Groundbreaking: Dranoff’s Luxurious One Riverside Sets the Date

One Riverside | Courtesy: Dranoff Properties

One Riverside | Courtesy: Dranoff Properties

Carl Dranoff is a busy man. We know all about his SLS International Hotel & Residences project at Broad and Spruce. However, let’s not forget about One Riverside, his other luxury condo high rise right on the edge of Schuylkill River Park. If the design by Cecil Baker doesn’t grab you, the tagline certainly will: “The River. The Park. The Ultimate.” And if that doesn’t work, check out the video.

The official groundbreaking for the 22-story project will be on Wednesday, May 13 at 5:30 p.m. The building will house 82 condos, 15 of which have already been sold, according Erika Bohl, marketing manager at Dranoff Properties. Earlier reports indicated that priced would range from $685,00o on the lower end and all the way up to $6 million for the bi-level penthouse. The building at 25th and Locust has seen over $25 million in sales, noted Bohl in an email.

The first units are expected to be completed Read more »

Second Life: East Market Looks to Bring Hip Office Hub to Midtown Village

The new look building at 34 South 11th Street | Courtesy: SSH Real Estate

The new look building at 34 South 11th Street | Courtesy: SSH Real Estate

While much of the talk around the East Market mega-project as been about the digital signage, the renderings and the demolition, there is actually one component that has flown a little under the radar–the redevelopment of the former Family Court building at 34 South 11th Street.

The building will get a fancy new facade treatment from Morris Adjmi, but let’s check out what’s going to be under the hood, so to speak. The city’s first MOM’s Organic Market will be topped by 160,000 square-feet of creative office space aimed at developing Midtown Village/Market East into a vibrant live, work and play neighborhood–possibly even into the city’s tech hub. “It’s the type of space you normally can’t find two blocks from City Hall,” said Peter Soens, partner at SSH Real Estate. The firm is in charge of leasing at the building and part owner of the East Market project along with by National Real Estate Advisors, JOSS Realty Partners LLC and Young Capital LLC.

Usually, the cool-kid warehouse office space scene is reserved for the smaller boutique setups or the outskirts of the Center City in converted industrial buildings. Read more »

Headlines: Near Tragic Accident Caused by Crumbling 25th Street Viaduct

The 25th Street Viaduct, as planned by 2020 | Rendering: CSX

The 25th Street Viaduct, as planned by 2020 | Rendering: CSX

Do you see that rendering?  That’s what the 25th Street Viaduct in South Philadelphia is supposed to look like once the planned renovation project by the city and owners CSX is complete in five years. It’s pristine, as far as utilitarian concrete structures go. Today, however, is a much different, and nearly tragic, story.

Officials deemed the bridge “structurally sound” just a few weeks ago during the announcement of the renovations. NBC10 reports that a large chunk of concrete fell from the bridge near the intersection of 25th and Dickinson on Friday night in Point Breeze. It landed on the passenger side window of a BMW sedan. The driver narrowly escaped a tragic scene and was “shaken” but not injured.

Phase one, which is supposed to start in June, includes wrapping the bridge in safety netting. After the incident on Friday, Councilman Kenyatta Johnson wants to get it going ASAP:

“The incident today shows we should start immediately cause it’s important,” Johnson said. “We don’t want to risk somebody else riding under this bridge and a catastrophe happening.”

A clogged drainage system is being labeled as the cause of the incident. For video at the scene, hit up that link from NBC10 below.

Read more »

Headlines: Wanamaker Building Could Fetch Upwards of $200 Million in Sale

Macy’s Christmas Light Show

Plenty of Philadelphia office buildings have been sold in the past year (the one that houses PhillyMag just sold for big bucks), but none are decidedly as grand as the Wanamaker Building. Natalie Kostelni of the Philadelphia Business Journal reports that the it has been put up for sale by the partnership of Amerimar Enterprises Inc. of Philadelphia and Tier REIT out of Dallas. The building, which encompasses 1.9 million square-feet including the parking garage, is expected to grab upwards of $200 million once sold.

The Wanamaker Building is a Philadelphia icon, Read more »

Coming to a (Boyd) Theater Near You: Apartments, Retail, or a Restaurant!

A photo posted by Leah Coonan (@leahcreation) on


Since having demolition start on its auditorium last month, we bet some of you have been wondering just what the heck is going to go down with the Boyd Theatre. Well, for those who’ve been keeping up on Property and had your fingers crossed for a proposed brand new multiplex by iPic, those plans for the Boyd (which were very enticing, admittedly) have been scrapped a while ago. Here’s what the Inquirer’ Matt Gelb writes will happen instead:

[…] a restaurant or retail store will instead occupy the expansive lobby built in 1928. Above it, 238 apartments in a 27-story tower will overlook a neglected block of Chestnut Street.

These plans were set in motion last week by an approved building permit for a litany of properties at 19th and Chestnut.

Gasp!?

Nah, I mean this was kind of expected if you had noticed that developer Pearl Properties had pretty much acquired the “entire stretch from the Boyd east to the corner at 1900 Chestnut Street” before buying the Boyd itself for $4.5 million in October–essentially securing, in other words, a larger footprint for a residential tower they had long ago proposed for the corner of 19th and Chestnut. The development is now “subject to review,” but does not require zoning variances, which means it could be up for a quick approval. The permit states the tower is not to exceed 315 feet in height and plans to contain 66 parking spaces, 99 bike parking spots and three loading docks. It will be a mix of retail, office and residential space.

As for the Boyd?

Headlines: Wynnewood’s Historic William Penn Inn Saved

Do you remember feeling a stiff breeze on the night of April 15 around the area of Wynnewood? It wasn’t due to a tornado watch, it was the collective sigh of relief from those preservation advocates trying to save the historic William Penn Inn on East Lancaster Avenue in Lower Merion Township.

Built in 1799 by Joseph Price, the inn was set to be demolished in favor for a denser residential development by Rayer Builders. The Main Line Times reports the unanimous vote last Thursday granted “conditional use relief and approve a preliminary plan of land development for the property.” The inn will be restored and house condominiums and three new single-family homes will be built on the site.

As part of conditional use approval, the inn’s developer, William Penn Inn Partners, will place a permanent conservation covenant on the structure. Previously listed as a Class 2 historic resource, it was subject to demolition after a maximum 90-day delay.

 

 Roar, Little Lion, Roar! Read more »

Urban Outfitters’ ‘Lifestyle Village’ in Devon Could Take First Step Forward

An artist's rendering of preliminary plans for Urban Outfitters' $100 million Devon Yard complex, as viewed from the northeast. (Image courtesy of Urban Outfitters)

From 2013: An artist’s rendering of preliminary plans for Urban Outfitters’ $100 million Devon Yard complex, as viewed from the northeast. (Image courtesy of Urban Outfitters)

It looks like a big-time project in the ‘burbs will soon be awakened from its slumber. Developers Waterloo Devon L.P. (an Eli Kahn company), along with Urban Outfitters (URBN) and Anthropologie, will head before the Easttown Township Planning Commission to seek a recommendation for an amendment to the zoning code that would ultimately allow the Devon Yard project to move forward under a special Overlay District on the site at Lancaster Avenue and Devon Boulevard. The public meeting will be held on April 27 at 7 p.m. at the Hilltop House, 570 Beaumont Road, Devon.

Back in 2013, the development team announced a lifestyle village what would include retail, another garden center, multiple restaurants and a boutique hotel called the Devon Inn, the “driver” of the community. Until recently, those plans haven’t really gone anywhere, but they have appeared to have changed a bit. Read more »

Massive Compound in Queen Village Gets Major Price Chop

Photo via TREND courtesy Plumer & Inc.

Photo via TREND courtesy Plumer & Association/Redfin.

Queen Village is a classic Philadelphia neighborhood with a wide range of houses found on streets of many sizes. On one hand, you have the cramped and quirky Trinity, a style near and dear to our hearts. On the other, you have million-dollar rowhomes that offer a unique blend of old world flare and modern sophistication. 113-21 Bainbridge Street is on a whole different level.

Comprised of five parcels, the home is more of a private compound and actually $200,000 cheaper than when we featured in back in May. We’d forgive if you thought it was an apartment or condo building–it’s just that big.  The listing remarks that the home is “imposing” from the street and anyone who has ever walked by certainly knows the address carries a sense of intrigue.  Read more »

Legendary Status: The Wall Street Journal Spotlights 500 Walnut’s Penthouse

This is the terrace on the penthouse. | Rendering via 500 Walnut

This is the terrace on the penthouse. | Rendering via 500 Walnut

Forget the fact that it’s not even close to being built yet, we just can’t get enough of the legend that is becoming the penthouse at 500 Walnut.  The Wall Street Journal just did a feature on the space, unveiling some interesting tidbits of information out of developer Tom Scannapieco and his team. (They also name-checked Jay Z, Beyoncé and Philadelphia magazine–just sayin’.) It’s part of a larger piece that will run in the paper edition on Friday, a feature that will apparently show previously unreleased renderings of the penthouse.

Here’s what we know so far: Read more »

First Look at Renderings of New Flagship Center City Wawa

Wawa - Broad and Walnut rendering

A rendering of the new Wawa and Broad and Walnut.

Mayor Michael Nutter unveiled the first renderings of the new Wawa location at Broad and Walnut today. The new location, according to Wawa president and CEO Chris Gheysens, will have “a look that is unlike any store that we have.” The spot will have indoor seating, unique among Wawa locations currently. Read more »

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