Happy New Year! The ESI team is excited to be back offering insight and resources through our blog, Present Value.
For the first post of 2017, we decided take a closer look at some of the newest developments with anticipated completion dates in 2017. These projects will take Philadelphia to new heights, offer luxurious amenities, and push the city’s growing neighborhoods upward while implementing the highest level of building standards.
We hope you enjoy this read, and look forward to upcoming posts. 2017 will be an exciting year, so stay tuned! If you have an idea for a story, or would like to guest write for ESI’s Present Value please contact us by email. We are always thrilled to hear from our readers!
Cambria Hotel & Suites
Designed by DAS Architects and Pearl Properties, the Cambria Hotel & Suites will offer 220 hotel rooms and tower over the northeast corner of Broad and Locust streets.
Accompanied by a two story lobby and lounge, Cambria Hotel & Suites will also feature ground floor restaurant, 2,500 square foot pool area, 2,000 square foot fitness center, and roof top lounge.
Click here to learn more about Cambria Hotel & Suites
Also designed by DAS Architects, and developed by Pearl Properties, the Beacon, that Inga Saffron once called “a center city tower that gets it right“, will be a 14 story, mixed-use retail and residential complex with 94,000 square feet. Located at 16th and Walnut Streets, the projects plans include 98 apartments, a fitness center, a 1,500 square foot roof deck, movie room, catering kitchen, and game room for residents to utilize.
Under Armour recently opened a brand new storefront on the ground floor.
Click here to learn more about The Beacon.
Designed by Cecil Baker and developed by Tom Scannapieco, 500 Walnut will soar 26 stories into the air and offer luxurious residences with breathtaking views overlooking the World Heritage Site, Independence Hall. Residents will have access to a 50 foot lap pool, fitness center and spa, billiard room, robotic parking, and 4000 square foot open-air terrace.
38 condos will be available in total, but act fast, as the penthouse already sold in May for a record-breaking $17.85 million.
Click here to learn more about 500 Walnut.
Developed by Brownstreet Development and designed by Gluck+, Bridge is aiming to be Philadelphia’s first LEED Gold Certified luxury apartment building, offering 146 units.
Bridge will reach 51 feet high on Race Street and 187 feet tall on 2nd Street and include a 8,000 square foot green roof, along with a gym, 28 parking spaces and storage space for 100 bicycles.
To further Bridge’s commitment to LEED standards, the building will have a modern and efficient heating and cooling system allowing some units to run heat while others run air conditioning concurrently. This process actually uses the heat that’s expelled by air conditioners to run the heater, and vice versa. So it’s great for residents, who want to turn on the heat early in the year without waiting for the whole building’s heat to switch on. It’s also great for the environment, because Bridge will use less energy overall.
Click here to learn more about Bridge.
Developed by Hines International and the Goldenberg Group, 1213 Walnut located in Midtown Village, will tower 26 stories and include 322 luxury rental units and feature more than 7,200 square feet of retail space on Walnut and Sansom Streets.
1213, known around town as the “Fergie Tower“, will provide residents with over 11,000 square feet of resident community space, including a stunning great room, outdoor terrace lounge overlooking Walnut Street, gaming area, entertainment kitchen, private conference area and luxurious “quiet room”. Other features include a 3,000+ square foot indoor/outdoor fitness center with exercise studio and fitness and yoga terrace, rooftop deck, an elevated private dog park, and bicycle storage.
1213 aims to be LEED Silver certified, incorporating a variety of sustainable features such as the use of green building materials, energy-efficient lighting and plumbing fixtures, state-of-the-art building systems, and a green roof.
Click here to learn more about 1213 Walnut.
The Roberts Center for Pediatric Research
Ballinger, in partnership with Pelli Clarke Pelli Architects and Cooper, Robertson & Partners, have designed the first building to kick-off CHOP’s new Schuylkill Avenue campus.
The 21-story tower will be dedicated to desk-based research and administrative offices, the tower will further CHOP’s mission of groundbreaking research and discovery. In addition to the research tower, the project includes parking, an outdoor plaza with green spaces, and a bridge which will connect the complex to the Schuylkill River Trail.
As CHOP grows, three additional buildings, smaller in size will be added over the next 20 years in an effort to accommodate employees currently working in various locations around the city.
Click here to learn more about the Roberts Center for Pediatric Research.
Hanover North Broad
The Hanover Company, along with the Parkway Corporation have teamed up for this two, six-story apartment project. Both developments will be similar in design, but vary in size. The larger of the two will sit on the southwest corner of Broad and Callowhill and feature 229 units, as well as 17,000 square feet of retail space. The second building, sitting on the southeast corner, will have 110 units, 6,000 feet of retail space, and parking space for both cars and bicycles.
Each site will offer luxury amenities featuring an outdoor courtyard with dining and grilling stations, HDTV lounge, and billiards.
Click here to learn more about Hanover North Broad.
Radnor Property Group is behind Vue 32, the $56 million, 175,000 square foot mixed-use development located in the heart of University City on Drexel University’s campus. The 16 story tower will include a 180 person early learning childcare center on the lower two floors and 164 market rate apartment units catering to the “Eds & Meds” market in University City.
Vue 32 will include a community plaza and garden, underground parking, fitness center, game room, library, communal gourmet kitchen and a rooftop deck with a gas fire pit.
Click here to learn more about Vue 32.
East Market Phase 1
National Real Estate Development and Bower Lewis Thrower Architects is behind the mixed-use development project called East Market. The tower will include 322 units in addition to 175,000 square feet of office space, and 130,000 square feet of retail space.
Office space features will include large open floor plans, high ceilings, full height windows aimed at attracting innovative companies.
Click here to learn more about East Market.
The Alexander, a 277 unit 32 story mixed-use building being built by Property Reserve Inc., will find itself situated in the geographic heart of the city surrounded by office, healthcare, education and residential populations. The building will conveniently offer regional access from I-76, I-95, I-676, the Parkway and Broad Street as well as convenient mass transit access from Suburban Station and the Broad Street Line. 11,800 square feet of the property will be designated for retail space.
Click here to learn more about The Alexander.
The Divine Lorraine
While the Divine Lorraine is not a new addition to Philadelphia’s ever-changing skyline, 2017 marks a historic moment for the iconic 10-story structure, and at ESI we’re proud to be part of this extraordinary story. Completed in 1893, and designed by architect Willis G. Hale, the Lorraine Apartments was one of the first luxury apartment complexes in Philadelphia. The structure later became the Lorraine Hotel in 1900 and operated as such until 1948 when Father Divine, leader and head of the Divine Peace Mission Movement acquired the site, making The Divine Lorraine Hotel the first racially integrated hotel in Philadelphia.
In 1999, the Divine Lorraine Hotel closed its doors and became a symbol of urban blight. Today, after a $44 million renovation, the building adds a new chapter to its story, offering 121 apartments, 20,000 square feet of restaurant and retail space, fitness center, and lounge.
Click here to learn more about the Divine Lorraine and its historical turn around.
Mike Daly is a Marketing Associate at Econsult Solutions, Inc (ESI). Mr. Daly is responsible for enhancing ESI’s brand and work through traditional and social media marketing, content development for the web, and managing the ESI Blog.