Morning Headlines: New Waterfront Development Approved

Renaissance Plaza rendering via PlanPhilly.

The Planning Commission gave approval yesterday for Renaissance Plaza, a four-tower development with plans calling for 1,350 rentals, two public gyms, restaurants and retail. PlanPhilly reports that the development company, Waterfront Renaissance Associates, an affiliate of Carl Marks Real Estate, “hopes to start construction of the first, 292-foot tower in about a year.” The Plaza will be at Callowhill and Columbus Blvd. and will have enclosed parking at least during the first phase.

Environmental concerns and public interaction will both make an appearance. In addition to the four towers seeking LEED Gold certification, the property…

will contain about an acre of public green space that [project lawyer Hercules] Grigos said could be used for farmers markets or other events. A public walk will run from Front Street through the development and the green space, and Grigos said with PennDOT and city approval, the developer will pay for a signalized crossing so people can more easily walk from Front Street across Columbus Boulevard to the waterfront.

Grigos is also, it seems, the master of understatement, saying “the waterfront has been underdeveloped.”

Other headlines:

• According to the Inquirer’s PhillyDeals, Home Depot is enjoying a profitable quarter thanks to Philly’s “house-flippers and real estate investor-customers.”

• Following an operational analysis, Drexel University has closed its Liberty Place health center, reports the Philadelphia Business Journal.

• Bad news for It’s Always Sunny fans. The Insider says Pearl Properties has bought the Chestnut Street property that was on the short list to become the second Mac’s Tavern.

• NakedPhilly updates us on some Logan Square projects and gives us a teasing glimpse of Ned Kahn’s shimmer wall.

•  The Post Brothers are unsure of what they want to do with their new Broad Street building, reports the Business Journal’s Natalie Kostelni.