And So It (Officially) Begins: Groundbreaking Date Set for 500 Walnut

Scannapieco Development's latest uber-luxury tower is about begin construction in earnest.

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Tom Scannapieco’s next big project is about to take off in earnest at 5th and Walnut as the official groundbreaking date has been set for Thursday, March 12 at 11:30 a.m. You could argue that with $75 million in pre-construction reservations Scannapieco and crew already have in tow, the project has been “official” for quite some time. In case you’re wondering, that’s over half of the 37 units in the building.

The press release for the event tells us the Mayor Michael Nutter will be in attendance to welcome the commencement of construction for the building being touted as Philly’s “most innovative condo tower to date.” In fact, the groundbreaking is being billed as “innovative” as the project itself, featuring never-before-seen renderings, videos and “other exciting glimpses” into the glass needle that will overlook the most historic square mile in America. It won’t be held on site, either. The event will take place at National Museum of American Jewish History at 5th and Market Streets.

Here’s a refresher on the project, which is expected to open in spring 2017:

  • 26-story “glass needle” designed by Cecil Baker
  • Residences range from 2,600-square-feet to 8,500-square-feet
  • Fully customizable two-story penthouse priced at $17.6 million (multiple balconies, elevator, roof terrace and more)
  • Underground robotic car parking system, 84 spaces with retrieval in under 90 seconds.
  • Sky-lit 50 foot lap pool with hot tub
  • Private boardroom, entertainment suite, library/billiard room, fitness center
  • 4,000-square-foot landscaped outdoor terrace overlooking Independence Park
  • Lobby level garden with water feature

More 500 Walnut coverage [Property]