Philadelphia’s New Boom

The city is changing dramatically, with new buildings, revitalized neighborhoods and inviting public spaces emerging all at once. Here’s an inside look at what’s behind this New Boom — and a preview of what our revitalized city will be.

Trend #3: The Luxification of Center City

The suburbs aren’t dying; they’re simply moving to town. A look at five (of the more than 75) million-dollar-plus city homes being built right now — for all the Empty nesters and parents who want space, garages and yards. By Angelly Carrion
111 Walnut Street

These four townhomes on the edge of Society Hill — being developed by Tom Kelly and designed by Moto Designshop — are stunners with lots of natural light and glass-walled master baths that look into an interior courtyard. All are priced between $2.5 million and $3 million; two have sold.

7 in Spire

Along with huge lots (20 feet wide and 71 feet long), these seven Old City townhomes priced between $1.65 million and $1.85 million have roomy finished basements, garages, and clear views of the Ben Franklin Bridge from the roof deck. The architect, Shimi Zakin of Atrium Design Group, is also one of the developers.

Parke Place Townhomes

Steps from Broad Street in Bella Vista, developer Donovan Clarke has completed 10 townhomes that start at $1.25 million, with 12 more on the way. The 4,000-square-foot homes are split over seven levels, with airy basements and garages.

The Eight on Race

These eight Logan Square townhomes being built by Matzi Ben-Maimon cost between $1.8 million and $2.4 million and boast 5,000-plus square feet of space. A coveted 23 feet in width, they have two-car garages and elevators.

500 Walnut

Tom Scannapieco, the man behind the renowned 1706 Rittenhouse residences, is set to break ground on his next one-percenter project: a 26-floor glass tower overlooking Independence Mall. The 37 large units priced between $2.5 million and $8.5 million — plus a $17.6 million penthouse — are totally customizable and have amenities galore, like a robotic car retrieval. More than $75 million in pre-construction reservations have been made.

>> Click for Trend #4: Market East Gets Shiny