As we close the book on 2016, let’s take a look back at the year in real estate and development. What were the stories that got people’s attention this year? Here are our picks:
Toll Brothers goes tall on Jewelers Row and sets off a preservation fight.
A few years ago, Toll Brothers, the Horsham-based luxury home builder, decided to enter the urban development game with its City Living division. Urbanist critics loved to fault the builder’s Philadelphia projects for their notable lack of urban features like density and mixed uses. So when the company announced it wanted to build an apartment tower with street-level retail in Philadelphia, everyone cheered, right? Wrong, because the tower would replace three buildings on historic Jewelers Row. The fight to preserve the buildings pitted the preservation community against just about all of the property owners on the 700 block of Sansom Street, who see the apartment tower as giving their businesses a shot in the arm from a ready-made customer base. (Or so it appeared from the testimony delivered to the Philadelphia Historical Commission in September, when it opted to punt on the issue of preserving the endangered buildings. The Jewelers Row merchants who appeared at this month’s Washington Square West Civic Association Zoning Committee meeting sang a different tune altogether.) Toll can build this project by right under the lot’s zoning, but Toll has indicated it wants to work with the community to shape a project everyone could live with. Right now, it looks like that project has yet to emerge. Read more »