Under Armour Flagship, Apartment High-Rise Planned for 16th and Walnut
Plans are starting to take shape for two key properties on the corner of 16th and Walnut, as owner Pearl Properties is busy working on designs for 1527 and 1529-33 Walnut Street–the former site of Lululemon and current home of the Brown Brothers Harriman Co. building, respectively.
“We are very excited and are still working on our final designs with our architect, DAS,” said James Pearlstein, the “Pearl” in Pearl Properties, in an email. ” Our plan is a mixed use residential apartment project anchored by two large retail spaces, Under Armour on the corner and an additional retailer to the east.”
The Under Armour deal was first reported back in October, but all signs began to point to something much larger when Pearl purchased the Lululemon site next door–which closed back in January after debris came from 1529 Walnut came crashing through its roof. Lululemon has since signed a lease near Rittenhouse Square, and the building has been demolished.
Multiple permits issued on August 20 at its former home base confirmed the specualtion: Pearl was looking to combine the extra space and add a residential overbuild on the corner of 16th and Walnut.
Though the designs are still in flux, Pearlstein did confirm that it would be one 12-story building. A roof deck would adorn the 12th floor, with an outdoor terrace on the 8th floor. Pearlstein expected the full project to be delivered in 18 months, or around March 2017.
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