, a 16,000-sf, mixed-use building with retail and residential units; 1108-1110
Chestnut, a 16,920-sf building that will include 8,000 sf of retail and office space on floors two through five; and a parking garage
at 12th and Sansom Streets to be converted into a large, mixed-use project in the future. Target will occupy 19,000 sf of space on
Chestnut Street, along with a 14,000-sf state liquor store.
49. BRIDGE
DEVELOPER: Brown Hill Development
LOCATION: 205 Race Street
SIZE: 169,900 sf
START DATE: August 2015
DESCRIPTION: Designed by GLUCK+ in New York, the mixed-use apartment
complex on the long-vacant corner of 2nd and Race Streets will include
146 rental units, 28 parking spaces, 100 bike parking spaces, and 14,000
sf of commercial space on the ground floor. The building will be 51 feet
tall along Race Street and rise to just over 187 feet along 2nd Street. The
building is on target to be the first LEED Gold residential high-rise in Center City. The apartments will be a mix of studios and one- and two-bedroom units. The developers plan to claim a bonus for mixed-income
housing, so some of the units will be affordable to individuals making
80% of Area Median Income.
Courtesy of GLUCK+
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50. RENAISSANCE PLAZA
DEVELOPER: Carl Marks & Co.
LOCATION: 400 North Columbus Boulevard
SIZE: 1,900,000 sf
RESIDENTIAL UNITS: 1,358
START DATE: 2016
STATUS: Announced
Alesker & Dundon Architects
DESCRIPTION: Carl Marks & Co. is developing a large residential project, Renaissance Plaza, on 5.3 acres that front the Delaware River
at Columbus Boulevard and Callowhill Street. Designed by Alesker & Dundon Architects, the dense project will include 1,342 rental
apartments in four multi-story buildings and 16 townhomes. Plans also include 69,710 sf of retail, 19,000 sf of office space, 600
parking spaces, and more than an acre of landscaped public space. The project will be built over four phases and seek LEED Gold
certification. The developer is committed to building Phase I and II, with other phases contingent on demand. The equity is in place
for Phase I and the developer is working on financing for Phases I and II. Parking for Phases I and II will be built during Phase I, with
Phase II construction starting once 50% of Phase I is complete. Construction should start in 2016, with Phase I taking 16 months.
51. SLS LUX PHILADELPHIA HOTEL & RESIDENCES
DEVELOPER: Dranoff Properties and SBE Entertainment Group
SIZE: 462,277 sf
HOTEL ROOMS: 152
STATUS: Announced
Dranoff Properties
DESCRIPTION: At 45 stories and 546 feet, the SLS LUX Philadelphia Hotel & Residences
will be the tallest tower in Pennsylvania built for residential use. Located across
South Broad Street from the Kimmel Center, the project will include 90 condominiums and the 152-room, boutique SLS LUX Hotel. There will be 160 resident-only
parking spaces, as well as ground-floor retail and the prominent corner of Broad and
Spruce will feature a three-story celebrity chef food and beverage operation. Amenities for both residents and guests include a full spa, fitness center, all-season, 75foot pool, and ballroom/meeting facilities. The building is designed by Kohn Pederson
Fox Associates and the hotel interior designer is Philippe Starck.
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52. THE HYDE
Dranoff Properties
DEVELOPER: Dranoff Properties and SBE Entertainment Group
SIZE: 179,870 sf
HOTEL ROOMS: 76
START DATE: Q1 2017
STATUS: Announced
DESCRIPTION: Dranoff Properties and SBE Entertainment Group announced another joint venture
to develop a residential/hospitality project just south of the SLS LUX development on South
Broad Street. Once complete, the 22-story, mixed-use tower will include a ground-floor
restaurant, an underground parking garage, 76 hotel rooms, 83 apartment units, and a
separate restaurant on the roof deck on the 23rd floor. The proposed tower will rise to 292feet, with floors 5 through 10 housing the hotel rooms and 11 through 22 containing a mix of
studio, 1- and 2-bedroom apartments. The slender tower will be designed by BLT Architects.
53. ROYAL THEATER
DEVELOPER: Dranoff Properties
and Universal Companies
LOCATION: 1524-1534 South Street
SIZE: 65,000 sf
STATUS: Announced
Dranoff Properties
DESCRIPTION: Plans call for the redevelopment of the historic Royal Theater into a mixed-use development with 52
high-end rental apartment units, 7,000 sf of retail space on the ground floor, and 20 below-grade parking spaces.
The Royal’s façade will be preserved and amenities will include a fitness center and roof deck.
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54. DIVINE LORRAINE
DEVELOPER: EB Realty Management Corporation
SIZE: 125,000 sf
WRT
DESCRIPTION: Purchased by Eric Blumenfeld’s EB Realty Management Corporation in 2012, the former hotel on North Broad
Street will be converted into a unique residential community that
will sit above a variety of restaurants and retail spaces totaling
21,000 sf. The luxury units are expected to rent for an average
$1,875 per month. Given the location of the project on top of the
Broad Street Line, no parking is planned for the development.
55. RODIN SQUARE
DEVELOPER: International Financial Company
and Dalian Development, LLC
LOCATION: 501 North 22nd Street
SIZE: 557,845 sf
START DATE: 2014
MV+A Architects
DESCRIPTION: The development will include 293 luxury apartment
units, 500 parking spaces and 85,000 sf of retail on the ground
floor. Retail tenants include Whole Foods (55,000 sf), CVS
(11,000 sf) and Thomas Jefferson University Hospital (12,000
sf). Designed by MV + A Architects, the development will include
more than 35,000 sf of residential amenity areas, including an
infinity edge swimming pool, club room, and fitness center.
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56. THE CURTIS CENTER
DEVELOPER: Keystone Property Group, Mack-Cali Realty Corp. and Roseland,
a Mack-Cali Company
SIZE: 885,000 sf
DESCRIPTION: The 885,000-sf Curtis Center will undergo a $25 million renovation that will transform the quiet stretch along Washington Square
Park into a vibrant urban corridor and add luxury residential units as
well as retail. Mack-Cali Realty Corporation and the Keystone Property
Group acquired the building for $125 million in the summer of 2014.
Plans include the conversion of 90,000 sf of vacant office space into 57
luxury apartments and outdoor streetscape improvements. Retail will be
added on the ground floor and will include famous New York restaurant
PJ Clarke’s on the corner of 6th and Walnut overlooking both Washington
Square and Independence National Historical Park. The building will
include a total of 50,000 sf of retail, 700,000 sf of office space and
100,000 sf of residential space.
Voith and Mactavish Architects
57. 9TH AND WASHINGTON
DEVELOPER: Midwood Investment & Development
LOCATION: 9th Street and Washington Avenue
SIZE: 126,500 sf
START DATE: 2017
STATUS: Announced
INVESTMENT: Approximately $50 Million
DESCRIPTION: Midwood Investment & Development plans to redevelop the parcel of land on the corner of
9th and Washington Streets in the Italian Market that includes a vacant lot and the current Anastasi’s
Seafood building. The five-story brick building will include 70 apartments and roughly 18,000 sf of
ground-floor retail. There will be two levels of underground parking with 150 parking spaces and an
entrance off 9th Street. Eight new trinity homes will be constructed on the eastern edge of the site
along Darien Street to maintain the context and scale of the area.
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58. EAST MARKET, PHASE I
DEVELOPER: National Real Estate Development
OWNER: National Real Estate Advisors, JOSS Realty
Partners, Young Capital and SSH Real Estate
LOCATION: City block between 11th and 12th Streets,
Market and Chestnut Streets
SIZE: 775,000 sf
BLT Architects
DESCRIPTION: East Market, a $500-million-plus, mixed-use project, aims to upgrade Philadelphia’s downtown retail district east of
Broad Street. The project will completely revamp the entire block between 11th and 12th, Market and Chestnut Streets, by creating and enhancing pedestrian-oriented retail both along Market Street and former alleys on Ludlow and Clover Streets. The
project will also add 322 new residential rental apartments, 161,000 sf of office space, parking, signage, and hospitality uses.
Phase I will include the construction of two new retail buildings with large format digital signage along Market Street with rental units above. The entire site will feature 175 below-grade parking spaces and a central loading facility. Also included in Phase
I is the redevelopment of 34 South 11th Street (the former Family Court Building) into modern Class A warehouse office space
above new, ground-floor retail. This building will house MOM’s Organic Market on the ground floor and the relocated Marketplace Design Center will occupy 48,000 sf of space above. Design Within Reach also plans to open a 15,000-sf-flagship. The
second phase will include demolishing and replacing the existing mixed-use building, located on the 1100 block of Chestnut
Street, with retail, residential, office, and parking uses. Once complete, the project will reopen Ludlow and Clover Streets, now
closed to pedestrian and vehicular traffic, and create a pedestrian walkway from Market Street to Chestnut Street, revitalizing
and expanding the Market East retail district, as well as connecting it to the vibrant Midtown Village retail district just south of
the project.
59. HANOVER NORTH BROAD
DEVELOPER: Parkway Corporation
and The Hanover Company
LOCATION: 322 and 339 North Broad Street
SIZE: 301,068 sf
START DATE: December 2015
Design Collective and The Hanover Company
DESCRIPTION: Parkway Corporation and The Hanover Company of Houston, Texas, are developing two lots on the southeast and
southwest corners of North Broad and Callowhill Streets. 322 North Broad Street on the west side will have 229 apartments
and feature an outdoor pool. 339 North Broad Street on the east side will have 110 units. The project will include over 14,000 sf
of retail and 341 parking spaces.
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60. 1700 CHESTNUT
61. THE BEACON
LOCATION: 1527-1533 Walnut Street
SIZE: 100,000 sf
SIZE: 111,000 sf
START DATE: 2014
START DATE: 2015
COMPLETION DATE: May 2017
STATUS: Completed
Pearl Properties
DAS Architects
DESCRIPTION: Pearl Properties redeveloped three buildings
(1700-1714) into a mixed-use development with a 40,000-sf
Nordstrom Rack on the lower three floors and 98 luxury rental
apartments above. Completed in late 2015, the building is
100% occupied.
DESCRIPTION: Pearl Properties is developing a mixed-use residential apartment project anchored by two retail spaces,
with a 10,000-sf Under Armour on the corner of 16th and
Walnut Streets. The 14-story building is designed to incorporate modern finishes of a newly constructed high-rise with
the architecture of the six-story corner masonry building.
The 98-unit-building will include a state-of-the-art fitness
center, fully furnished 1,500-sf roof deck with a view of
Rittenhouse Square, movie-screening room and club room
with catering kitchen, communal table, fireplace, televisions,
billiards and shuffleboard.
62. 19TH + CHESTNUT
SIZE: 412,224 sf
START DATE: 2015
Pearl Properties
DESCRIPTION: 19th+Chestnut will be a multi-family residential development located at 1910 Chestnut Street and 110 and 112 South
19th Street. With frontages on 19th Street, 20th Street, Chestnut Street and Sansom Street, the overall project site is 54,782 sf.
The proposed 32-story tower will include: 300 residential units on floors 3 through 32; amenities on the top floor; and underground
parking for 140 cars. Entry to the residential tower will be through a landscaped courtyard facing 19th Street. Retail is planned for
19th and Sansom Streets, as well as at the site of the former Boyd lobby on Chestnut Street and the adjacent Alexander building on
the corner of 19th and Chestnut Streets, which when renovated will be occupied by Target.
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63. THE LATHAM
SIZE: 125,000 sf
START DATE: November 2015
DESCRIPTION: Pearl Properties purchased the Latham
Hotel at the corner of 17th and Walnut Streets and is
converting it into 141 rental apartments. Capital One
Café will be the retail tenant on the lower two floors
of the building.
Pearl Properties
Designed by Jacobs, executed by Studio Agoos Lovera
64. EASTERN TOWER COMMUNITY CENTER
DEVELOPER: Philadelphia Chinatown Development Corporation
(PCDC) and JNA Capital, Inc.
SIZE: 195,000 sf
START DATE: Spring 2016
STATUS: Announced
DESCRIPTION: PCDC has helped form an immigrant investor Regional Center that will raise $33 million to fund its Eastern Tower
Community Center in Chinatown. The Regional Center is part
of the EB-5 program. Administered through the United States
Citizenship and Immigration Services (USCIS), the program is
designed to attract foreign investment in projects that promote
economic growth and job creation. The remainder of the funding
for the 23-story, mixed-use development consists of $23 million
in New Market Tax Credits and a loan commitment from Citibank, as well as a combination of private equity and grants. The
project will include 150 apartments, offices, and retail space, as
well as a recreation/event space for the community.
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65. 218 ARCH STREET
SIZE: 140,000 sf
STATUS: Announced
DESCRIPTION: PMC Property Group and Varenhorst will construct
a 10-story, mixed-use building on a surface parking lot near
2nd and Arch in Old City. The project sits on the historic
cobblestone lane, Little Boys Court, and will have 116 rental
units and ground-floor retail along Arch Street.
Varenhorst
66. ONE WATER STREET
LOCATION: 250 North Columbus Boulevard
SIZE: 272,178 sf
Varenhorst
DESCRIPTION: PMC Property Group is developing a 250-unit apartment building next to the Benjamin Franklin Bridge. The high-rise will
have a 13-story wing on the south side and a 16-story wing on the north side. The building will have approximately 65% one-bedroom units and 35% two- and three-bedroom units. The One Water Street grounds will include two public green spaces, designed
by landscape architect David Rubin at Land Collective, one of which will have the effect of a promenade along Columbus Boulevard.
Together, the two public spaces will total about 11,600 sf, or 20% of the site. Ten percent of the units will be reserved for lower-income residents. The project also includes a green roof, 73 parking spaces, car-share spots, a bicycle storage room, gym, and
meeting space for building residents. The project will include 5,000-sf of ground-floor retail due to the growing pedestrian presence
on Columbus Boulevard.
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67. ONE FRANKLIN TOWER
PMC Property Group
DEVELOPER: PMC Property Group and Lubert-Adler
SIZE: 607,471 sf
STATUS: Announced
DESCRIPTION: In partnership with Lubert-Adler Real Estate Fund, PMC Property Group
has purchased One Franklin Plaza, the former North American headquarters for
GlaxoSmithKline, with plans to redevelop the property, which has been renamed One
Franklin Tower. The 24-story, 607,471-sf building, originally built in 1980, will be fully
converted to a premier mixed-use property consisting of first-class office space and
luxury apartments. The property’s office component will feature floor-to-ceiling glass
windows with natural light, eight corner offices, and its own dedicated contemporary
elevator lobby. The apartments will offer generously-sized floor plans, luxury finishes,
and a full complement of modern amenities. The property shares a two-level parking
garage with 450 spaces with the Sheraton Convention Hotel.
68. 2400 MARKET STREET
Varenhorst
DEVELOPER: PMC Property Group and Lubert-Adler
SIZE: 950,000 sf
DESCRIPTION: A partnership consisting of PMC Property
Group and Lubert-Adler purchased Marketplace
Design Center for $42 million in April 2014. The
property consists of two buildings, 2400 Market Street
with 370,000 sf, and 12 South 23rd Street, a six-story,
120,000-sf structure. The project is ideally positioned across from University City and 30th Street Station, and
close to Rittenhouse Square and the Central Business District. Once complete the project will help connect
Center City and University City along Market Street, leveraging public investments made along the Market
Street Bridge above and Schuylkill Banks. Plans call for the creation of a mixed-use complex by adding a
residential tower on top of the building, as well as the creation of retail and creative-class office space below
it. New retail space, totaling 65,000 sf, will be created for a grocery store, restaurant, and coffee shop.
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70. THE ROOSEVELT APARTMENTS
DEVELOPER: Post Brothers
LOCATION: 2216-2222 Walnut Street
SIZE: 64,628 sf
START DATE: 2015
Rafael Viñoly Associates
69. 1401 SPRUCE STREET
Post Brothers
DEVELOPER: Post Brothers
DESCRIPTION: The two-building complex was purchased by an undisclosed investor who was represented in the transaction by Post
Brothers for $15.7 million. The property is a mixed-use building
with 97 units and 6,000 sf of retail. The building will remain operational as it undergoes a $20-million renovation.
LOCATION: 1401 Spruce Street
SIZE: 263,000 sf
START DATE: 2014
COMPLETION DATE: Early 2017
DESCRIPTION: The former headquarters of the Atlantic Richfield
Oil Company is being converted into 160 rental units and 40
condos and 13,000 sf of retail. The 21-story building will include
a resident’s lounge, wine lockers, catering kitchen, billiard
room, commercial quality fitness center, spa, business center,
and a rooftop event space. Private, deeded valet parking will be
provided. The building’s residential entrance will face Spruce
Street, while the retail component will be accessed via the current Broad Street entrance. The project is designed by Rafael
Viñoly Architects.
71. TRANSATLANTIC
DEVELOPER: PRDC Properties
LOCATION: 420-422 Fairmount Avenue
START DATE: 2015
ISA - Interface Studio Architects
38
DESCRIPTION: Located at the intersection of 5th Street and Fairmount Avenue, PRDC
Properties is developing a total of 66 new residential units. The project will result in
41 new apartment units and 25 single-family units, including the redevelopment of
the former Trans-Atlantic Building. Five single-family units along North 5th Street
have already been completed.
72. FRANCIS HOUSE OF PEACE
DEVELOPER: Project HOME and Philadelphia Chinatown
Development Corporation (PCDC)
SIZE: 79,096 sf
COMPLETION DATE: November 2015
STATUS: Completed
DESCRIPTION: Sister Mary Scullion’s Project HOME and the PCDC completed a nine-story affordable-housing project
in Chinatown in November 2015. The complex provides 94 efficiency apartments for lower-income rental tenants
ranging in age from seniors to children aging out of foster care. Designed by Kramer + Marks, the building offers an
underground rainwater collection system to manage runoff. For units with project-based vouchers through the Philadelphia Housing Authority, tenants pay 30% of income. An additional 57 units are affordable to those at or below 50%
of income, and 15 units are affordable to those at or below 20%. Rents are between $690 and $799 per month.
73. 1601 VINE STREET
DEVELOPER: Property Reserve, Inc.
SIZE: 513,997 sf
START DATE: Late 2014
INVESTMENT: $120 million (media estimates)
Robert A.M. Stern Architects
DESCRIPTION: The mixed-use development includes a residential apartment tower and retail space located at 1601
Vine Street. The residential tower is 32 stories and will consist of 264 rental apartments, 13 rental townhomes,
two levels of below-grade parking providing 238 spaces and 12,000 sf of ground-floor retail. Residential amenities include a swimming pool, fitness center, club room and business center. Robert A.M. Stern Architects of New
York is the project designer, with BLT Architects of Philadelphia serving as associate architect.
39
74. 1300 FAIRMOUNT
DEVELOPER: RAL Development Services, LLC
LOCATION: 1300 Fairmount Avenue
SIZE: 783,760 sf
STATUS: Announced
INVESTMENT: Approximately $200 Million
DESCRIPTION: New York City-based RAL Development
Services, LLC is developing an assemblage of
vacant lots at 13th Street and Fairmount Avenue
adjacent to the Divine Lorraine Hotel. The project
includes a retail and structured-parking podium
supporting a residential rental apartment building
with up to 486 apartments. The parking will support both the retail and residential components.
Additionally the project includes an enhanced
public streetscape with an approximately 6,000-sf
public plaza with fixed seating, landscaping and
bicycle parking. RAL is seeking a $15 million grant
from the Redevelopment Assistance Capital Program (RACP).
Cope Linder Architects/RAL Development Services, LLC
75. 1911 WALNUT STREET
DEVELOPER: Southern Land Company
SIZE: 550,000 sf
RESIDENTIAL UNITS: 406–417
START DATE: TBD
STATUS: Announced
SCB Architecture
DESCRIPTION: Southern Land Company will develop the empty parcel at 1911 Walnut Street across from Rittenhouse Square. The developer has applied for rezoning of the property to allow for denser development
that would include 342 apartments, 64 to 75 condos and 55,000 sf of retail that would wrap around Walnut,
Sansom and 20th Streets. The mixed-use tower, which will include underground parking, will stand between
47 and 51 stories, with the first three dedicated to retail. The project is currently going through the approval
process and plans could change to accommodate community input. The building will be designed by Chicago
firm Solomon Cordwell Buenz. Southern Land Company is developing 1911 Walnut in a joint venture with an
undisclosed domestic institutional investor.
40
77. 1213 WALNUT
DEVELOPER: The Goldenberg Group
and Hines
SIZE: 300,000 sf
START DATE: November 2015
BartonPartners
76. THE NATIONAL
DEVELOPER: The Patriot Group
Dec. 4, 2015
Goldenberg Group
LOCATION: 115 North 2nd Street
SIZE: 204,235 sf
DESCRIPTION: The Goldenberg Group and Hines are developing a
26-story, multi-family high-rise at 12th and Walnut Streets,
formerly a surface parking lot. The project broke ground in
November 2015 and will include 322 rental units and 7,300 sf
of retail.
STATUS: Announced
DESCRIPTION: The former National Products building will be
redeveloped into a 192-unit apartment building with 3,000 sf
of ground floor retail and underground parking. The iconic
façade will be dismantled and rebuilt.
78. 2400 SOUTH
DEVELOPER: Toll Brothers
LOCATION: 2400 South Street
SIZE: 235,583 sf
START DATE: 2012
STATUS: Completed
DESCRIPTION: The project consists of 68 townhouses and 59 condos, as
well as 2,266 sf of retail along 24th Street. The development is near
the Toll Brothers’ first Graduate Hospital area project, Naval Square.
41
79. 1001 SOUTH BROAD
DEVELOPER: Tower Investments
LOCATION: 1001 South Broad Street
SIZE: 1,800,000 sf
RESIDENTIAL UNITS: 950–1,000
START DATE: TBD
STATUS: Announced
INVESTMENT: $150 Million (media estimates)
DESCRIPTION: Tower Investments plans to build a large, mixed-use complex on the now vacant lot at the northeast corner of Washington
Avenue and Broad Street, viewed as the “gateway” intersection between South Philadelphia and Center City. The gross building area
will be approximately 1,800,000 sf (including normally exempt retail and loading areas) and will include a total of 950-1,000 units,
25,000 sf of multi-tenant office space, 143,000 sf of retail and 625 parking spaces. The residential component will include a 34-story,
800-unit residential tower, a smaller four-story residential building with approximately 60 units and 100–120 walk-up units that are
part of an internalized outdoor public space to include 66,000 sf of small scale retail. The project will create a fully mixed-use, “live,
work, play” environment for the neighborhood, as well as give residents access to an array of common-area amenities.
80. 900-934 CALLOWHILL
DEVELOPER: Wing Lee Investment, L.P.
LOCATION: 900-934 Callowhill Street
SIZE: 173,913 sf
STATUS: Announced
DESCRIPTION: Designed by T.C. Lei Architect & Associates, the proposed project will sit on a rectangular parcel of what is now a mix of
warehouses and industrial space, a lumberyard and vacant lots at 900–934 Callowhill Street. The area is bounded by Carlton Street,
North 9th Street, Callowhill Street and Ridge Avenue. Existing structures will be razed. The design features four independent buildings: two seven-story apartment towers and two five-story buildings with apartments above and a total of 12 new commercial spaces
fronting Callowhill Street on the first floor. All residential units will be market-rate, two-bedroom rentals of about 880 sf. An open-air
cruciform courtyard and central elevator/stairwell tower will complete the interior of the site, which is being designed with an estimated $20 million total budget. The development will include approximately 14,000 sf of commercial space and more than 135,000 sf
dedicated to residential use.
42
RETAIL
81. 1428 WALNUT
DEVELOPER: Midwood Investment & Development
SIZE: 60,000 sf
START DATE: Q4 2013
STATUS: Completed
DESCRIPTION: Capitalizing on rising rents in Philadelphia’s prime retail district, Midwood Investment & Development constructed a modern,
glass retail structure designed by Bohlin
Cywinski Jackson at 15th and Walnut Streets. It
houses the Cheesecake Factory on the second
floor and Verizon Innovation on the ground floor,
along with other yet-to-be-announced tenants.
82. FASHION OUTLETS OF PHILADELPHIA
AT MARKET EAST
DEVELOPER: PREIT & Macerich
LOCATION: Northern blocks of Market Street between
8th and 11th Streets
SIZE: 1,500,000 sf
START DATE: 2015
PREIT
DESCRIPTION: In July 2014, it was announced that the California-based retail developer Macerich acquired a 50% interest in The Gallery in return for investing in redeveloping the mall. PREIT and Macerich are now repositioning The Gallery to become a destination
for shopping, dining, and entertainment in Philadelphia, by incorporating first-to-market fashion retailers and artisanal food and
restaurant offerings. The first anchor tenant is Century 21, which opened a 100,000-sf store in October 2014 in the former Strawbridge’s building. The plan will create an open, well-lit, and easily accessible three-block corridor of approximately 125 new stores,
including dining and entertainment options. The top-to-bottom redesign will reconfigure the mixed-use facility as a bright, new
contemporary space that reconnects to Market Street with accessible storefronts, sidewalk cafés, a new streetscape, digital signage
and graphics. The highlight of the newly-reimagined space will be a new glass-walled Center Court at 9th and Market Streets that
will welcome tourists, office workers, conventioneers, and residents alike.
43
ACKNOWLEDGMENTS
INFORMATION PARTNERS
June 5th Memorial Park Committee –
Nancy Goldenberg
Aimco –
Stephanie Bristow, Cindy Duffy
Alliance Partners HSP –
Matt Handel
Alterra Property Group –
Leo Addimando
Greystar –
Tracy Keyser
Baywood Hotels –
Kurt Blorstad
Brandywine Realty Trust –
Paul Commito, Regina Sitler
Brickstone Realty –
Mark Merlini
GLUCK+ –
Bethia Liu
Schiffman Consulting Corp. –
Martin Schiffman
Gibbs Management –
Andrew Gibbs
Children’s Hospital of Philadelphia –
Jonathan J. Hood
Church of Jesus Christ of the Latter-day Saints –
Corinne Dougherty
City of Philadelphia –
Stephanie K. Craighead
DAS Architecture –
Annette Walsh
Delaware River Waterfront Corporation –
Karen Thompson, AICP
Dranoff Properties –
Erika Bohl
Drexel University –
Nancy Trainer
EB Realty Management Corporation –
Chris Cordaro
P&A Associates –
Robert Shaw
Dranoff Properties
Philadelphia Chinatown Development
Corporation – Sarah Yeung
Philadelphia Museum of Art –
Shen Shellenberger
Philadelphia Parking Authority –
Richard Dickson, Lorraine Baker
PMC Property Group –
Jonathan Stavin, Kate Groshong
Post Brothers –
Matthew Pestronk
Drexel University Communications
FFKR Architects
FlossBarber
The Free Library of Philadelphia
Gensler
GLUCK+
Goldenberg Group
Granum Associates
Greystar
ISA - Interface Studio Architects LLC –
Alexandra Gauzza, LEED AP BD+C
PREIT –
Haley Samsi
Hargreaves Associates and Redsquare
ISA - Interface Studio Architects
JKRP Architects
Priderock Capital Partners, LLC –
Chris Todd
Project HOME –
Matthew McCarter
KieranTimberlake
Kramer + Marks Architects
Moustafa Moustafa
Risa Heller Communications –
James Yolles
Realen –
Dennis Maloomian
MV+A Architects
NC3D for Robert A.M. Stern Architects
Pearl Properties
Perkins Eastman Architects
Southern Land Company – Dustin Downey,
Andy Ecton, Matt Magallanes
BartonPartners –
Mary E. McClenaghan, AIA, NCARB
The Free Library of Philadelphia –
Alix Gerz
The Goldenberg Group –
Todd Malligan, Adam Rosenzweig
Toll Brothers –
Brian Emmons
Philadelphia Museum of Art
PMC Property Group
Post Brothers
PREIT
Rafael Vinoly Associates
RAL
Realen
Robert A.M. Stern Architects
Scannapieco Development Corporation
T.C. Lei & Associates, P.C. –
Michelle Kleschick, NCIDQ
SCB Architecture
Scott Aker, AIA
PHOTOGRAPHY & RENDERINGS
spg3 architects
(c) 2016 Curio
Stantec
Forest City Residential Group –
Robert D. Lane, Jr.
Aimco
Varenhorst
Cashman & Associates –
Michelle Conron, Laura Krebs Miller
Alesker & Dundon Architects
Voith and Mactavish Architects
Alliance Partners HSP, LLC
WRT
International Financial Company –
Odara Jabali-Jeter
Ballinger and Pelli Clark Pelli Architects
BartonPartners
CCD STAFF
Keystone Property Group –
Jennifer Cooperman
BLT Architects
Midwood Investment & Development –
Michelle Goldman
Brickstone Realty
Research & Writing:
Casandra Dominguez, Manager of Business
Retention & Retail Attraction
Brandywine Realty Trust
Writing & Editing:
Linda Harris, Director of Communications &
Publications; Nancy Goldenberg, Vice President
of Planning & Development
Museum of the American Revolution –
ZeeAnn Mason
Comcast Corporation
National Real Estate Development –
Charles Norman
Daniel Jackson
JKRP Architects –
Mike Izzo
Parkway Corporation –
Salvatore Farruggia, Robert Zuritsky
Pearl Properties –
James Pearlstein
44
Cope Linder
Graphic Design: Michael Choi, Graphic Designer;
Amy Yenchik, Creative Director
DAS Architects
Design Collective and The Hanover Company
UPDATES/ERRATA
Designed by Jacobs, executed by Studio Agoos
Lovera
www.CenterCityPhila.org/Developments

developments - Center City District

Transcription

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