Center City Philadelphia Developments 2014-2018

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CENTER CITY PHILADELPHIA DEVELOPMENTS 2014-2018

Center City District & Central Philadelphia Development Corporation 660 Chestnut Street Philadelphia PA, 19106 215.440.5500

WWW.CENTERCITYPHILA.ORG INTRODUCTION 02

DEVELOPMENTS MAP 04

COMMERCIAL/MIXED-USE 06

CULTURAL 07

HEALTHCARE & EDUCATION 09

GOVERNMENT & NON-PROFIT INSTITUTIONS 10

HOSPITALITY 11

PUBLIC SPACE 13

RETAIL 15

RESIDENTIAL 16

RESIDENTIAL/MIXED-USE 18

ACKNOWLEDGEMENTS 28 MORE THAN $6.7 BILLION IS BEING INVESTED OR IS PLANNED FOR MAJOR DEVELOPMENTS BETWEEN SPRING GARDEN AND SOUTH STREETS, RIVER TO RIVER, IN CENTER CITY. THIS REPRESENTS A 43% INCREASE OVER LAST YEAR’S SUMMARY AND PROJECTION OF DEVELOPMENT AND INDICATES STRONG INVESTOR AND INSTITUTIONAL CONFIDENCE. THROUGHOUT THE REGION AND ACROSS THE COUNTRY, THERE IS GROWING DEMAND FOR TRANSIT-ORIENTED, MIXED-USE PLACES AND PHILADELPHIA’S WALKABLE, 17TH CENTURY STREET GRID IS BEING SUCCESSFULLY REPURPOSED FOR 21ST CENTURY USES.

A total of 10 major development projects of various types Center City’s growing residential population with average were completed between Spring Garden and South Streets household incomes over $100,000 is spurring several in 2014; 25 more were under construction as of December large-scale retail projects, such as PREIT’s redevelopment 2014, and 26 are proceeding through the approvals process. of The Gallery and NREA’s East Market project. More than All 61 developments are categorized by type and are mapped 2.3 million square feet of retail is expected to be added to on pages 4-5. Center City in the next few years, with a majority of it east of Broad Street, where there is room to accommodate the Of the 61 major Center City developments, 30 are larger floor plates that big-box retailers prefer. residential/mixed-use and another 6 are exclusively residential. The remaining developments include public In addition to the developments map on pages 4-5, the space (6), cultural (5), hospitality (4), retail (3), government accompanying report includes full-color renderings and and non-profit institutions (3), commercial/mixed-use (2), project descriptions of all 61 major developments. The and healthcare and education (2) projects. report highlights major projects that were completed in 2014, were under construction, or had been announced as The $1.2 billion Comcast Innovation & Technology Center, of the end of Q4 2014, from Spring Garden to South Streets. being developed by Liberty Property Trust, is the largest The Center City District collected information on the various planned project in the city’s history. The new tower at 18th projects from published reports and Civic Design Review and Arch Streets will add more than 1.3 million square feet applications and verified the information with the developers of Trophy office space to the downtown, and all of it will be and/or architects of the projects. For the purposes of leased by Comcast. The building will also house the new this publication, all data reflect project status, design, Four Seasons Hotel. and information available to the public as of the end of Q4 2014. For updates to these and future projects, visit Strong increases in leisure, convention and business travel, www.CenterCityPhila.org/Developments. have created more demand for additional downtown hotel rooms. Several hotel projects are in the pipeline, including the boutique SLS, Hudson and Kimpton Hotels, and a W Hotel and Element by Westin. Center City is expected to add 1,938 new hotel rooms by 2018, bringing the downtown total to 13,000 rooms, an increase of 97% over pre-Convention Center levels.

2 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org MAJOR PROJECTS COMPLETED IN 2014 & IN THE PIPELINE

$6.7 billion total investment 6,686 residential units 1,938 hotel rooms 1,961,600 SF of commercial/mixed-use development 2,331,315 SF of new retail space* Major Development in Center City by Type and Square Footage

MAJOR DEVELOPMENTS IN CENTER CITY BY TYPE & SQUARE FOOTAGE

Commercial/Mixed-use 1,961,600 SF | 11%

MAJOR DEVELOPMENTS IN CENTER CITY BY COMPLETION DATE

15 16 14 14

s 12 10 10

oject 10 8

6 4 4 Number of Pr 2 0 2014 2015 2016 2017 2018

Note: Several of the projects included on the map had not yet announced completion dates, development costs, or square footage as of the end of Q4 2014. As a result, these figures are not included in the respective totals.

* The total square footage for new retail includes the total square footage of developments categorized as “retail” projects, as well as any retail square footage in developments categorized as “residential/mixed-use” or “commercial/mixed-use” projects.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 3 DEVELOPMENTS

DEVELOPMENTS IN CENTER CITY

SPRING GARDEN ST. 26 SPRING GARDEN ST. 6 29 46

SCHUYLKILL

B ENJAMI

N FRANK 18 RIVER LI 42 N P CALLOWHILL ST. CALLOWHILL ST. KY

32 . .

12 16 18TH ST 10 59 11TH ST 52 VINE ST. EXP 56 . . 13 FRANKLIN 21ST ST

LOGAN . 7 16TH ST SQUARE SQUARE . 17TH ST . .

. 41 13TH ST 12TH ST RACE ST. 20TH ST RACE ST. 19 . . B ENJAMI . 22ND ST 23RD ST N FRAN 15TH ST

LI . N 3 CHERRY ST. PENNSYLVANIA CONVENTION CENTER CHERRY ST. . P . KY TH BROAD ST 2ND ST 8TH ST 19TH ST 11 NOR 58 45 ARCH ST. ARCH ST.

20 . 55 54 1 LOVE 7TH ST . PARK . 9TH ST

33 10TH ST FILBERT ST. 2 JFK BLVD. . DIL .

40 . . FRONT ST P 25 WORT ARK 6TH ST 4TH ST 38 5TH ST 34 . .

MARKET ST. WEST H MARKET ST. EAST CITY 53 17 HALL 3RD ST

JUNIPER ST 50 37 28 35 14 CHESTNUT ST. CHESTNUT ST. 22 51 48 9 39 5

SANSOM ST. SANSOM ST. 24 61 47

WALNUT ST. WALNUT ST.

36 23 30 RIVER DELAWARE RITTENHOUSE 15 WASHINGTON SQUARE SQUARE LOCUST ST. LOCUST ST. 27 57

SPRUCE ST. SPRUCE ST. 4 21 . 44

PINE ST. PINE ST.

31 SOUTH BROAD ST LOMBARD ST. LOMBARD ST...... 23RD ST . 17TH ST 16TH ST 15TH ST 18TH ST 20TH ST 19TH ST . . 21ST ST

25TH ST 24TH ST 43 SOUTH ST. SOUTH ST. . . 49 . 8 60 13TH ST 22ND ST 12TH ST BAINBRIDGE ST. BAINBRIDGE ST. . . 2ND ST FRONT ST FITZWATER ST. FITZWATER ST.

Source: Developments Database, Center City District . . . 11TH ST . 10TH ST 5TH ST . CATHRINE ST. . CATHRINE ST. . . 4TH ST 6TH ST . 7TH ST 9TH ST 8TH ST

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 3RD ST 4 CHRISTIAN ST. CHRISTIAN ST.

WASHINGTON AVE. DEVELOPMENTS

COMMERCIAL/MIXED-USE 1. Comcast Innovation & Technology Center 2. PPA 8th & Filbert Garage

CULTURAL 3. FringeArts 4. Kimmel Center Renovation SPRING GARDEN ST. 5. Museum of the American Revolution 26 6. Philadelphia Museum of Art Expansion, Phase I SPRING GARDEN ST. 7. Nicholas & Athena Karabots Pavilion at The Franklin Institute 6 29 HEALTHCARE & EDUCATION 46 8. Children’s Hospital of Philadelphia - Schuylkill Avenue, Phase I

SCHUYLKILL 9. Thomas R. Kline Institute of Trial Advocacy

B GOVERNMENT & NON-PROFIT INSTITUTIONS ENJAMI

N 10. Philadelphia Pennsylvania Mormon Temple FRANK 18 RIVER LI 42 11. Philadelphia Family Courthouse N P CALLOWHILL ST. CALLOWHILL ST. KY 12. The Free Library of Philadelphia Parkway Central Renovation

HOSPITALITY

32 .

. 13. Marriott AC

12 16 18TH ST 10 59 14. W Hotel and Element by Westin 11TH ST 52 15. Hudson Hotel VINE ST. EXP 56 16. Kimpton Hotel . . 13 FRANKLIN

21ST ST PUBLIC SPACE LOGAN . 7 16TH ST SQUARE SQUARE 17. Dilworth Park . 17TH ST . .

. 41 18. Reading Viaduct, Phase I 13TH ST 12TH ST RACE ST. 20TH ST RACE ST. 19 19. Race Street Connector, Phase II . . B ENJAMI . 20. John F. Kennedy Plaza/LOVE Park 22ND ST 23RD ST N FRAN 15TH ST 21. Schuylkill Banks Boardwalk K

LI . N 3 CHERRY ST. PENNSYLVANIA CONVENTION CENTER CHERRY ST. . P

. 22. Penn’s Landing KY TH BROAD ST 2ND ST 8TH ST 19TH ST 11 NOR 58 45 RETAIL ARCH ST. ARCH ST. 23. 15th & Walnut

20 . 55 54 1 LOVE 24. 1501-05 Walnut 7TH ST . PARK . 25. The Gallery 9TH ST

33 10TH ST FILBERT ST. 2 JFK BLVD. .

DIL RESIDENTIAL .

40 . . FRONT ST P 25 26. Mural Lofts WORT ARK 6TH ST 4TH ST 38 5TH ST 34 27. One Riverside . .

MARKET ST. WEST H MARKET ST. EAST CITY 28. The Residences at Two Liberty Place 53 17 HALL 3RD ST 29. Museum Towers II

JUNIPER ST 50 30. 500 Walnut 31. 410 at Society Hill 37 28 35 14 CHESTNUT ST. CHESTNUT ST. 48 22 RESIDENTIAL/MIXED-USE 51 9 39 5 32. Park Towne Place SANSOM ST. SANSOM ST. 33. The Sterling 61 47 34. The Shirt Corner 24 35. Avenir WALNUT ST. WALNUT ST. 36. The Icon 36 30 RIVER DELAWARE 23 37. AQ Rittenhouse RITTENHOUSE 15 WASHINGTON 38. 1919 Market SQUARE SQUARE LOCUST ST. LOCUST ST. 39. 1112-1128 Chestnut Street 40. Mellon Independence Center (MIC) Tower 27 41. 205 Race Street 57 42. Renaissance Plaza

SPRUCE ST. SPRUCE ST. 43. Southstar Lofts 4 44. SLS LUX Philadelphia Hotel and Residences 21 . 44 45. The Pottery 46. Rodin Square 47. The Curtis Center PINE ST. PINE ST. 48. 1346 Chestnut Street 49. 1430 South Street 31 50. East Market, Phase I SOUTH BROAD ST LOMBARD ST. LOMBARD ST...... 51. 1700 Chestnut . . 23RD ST . 17TH ST 16TH ST 15TH ST 18TH ST 52. Eastern Tower Community Center 20TH ST 19TH ST . .

21ST ST 53. 2400 Market Street

25TH ST 24TH ST 43 SOUTH ST. SOUTH ST. 54. 1900 Arch . 55. 1900 Arch Expansion . 49 .

8 13TH ST 60 56. One Water Street 22ND ST 12TH ST BAINBRIDGE ST. BAINBRIDGE ST. 57. 1401 Spruce Street 58. 810 Arch Street . . 59. 1601 Vine Street FRONT ST 2ND ST FITZWATER ST. FITZWATER ST. 60. 2400 South 61. 1213 Walnut . . . 11TH ST . 10TH ST 5TH ST . CATHRINE ST. . CATHRINE ST. . . 4TH ST 6TH ST . 7TH ST 9TH ST 8TH ST

3RD ST Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org CHRISTIAN ST. CHRISTIAN ST. 5

WASHINGTON AVE. COMMERCIAL/MIXED-USE

Developer: Liberty Property Trust & Comcast 1. COMCAST INNOVATION & TECHNOLOGY CENTER Location: 1800 Arch Street Size: 1,803,000 SF Hotel Rooms: 222 Start Date: Summer 2014 Completion Date: Q1 2018 Investment: $1.2 Billion Description: The 59-story Comcast Innovation & Technology Center will be 1,121 feet high and the tallest building in the United States outside of New York City and Chicago. Designed by world-renowned architect Norman Foster, the building will provide office space for Comcast and house the 222-room Four Seasons Hotel. The design will be conducive to an open, collaborative work environment and will seek to foster innovation, research, technology, and discovery, with interiors to be designed by Gensler. The project will add 1,321,921 SF of office space, all of which Comcast will occupy. Comcast plans to add 2,800 new jobs and will be relocating NBC 10 and Telemundo from Bala Cynwyd to Center City. Comcast will control 80% of the joint venture, while Liberty will own the remainder.

Developer: Philadelphia Parking Authority 2. PPA 8TH & FILBERT GARAGE Location: 801 Filbert Street Size: 158,600 SF Start Date: 2013 Completion Date: Summer 2015 Investment: $28 Million Description: The focus of the project is to turn the 8th & Filbert garage into a gateway between Chinatown and Market Street by improving the streetscape. Designed by Wallace Roberts & Todd (WRT), the project includes equipping the parking garage with new façades, green elements, new interior paint and lights, as well as playful LED lights hanging over 8th Street. The 8th Street retail spaces under the garage will be revamped into a vibrant retail corridor and the now vacant storefronts will be filled. To green the 100% impervious structure, WRT designed rooftop cisterns that will catch water for pressure washing and other garage maintenance. The design will also make use of plant material to capture water, soften the garage’s landscape, cut glare, and provide memory markers for those walking or driving through the garage.

6 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org CULTURAL

3. FRINGEARTS 4. KIMMEL CENTER RENOVATION - VOLVER AND THE SEI INNOVATION CENTER

Developer: Kimmel Center Location: 300 South Broad Street

Developer: FringeArts Size: 4,400 SF Location: 140 North Christopher Columbus Boulevard Start Date: April 2012 Size: 14,747 SF Completion Date: Spring 2014 Start Date: 2013 Investment: $4.5 Million Completion Date: August 2014 Description: A decade after the construction of the $275 million Kimmel Center, the board presented a master plan for Investment: $9.3 Million improvements. How much of the plan gets completed is contingent Description: The 1903 historic former pumping station has been on funding, but the renovation is designed to improve amenities. transformed into a year-round center for contemporary performing These include remaking the rooftop garden (the $5.7 million and visual arts. The 14,747-SF building features a 232-seat theater, remodel was completed in 2012) and adding the SEI Innovation rehearsal and creation studio, permanent festival hub, outdoor Center and Jose Garces’ restaurant Volver along Spruce Street. events plaza, restaurant/bar, and administrative offices. The more ambitious parts of the plan, to be implemented in phases as money is raised, include reconfiguring the Broad Street façade, adding a new plaza stage, and replacing two large staircases leading from the entrance to the first tier of Verizon Hall.

Developer: Museum of the American Revolution 5. MUSEUM OF THE AMERICAN REVOLUTION Location: Third and Chestnut Streets Size: 117,000 SF Start Date: 2014 Completion Date: 2016 Investment: $101 Million Description: Designed by Robert A.M. Stern Architects, the museum will add another attraction to Philadelphia’s historic district. Philadelphia-based INTECH Construction demolished the old Bicentennial Visitor Center in spring 2014, and construction began in the fall. The development of the building and the museum’s exhibits will generate a one-time economic impact of $135.9 million in direct and indirect spending.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 7 CULTURAL

6. PHILADELPHIA MUSEUM OF ART EXPANSION, PHASE I

Developer: Philadelphia Museum of Art Location: 2600 Benjamin Franklin Parkway Size: 169,000 SF Start Date: TBD Completion Date: TBD Investment: $150 Million-$160 Million

Description: Designed by world-renowned architect Frank Gehry, the proposed expansion and renovation of the Philadelphia Museum of Art will add 124,000 SF of interior public space, including 78,000 SF of gallery space throughout the building. Gehry’s design focuses on the transformation of the interior of the Museum through the renovation of Great Stair and Lenfest Halls, as well as major improvements to how visitors enter and move through the building. Other changes include renovation of the auditorium and the addition of a 640-foot-long vaulted corridor that runs the length of the central building. Given the Museum’s prominence as a Philadelphia landmark, Gehry Partners and OLIN have proposed minimal alterations to the exterior of the building. These include redesign of the plaza in front of the western entrance, landscaping of an area now used for parking, and integration of skylights and sunken gardens into the east terrace to bring natural light into the new galleries. Development plans are modular and will unfold in at least two phases. This will allow for pieces of the project to be built at different times as funding becomes available. The projected cost of Phase I of the $350 million project is estimated at $150 million – $160 million and will take up to five years to complete.

Developer: The Franklin Institute 7. NICHOLAS & ATHENA KARABOTS PAVILION AT THE Location: 222 North 20th Street FRANKLIN INSTITUTE Size: 53,000 SF Start Date: April 2012 Completion Date: June 2014 Investment: $41 Million Description: Adjacent to the Benjamin Franklin National Memorial, the pavilion houses an expanded education center, state-of-the-art exhibit on the human brain, and an upgraded and expanded gallery for traveling exhibitions. The exterior of the building incorporates modern features, such as extensive landscaping that mitigates stormwater drainage and a 3,000-SF kinetic “shimmer wall” by renowned artist Ned Kahn that moves with the wind and reflects the sky. Underneath the shimmer wall is a new terrace with seating and rain gardens. The addition was designed by Philadelphia-based SaylorGregg Architects.

8 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org HEALTHCARE & EDUCATION

Developer: Children’s Hospital of Philadelphia 8. CHILDREN’S HOSPITAL OF PHILADELPHIA - SCHUYLKILL AVENUE, PHASE I Location: 2716 South Street Size: 735,656 SF Start Date: Summer 2014 Completion Date: Spring 2017 Investment: $250 Million to $500 Million (media estimates) Description: As the first phase of a four- phase Master Plan, the project includes the construction of a new, 23-story Class A office tower to be used by the Children’s Hospital of Philadelphia (CHOP) for clinical research and administrative programs. The tower will house a research staff of 1,000 and include utilities, infrastructure, structured parking, and loading. Phase I will also include surface parking and several public realm spaces (South Street Plaza, Bainbridge Place, and Schuylkill Green), while allowing for a future connection to the Schuylkill River Trail. CHOP is negotiating with CSX for a promenade over the tracks and a bridge to Schuylkill Banks.

Developer: Drexel University 9. THOMAS R. KLINE INSTITUTE OF TRIAL ADVOCACY Location: 1200-1202 Chestnut Street Size: 24,000 SF Start Date: Fall 2015 Completion Date: 2016 Investment: $13.9 Million Description: The former Beneficial Bank designed by Horace Trumbauer on the corner of 12th and Chestnut Streets was acquired by attorney Thomas R. Kline in July 2013. In September 2014, it was announced that he would be donating the building to Drexel as part of a $50 million donation to its Law School. The building will house the Thomas R. Kline Institute of Trial Advocacy and will include programming for law students and the LLM program. Funds for renovation of the building will come from the donation to the school.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 9 GOVERNMENT & NON-PROFIT INSTITUTIONS

10. PHILADELPHIA PENNSYLVANIA 11. PHILADELPHIA FAMILY MORMON TEMPLE COURTHOUSE

Developer: Church of Jesus Christ of Latter-day Saints Location: 1739 Vine Street Size: 53,000 SF Start Date: 2013 Completion Date: 2016 Investment: $70 million Description: The first Mormon Temple in Pennsylvania, designed by Perkins+Will, is Developer: Pennsylvania Department of General being built on what used to be a 1.6-acre surface parking lot. The temple will include Services stained glass along the length of the building, a landscaped plaza with reflecting Location: 1501 Arch Street pool and public gardens, underground parking, and a 200-foot double spire meant to resemble that of Independence Hall’s. Size: 669,000 SF Start Date: 2012 Completion Date: October 2014 Investment: $160 Million Description: Designed by EwingCole, the new courthouse unites the Domestic Relations and Juvenile Division facilities of the Philadelphia Family Court, formerly located in two separate buildings. The 265-foot building includes 14 floors of office space and three stories of 12. THE FREE LIBRARY OF PHILADELPHIA underground parking housing 265 cars. PARKWAY CENTRAL RENOVATION

Developer: The Free Library of Philadelphia Location: 1901 Vine Street Size: 40,000 SF Start Date: January 2016 Completion Date: June 2017 Investment: $28.5 Million Description: In September 2014, the Free Library received a $25 million grant from the William Penn Foundation to renovate various neighborhood libraries, $8 million of which will go toward the creation of two new public spaces at the Parkway Central Library—The Common and the Business Research and Innovation Center. This will take place in the several floors of space formerly occupied by closed, outdated book storage stacks, the contents of which remain accessible to the public through the Library’s Regional Research and Operations Center. Designed by internationally acclaimed architect Moshe Safdie, The Common will serve as an active community space where individuals can gather to create, collaborate, and share. The Business Research and Innovation Center will also offer incubator space for new projects and ideas and help individuals gain assistance in turning their entrepreneurial dreams into reality. With a budgeted project cost of $28.5 million, the Free Library has to raise an additional $10 million to reach its goal and complete this phase of renovations at the Parkway Central Library.

10 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org HOSPITALITY

13. MARRIOTT AC 14. W HOTEL AND ELEMENT BY WESTIN

Developer: Baywood Hotels Location: 228-38 North 13th Street Hotel Rooms: 150 Start Date: TBD Completion Date: TBD Description: The historical building, designed by William Harold Lee, was first constructed as a Warner Brothers film exchange facility and was put up for sale in the summer of 2014. Hotel developer Baywood Hotels is interested in the site given its proximity to the Convention Center. They are proposing the addition of a 12-story Developer: Chestlen Development hotel on top of the existing two-story structure. The hotel flag will be a Marriott AC, Marriott’s European brand. It will be the first Marriott AC in Philadelphia and one Location: 1441 Chestnut Street of the first in the United States. The proposed hotel will include meeting rooms, a Size: 770,607 SF fitness center and pool, and will have 12 guest rooms per floor. The building will be Hotel Rooms: 755 redeveloped as LEED Gold and will include a green roof. Start Date: March 2015 Completion Date: Spring 2018 Description: The 51-story hotel will be 582 feet tall and have 295 rooms under the W Hotel flag and 460 rooms under the Element by Westin flag. Each hotel will have a separate entrance and lobby. It will have 41,000 SF of meeting and banquet space, an 8,600-SF restaurant, 1,700 SF of retail on the corner and a 185-space, below-grade parking garage. Once the project is completed, its market value is expected to reach $95.8 million and generate $220.6 million in incremental tax revenues over 20 years. The project will receive $33 million in Tax Increment Financing.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 11 HOSPITALITY

Developer: Morgan Hotel Group 15. HUDSONSLS INTERNATIONAL HOTEL HOTEL AND RESIDENCES Location: 1602-34 Chancellor Street Size: 219,600 SF Hotel Rooms: 310 Start Date: Spring 2015 Completion Date: 2016 Investment: $125 Million Description: Designed by DAS Architects, the $125 million property will feature both high-end amenities and sustainable building materials throughout. The high-rise hotel will feature 310 guest rooms, including 40 spacious executive suites. The Penthouse floor will offer guests and patrons access to an exclusive dining venue with panoramic city views. The property will also include two stories of luxury retail shops, at least one restaurant and bar, as well as special events and meeting facilities.

Developer: Peebles Corporation and P&A Associates 16. KIMPTON HOTEL Location: 1801 Vine Street Size: 250,000 SF Hotel Rooms: 199 Start Date: 2015 Completion Date: 2016 Investment: $90 Million Description: The 73-year-old Family Court building will be redeveloped into a hotel now that the Court has moved to its new location at 15th and Arch Streets. The building’s interior, including all 37 murals and lighting fixtures, were designated historically significant in 2011 and will remain intact. The project will include 199 rooms, a 3,500-SF ballroom, meeting and board rooms, a spa and fitness center, and a restaurant and bar. The cost of the project will be March 28, 2014 financed with $30 million in equity from the San Francisco real estate company MacFarlane Partners.

12 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org PUBLIC SPACE

18. READING VIADUCT, PHASE I

17. DILWORTH PARK

Developer: Center City District Location: West side of City Hall Size: 120,500 SF Developer: Center City District Start Date: 2012 Location: Callowhill Street to Noble Street Completion Date: September 2014 Size: 26,000 SF Investment: $55 Million Start Date: 2015 Description: Dilworth Park was transformed from an inaccessible, Completion Date: 2016 multi-level, unattractive, hard-surface plaza into a sustainable, well- maintained, green public space with no stairs or barriers from the Investment: $9.6 Million street. The renovated Dilworth Park added 20,571 SF of new usable Description: The Reading Viaduct project seeks to area and includes a 6,900-SF lawn, tree groves, a programmable transform the abandoned railway that slices through the fountain, and space for 400 benches and chairs. The concourse was area between Chinatown and Fairmount Avenue into a dramatically improved and the new transit gateway provides dramatic public park. The Center City District was drawn to the entrances to Broad Street and Market Street subways and the trolley project because of the success of the High Line project in lines. New elevators have made the transit levels accessible for the New York City, and saw an opportunity to add residential first time. and light commercial development in the expanding communities of Center City and Chinatown. With 32% of the land in the area around the Viaduct still currently vacant and undeveloped, the opportunity exists to create a unique, mixed-use, mixed-income neighborhood like no other in Developer: Central Delaware Center City. Phase I of the project will involve a 26,000-SF Waterfront Corporation section of the Viaduct known as the SEPTA Spur. Work will Location: Race Street between include landscaping, adding stairs that connect the railway 2nd Street and Columbus to the street level, waterproofing the railway’s leaking Boulevard underside, and environmental remediation. Size: Two Blocks Start Date: 2015 19. RACE STREET Completion Date: 2015 CONNECTOR, PHASE II Investment: $2.5 Million Description: This project will improve pedestrian and bicycle access to the Race Street Pier from Front and Race Streets. New lighting, landscaping and hardscaping are designed to make traveling from neighborhood to waterfront more convenient and pleasant. The project is part of a long-term vision for the Central Delaware Waterfront. Phase I of the project was completed in the fall of 2012 and Phase II will be completed in 2015.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 13 PUBLIC SPACE

Developer: City of Philadelphia/InterPark 20. JOHN F. KENNEDY PLAZA/LOVE PARK Location: 16th Street and John F. Kennedy Boulevard Size: 102,802 SF Start Date: March 2016 Completion Date: Spring 2017 Investment: $15 Million Description: Mayor Michael A. Nutter and City Council President Darrell L. Clarke reached an agreement that allows for the rehabilitation of John F. Kennedy Plaza, known as LOVE Park. Plans included the sale of the garage beneath LOVE Park for $30 million. The design features of the park are being decided through a public process.

Developer: Delaware River 21. SCHUYLKILL BANKS BOARDWALK 22. PENN’S LANDING Waterfront Corporation Location: Delaware River Waterfront/Penn’s Landing Area between Market and South Streets Size: 479,160 SF Start Date: TBD Completion Date: TBD Investment: $250 Million

Developer: City of Philadelphia/Schuylkill River Description: An 11-acre park will stretch from Front Street to the river, capping Development Corporation I-95, engineered so that trees can be planted on what feels like ground level. The park will end at the waterfront in a large public space, framed by an amphitheater. Location: East side of Schuylkill River between By creating this public amenity, the hope is that the $250 million investment will Locust and South Streets spur the private aspects of the development — residences, restaurants, and shops Size: 44,500 SF — estimated at $800 million to $1 billion. If all goes according to plan, Penn’s Start Date: 2012 Landing will be redeveloped into a mixed-use residential neighborhood. There will be low-rise residential development with mixed uses on the ground floor starting Completion Date: October 2014 along the middle of the boat basin, and mid-rise residential development near the Investment: $17.5 Million rebranded Hilton Hotel. The pier at the end of the boat basin will host residential Description: The existing Schuylkill Banks trail and commercial development, with the very end reserved as public space. could not be extended southward past Locust Street because the land between the railroad tracks and the river becomes too narrow. The City of Philadelphia and the Schuylkill River Development Corporation have built a 2,000-foot concrete structure that runs parallel to the eastern shore of the river from Locust Street to the new stair-tower on the south side of the South Street Bridge.

14 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org RETAIL

Developer: Midwood Investment & Development 23. 15TH & WALNUT Location: 1426-28 Walnut Street Size: 60,000 SF Start Date: Q4 2013 Completion Date: March 2015 Description: Designed by Bohlin Cywinski Jackson, the building will be a modern, glass retail structure, located in the middle of Philadelphia’s prime retail district. It will house the Cheesecake Factory and Verizon, along with other yet-to-be- announced tenants.

24. 1501-05 WALNUT Developer: PREIT Location: 1501-05 Walnut Street Size: 30,000 SF Start Date: TBD Completion Date: TBD Description: PREIT purchased the low-rise retail-and-office building on the northwest corner of 15th and Walnut Streets in January 2014. Plans are to redevelop the property into 30,000 SF of prime retail space on Walnut Street.

Name: The Gallery 25. THE GALLERY Developer: PREIT & Macerich Location: Market Street between 8th and 11th Streets Size: 1,400,000 SF Start Date: TBD Completion Date: TBD Description: In July 2014, it was announced that the California-based retail developer Macerich acquired a 50% interest in The Gallery in return for investing in redeveloping the mall. PREIT and Macerich are now repositioning The Gallery to incorporate first-to-market fashion retailers and artisanal food and restaurant offerings, and become a destination for shopping, dining, and entertainment in Philadelphia. The first anchor tenant is Century 21, which opened a 100,000-SF store in October 2014 in the former Strawbridge’s building. PREIT and Macerich will invest in improvements on a 50/50 basis.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 15 RESIDENTIAL

Developer: EB Realty 26. MURAL LOFTS Management Corporation 27. ONE RIVERSIDE Location: North Broad & Spring Garden Streets Size: 72,000 SF Residential Units: 56 Start Date: February 2015 Completion Date: December 2015 Investment: $16.2 Million Developer: Dranoff Properties Location: 210-20 South 25th Street Description: Purchased by Eric Blumenfeld’s EB Realty Management Corporation in Size: 167,610 SF 2012, plans call for the redevelopment of the former Thaddeus Stevens School into spacious boutique-style lofts. The building on the corner of North Broad and Spring Residential Units: 82 Garden Streets includes the “Common Threads” mural on its west-facing façade. Start Date: April 2015 The project will incorporate existing elements found in the school into the residential conversion, including existing chalkboards and oak cabinetry from the classrooms. The Completion Date: December 2016 project team includes architect Richard Sauder, engineer David Chou and construction Investment: $90 Million company Domus. Description: Located at the intersection of 25th and Locust Streets, at the entrance to the Schuylkill River Park, the high-rise will offer views of University City, the river, and the downtown skyline. The new 22-story glass 28. THE RESIDENCES AT TWO LIBERTY PLACE skyscraper will feature 82 condominiums with high-level finishes and balconies, 110 underground parking spaces, fitness center, in-door pool, club room, hospitality suite, and business center. Plans include a private garden with broad lawns, as well as a separate terrace adjoining the lobby with an outdoor kitchen. One Riverside will be the first from- the-ground-up high-rise condo building started since the financial crisis derailed the 2004-08 construction boom.

Developer: Dranoff Properties and iStar Financial Inc. Location: 1601 Chestnut Street Size: 116,600 SF Residential Units: 60 Start Date: March 2015 Completion Date: Spring 2016 Investment: $48 Million Description: iStar Financial will complete the remaining portion of the 58-story skyscraper Two Liberty Place. They have partnered with Dranoff Properties and plan to convert the space into 60 luxury condominiums on floors 48-57. The sales center opened in March 2015 on the 44th floor with completely redesigned residential units. Later in 2015, an upgraded lobby, street entrance, and amenities will be added.

16 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Developer: Forest City Residential 29. MUSEUM TOWERS II Location: 1801 Buttonwood Street Size: 434,878 SF Residential Units: 286 Start Date: 2015 Completion Date: 2016 Investment: $100 Million Description: The existing 300-unit Museum Towers residential complex is set to nearly double in size. Phase II construction plans include a 270-unit, 16-story tower, 16 townhomes and a 400-space parking garage. The project will sit on what is now a surface parking lot and will include improvements to the adjacent Matthias Baldwin Park. The project team includes Perkins Eastman Architects, Urban Engineers, and law firm Stevens & Lee P.C.

Developer: Scannapieco Development Corporation 31. 410 AT SOCIETY HILL Location: 500 Walnut Street Size: 178,000 SF Developer: Toll Brothers Residential Units: 38 Location: 410 South Front Street Start Date: March 2015 Size: 151,560 SF Completion Date: 2017 Residential Units: 55 30. 500 WALNUT Investment: $174 Million Start Date: 2013 Description: The 26-story “glass-needle” tower overlooking Completion Date: Fall 2015 Independence Hall is designed by Cecil Baker + Associates and built Description: Located at the former New Market site on on an 18,155-SF site that has been vacant for more than a decade. The the eastern hem of Headhouse Square and Front Street, amenity-rich building will have 38 condominiums and offer everything the project will transform the vacant lot into 55 luxury from a multi-level, glass-enclosed fitness center to a large outdoor condominiums ranging from one to four bedrooms. The terrace overlooking Independence National Historic Park. It will also building will also include a courtyard, rooftop terrace, and include a 90-space, underground, fully-automated parking system that 110 parking spaces. stores and retrieves vehicles in less than 90 seconds.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 17 RESIDENTIAL/MIXED-USE

Developer: Aimco 32. PARK TOWNE PLACE Location: 2200 Benjamin Franklin Parkway Start Date: 2013 Completion Date: Phased construction ending 2018 Investment: $200 Million Description: Each unit of this 973-unit complex built in 1959 will be totally gutted, re-configured, and updated. A new swimming pool, three-season outdoor area, and fitness facility will also upgrade the building. A three-acre park in front of the complex will be reactivated with art, sculpture, and spaces for gathering. The developer is in negotiations to bring a restaurant to the building, which has 28,000 SF of retail space.

33. THE STERLING 34. SHIRT CORNER

Developer: Aimco Developer: Alterra Property Group Location: 1815 John F. Kennedy Boulevard Location: 259 Market Street Start Date: 2014 Size: 75,000 SF Completion Date: Phased construction underway Residential Units: 59 Investment: $75 Million Start Date: 2014 Description: This 19-story, mid-century modern tower has 550 Completion Date: July 2015 apartments, 23,000 SF of retail space and 93,000 SF of office Investment: $22 Million space. Residential units will be totally gutted and refurbished. A roof-top pool and sundeck will be renovated and a fitness Description: Alterra Property Group assembled 10 properties facility and three-season space will be created. The ground- on the corner of North 3rd and Market Streets, where the level retail space will be repositioned with new tenants, uses, famous “Shirt Corner” was once located. Plans call for the and storefronts. buildings to be converted into 59 apartments with a CVS on the ground floor.

18 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Developer: Alterra Property Group and The Scully Company 35. AVENIR Location: 1515 Chestnut Street Size: 150,000 SF Residential Units: 175 Start Date: Q2 2014 Completion Date: Q2 2015 Investment: $60 Million Description: The project will redevelop the Class B office building into 175 Class A apartments, 8,000 SF of office and 7,500 SF of existing ground-floor retail. Forty-five of the 75 units will be micro units under 350 SF.

Developer: Alterra Property Group, Federal Capital Partners, Developer: Aquinas Realty and Cross Properties Partners Location: 1616 Walnut Street Location: 2021 Chestnut Street Size: 260,000 SF Size: 60,000 SF Residential Units: 206 Residential Units: 110 Start Date: May 2013 Start Date: 2014 Completion Date: Summer 2014 Completion Date: 2015 36. THE ICON 37. AQ RITTENHOUSE Investment: $97 Million Investment: $32.7 Million Description: The project converted the office tower into rental Description: Aquinas Realty Partners purchased the vacant building apartments. It includes 206 luxury units, 160 parking spaces, from the Philadelphia Redevelopment Authority in 2012. Designed by and 23,000 SF of existing retail. Developers used New York- BLT Architects, plans are to demolish the existing structure and replace based real estate company Delos to infuse the building with it with a 12-story building with 110 apartment units, 4,834 SF of ground- their WELL Building Standards, which promote health and floor retail space, an interior courtyard, bicycle storage, and 9,600 SF wellness into the built environment. Apartments have ‘healthy’ of expansion space for the Freire Charter School, a high school that features like circadian lighting that helps regulate melatonin occupies the building next door. levels, advanced air purification, and water-filtration systems.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 19 RESIDENTIAL/MIXED-USE

Developer: Brandywine Realty Trust and LCOR 38. 1919 MARKET STREET Location: 1919 Market Street Size: 455,000 SF Residential Units: 321 Start Date: Q4 2014 Completion Date: Q2 2016 Investment: $148 Million Description: Designed by Barton Partners, this new mixed-use tower will be 332 feet tall and include 321 upscale apartment units, 215 parking spaces, 108 bike storage spaces, and 24,000 SF of office and retail space. The 29-story tower will be built on a vacant lot on the corner of Market and 20th Streets and will contain retail on the ground floor and offices on the second, as well as concierge service and various amenities including a rooftop fitness center, demonstration kitchen, game room, and a ledge pool. Planned retail and streetscape improvements, including new trees, benches, and bike racks, will activate both Market and 20th Streets.

Developer: Brickstone Realty 39. 1112-1128 CHESTNUT STREET Location: 1112-1128 Chestnut Street Size: 192,000 SF Residential Units: 112 Start Date: Q4 2013 Completion Date: October 2015 Investment: $75 Million Description: The development will include 112 high-end rental units and 95,000 SF of commercial space, with dedicated parking for retail. The developer also has acquired other key properties in the vicinity including: 1021 Chestnut, a 9,500-SF building it plans to convert into coworking space; 106-14 South 11th Street, a 16,000-SF mixed- use building with residential and retail units; and 15-21 South 11th Street, a 30,00-SF building that will be converted into creative office space.

Developer: Brickstone Realty Location: 701 Market Street Size: 377,321 SF Residential Units: 342 Start Date: TBD Completion Date: TBD Investment: $102 Million Description: The 399-foot, 377,321-SF, mixed-use tower will be designed by Stantec Architecture and will attach to the Lit Brothers building on Market Street. It will be 35 stories, and set back 180 feet from Market Street and 150 feet from Seventh and Eighth Streets. The façade will primarily consist of white and gray hues, so as not to distract from the Lits complex, and the north-south orientation and setback will largely protect the 40. MELLON INDEPENDENCE Market Street view. A new basement and lobby will provide the residential component with CENTER (MIC) TOWER an entrance. The ground floor will feature new retail and the first five floors above will be converted for office use.

20 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org RESIDENTIAL/MIXED-USE

41. 205 RACE STREET 42. RENAISSANCE PLAZA

Developer: Carl Marks & Co. Developer: Brown Hill Location: 400 North Columbus Boulevard Development Size: 1,900,000 SF Location: 205 Race Street Residential Units: 1,358 Size: 169,900 SF Start Date: Late 2015 Residential Units: 146 Completion Date: TBD Start Date: Q2 2015 Investment: $800 Million Completion Date: Q4 2016 Description: Carl Marks & Co. is developing a large Description: Designed by GLUCK+ in New York, the mixed-use apartment residential project, Renaissance Plaza, on 5.3 acres complex on the long-vacant corner of 2nd and Race streets will include 146 that front the Delaware River at Columbus Boulevard rental units, 28 parking spaces, 100 bike parking spaces, and 14,000 SF of and Callowhill Street. Designed by Alesker & Dundon commercial space on the ground floor. The building will be 51 feet tall along Architects, the dense project will include 1,342 rental Race Street and rise to just over 187 feet along 2nd Street. The building is apartments in four multi-story buildings and 16 on target to be the first LEED Gold residential high-rise in Center City. The townhomes. Plans also include 69,710 SF of retail, 19,000 apartments will be a mix of studios and one- and two-bedroom units. The SF of office space, 600 parking spaces, and more than an developers plan to claim a bonus for mixed-income housing, so some of the acre of landscaped public space. The project will be built units will be affordable to individuals making 80% of Area Median Income. over four phases and seek LEED Gold certification. The developer is committed to building Phase I and II, with other phases contingent on demand. The equity is in place for Phase I and the developer is working on financing for Phases I and II. Parking for Phases I and II will be built during Phase I, with Phase II construction starting once 50% of Phase I is complete. Construction should start in 2015, with Phase I taking 16 months.

Developer: Dranoff Properties Location: 521 South Broad Street Size: 150,000 SF Residential Units: 85 Start Date: March 2013 Completion Date: 2014 Investment: $32 Million Description: Located on the northeast corner of Broad and South Streets, the project includes 85 high-end rental units and more than 10,000 SF of ground- floor retail. Units include studios, one- and two-bedroom loft apartments, some with balconies and 10-foot ceilings. The project was designed by 43. SOUTHSTAR LOFTS Philadelphia-based architect Cecil Baker + Partners.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 21 RESIDENTIAL/MIXED-USE

Developer: Dranoff Properties and 44. SLS LUX PHILADELPHIA SBE Entertainment Group 45. THE POTTERY HOTEL & RESIDENCES Location: 309-313 South Broad Street Size: 422,838 SF Residential Units: 90 Hotel Rooms: 152 Start Date: Fall 2015 Completion Date: Spring 2018 Investment: $220 Million Description: At 47 stories and 562 feet, the SLS LUX Philadelphia Hotel & Residences will be the tallest tower Developer: Gelfand Yardeni Real Estate Development in Pennsylvania built for residential & Management L.P. use. Located across the street from the Kimmel Center, the project will Location: 105 North 2nd Street include 90 condominiums and the Size: 41,000 SF 152-room boutique SLS Hotel. There Residential Units: 43 will be 160 resident-only parking spaces, as well as ground-floor Start Date: Q1 2014 retail and the prominent corner of Completion Date: Q4 2014 Broad and Spruce will feature a three-story celebrity chef food and Investment: $14 Million beverage operation. Amenities for Description: The former Trenton China Pottery on the both residents and guests include a corner of 2nd and Arch was purchased in 2013 and full spa, fitness center, all-season construction to convert it into 43 rental apartments 75-foot pool, and ballroom/meeting was completed in late 2014. facilities. The building will be designed by Kohn Pederson Fox Associates and the hotel interior designer is Philippe Starck.

Developer: International Financial Company & Dalian Development, LLC Location: 501 North 22nd Street Size: 557,845 SF Residential Units: 293 Start Date: 2014 Completion Date: Q1 2016 46. RODIN SQUARE Investment: $160 Million Description: The development will include 293 luxury apartment units, 500 parking spaces and 85,000 SF of retail on the ground floor. Retail tenants include Whole Foods (55,000 SF), CVS (11,000 SF) and Thomas Jefferson University Hospital (12,000 SF). Designed by MV + A Architects, the development will include more than 35,000 SF of residential amenity areas, including an infinity edge swimming pool, club room, and fitness center, to name a few.

22 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org RESIDENTIAL/MIXED-USE

Developer: Keystone Property Group, Mack-Cali Realty Corp. & Roseland, a Mack-Cali Company 47. THE CURTIS CENTER Location: 699 Walnut Street Size: 885,000 SF Residential Units: 55 Start Date: Spring 2015 Completion Date: Spring 2017 Investment: $25 Million Description: Mack-Cali Realty Corporation and the Keystone Property Group acquired the 885,000-SF Curtis Center for $125 million in the summer of 2014. Plans include converting 90,000 SF of vacant office space into 55 luxury apartments and outdoor streetscape improvements to create a vibrant urban corridor. Retail will be added on the ground floor and will include a corner restaurant with outdoor seating overlooking both Washington Square and Independence National Park. There is a possibility of adding more housing as office leases expire and additional space becomes available. The building will include 50,000 SF of retail, 700,000 SF of office space and 100,000 SF of residential space. Additionally, the owners plan to complete capital improvements to the property, including substantial upgrades to the elevators and renovation of the building’s HVAC system, roof, façade and parking garage. An affiliate of Keystone will manage the office and retail portions of the building, while Roseland, a subsidiary of Mack-Cali, will be responsible for the design, construction, leasing and management of the residential component.

49. 1430 SOUTH STREET

Developer: MRP Residential and Principal Real Estate Investors Location: 1346 Chestnut Street Developer: New South Philly LP Size: 209,095 SF Location: 1430 South Street Residential Units: 220 Size: 29,832 SF Start Date: Q4 2014 Residential Units: 34 48. 1346 CHESTNUT STREET Completion Date: Q1 2017 Start Date: September 2014 Description: MRP Residential and Principal Real Estate Investors Completion Date: December 2015 acquired the property for a reported $33 million in February 2014. The Description: The developer is building a five-story, 34-unit new owners are redeveloping the property while maintaining the existing mixed-use building for the site, with three single-family homes façade and structural systems. Upgrades will include a new lobby, fitness and one carriage house that hovers over access to a small center, theater room, interior landscaped courtyard, clubroom, roof parking area in the rear. The building will consist of 18 one- deck, and renovated elevator cabs. This is the Washington, D.C.-based bedroom and 16 studio apartments. There will be 2,131 SF of company’s first acquisition in the Center City market. ground-floor retail facing South Street.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 23 RESIDENTIAL/MIXED-USE

50. EAST MARKET, PHASE I 51. 1700 CHESTNUT

Developer: National Real Estate Development Developer: Pearl Properties Owner: National Real Estate Advisors, JOSS Location: 1700 Chestnut Street Realty Partners, Young Capital, and SSH Real Size: 100,000 SF Estate Residential Units: 95 Location: Block between 11th and 12th Streets, Start Date: 2014 Market and Chestnut Streets Completion Date: 2015 Size: 775,000 SF Investment: $14 Million Residential Units: 322 Description: Pearl Properties is redeveloping three buildings (1700, 1708, and Start Date: October 2014 1710) into a mixed-use development with a 40,000 SF Nordstrom Rack on the Completion Date: Spring 2016 lower three floors and 95 luxury rental apartments above. Investment: $250 Million Description: The project will be a combination of pedestrian-oriented retail, new residential rental apartments, office space, parking, signage, and hospitality uses. Phase I of the $500 million-plus mixed-use project aims to 52. EASTERN TOWER Developer: Philadelphia upgrade Philadelphia’s downtown retail district COMMUNITY CENTER Chinatown Development east of Broad Street. Following demolition, two Corporation and JNA Capital, Inc. new retail buildings with LED signage will be constructed along Market Street, with 322 rental Location: 10th and Vine Streets apartments above. Also included in Phase I Size: 195,000 SF is the redevelopment of 34 South 11th Street Residential Units: 150 (the former Family Court Building) into modern Class A warehouse office space above new Start Date: 2015 ground-floor retail. In addition, the entire site Completion Date: 2017 will feature below-grade parking and a central Investment: $76 Million loading facility. Following the completion of Phase I, the developer will begin working on Description: PCDC has helped form an immigrant investor Regional Center that will Phase II of the project. The second phase will seek to raise $33 million to fund its Eastern Tower Community Center in Chinatown. include demolishing and replacing the existing The Regional Center is part of the EB-5 program. Administered through the United mixed-use building located on the 1100 block of States Citizenship and Immigration Services (USCIS), the program is designed Chestnut Street with retail, residential, office, to attract foreign investment in projects that promote economic growth and job and parking uses. Once complete, the project creation. The remainder of the funding for the 23-story, mixed-use development will reopen Ludlow Street and Clover Street, now consists of a $23 million New Markets Tax Credit and loan commitment from closed to pedestrian and vehicular traffic, and Citibank and a combination of private equity and grants. The project will include create a pedestrian walkway from Market Street 150 apartments, offices, recreational and retail space, as well as a recreation/event to Chestnut Street. space for the community.

24 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org RESIDENTIAL/MIXED-USE

53. 2400 MARKET STREET

Developer: Lubert-Adler and PMC Property Group Location: 2400 Market Street Size: 1,000,000 SF Residential Units: 300 Hotel Rooms: 150 Start Date: January 2015 Completion Date: January 2017 Investment: $100 Million+ Description: A partnership consisting of PMC Property Group and Lubert-Adler purchased Marketplace Design Center for $42 million in April 2014. The property consists of two buildings, 2400 Market Street, which is about 370,000 SF, and 12 South 23rd Street, a six-story, 120,000-SF structure. It is ideally positioned across from University City and 30th Street Station, and close to Rittenhouse Square and the Central Business District. Plans call for the creation of a mixed-use complex by adding a residential tower on top of the building, as well as the creation of retail and creative-class office space below it. The vision is to keep the lower floors as the Marketplace Design Center, but upgrades will be made to the first floor and new retail space will be created for a grocery store, restaurant and coffee shop.

54. 1900 ARCH 55. 1900 ARCH EXPANSION

Developer: PMC Property Group Location: 1924 Arch Street Size: 57,000 SF Residential Units: 55 Start Date: September 2014 Completion Date: Summer 2015 Investment: $15 Million Developer: PMC Property Group Description: Given the success of 1900 Arch, the developer is adding a 55-unit expansion on the building’s west side that will run all the way down Location: 1900 Arch Street the site from Arch to Cuthbert. The addition would bring the complex’s Size: 230,000 SF total unit count to 303. Designed by Varenhorst of Philadelphia, it will also Residential Units: 248 include a private courtyard on the first level, as well as a green roof and other sustainable features. Start Date: Spring 2013 Completion Date: Summer 2014 Investment: $65 Million Description: The project consists of 248 luxury residential one- and two-bedroom apartments, more than 26,000 SF of retail on the ground floor, and offices above. The development will include green roofs, a public courtyard, and a parking garage.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 25 RESIDENTIAL/MIXED-USE

56. ONE WATER STREET 57. 1401 SPRUCE STREET

Developer: PMC Property Group Developer: Post Brothers Location: 250 North Columbus Boulevard Location: 1401 Spruce Street Size: 272,178 SF Size: 263,000 SF Residential Units: 250 Residential Units: 220 Start Date: October 2014 Start Date: 2014 Completion Date: Spring 2016 Completion Date: Early 2016 Investment: $65 Million Investment: $100 Million Description: PMC Property Group is planning to develop a 250-unit apartment Description: The former headquarters of the Atlantic building next to the Benjamin Franklin Bridge. The high-rise will have a Richfield Oil Company will be reconverted into 220 13-story wing on the south side and a 16-story wing on the north side. The condos and 13,000 SF of retail. The 21-story building building will have 250 units, approximately 65% one-bedroom units and 35% will include a resident lounge, wine lockers, catering two- and three-bedroom units. The One Water Street grounds will include two kitchen, billiard room, commercial quality fitness public green spaces, designed by landscape architect David Rubin at Land center, spa, business center, and a rooftop event Collective, one of which will have the effect of a promenade along Columbus space with exterior terrace. Private, deeded valet Boulevard. Together, the two public spaces will total about 11,600 SF, or parking will be provided. The building’s residential 20% of the site. Ten percent of the units will be reserved for lower-income entrance will face Spruce Street, while the 13,000 SF residents. The project also includes a green roof, 73 parking spaces, car-share of retail will be accessed via the current Broad Street spots, a bicycle storage room, gym, and meeting space for building residents. entrance. The project will be designed by Rafael Construction is expected to take 18 months. Viñoly Architects.

58. 810 ARCH STREET Developer: Project HOME and Philadelphia Chinatown Development Corporation Location: 810 Arch Street Size: 76,455 SF Residential Units: 94 Start Date: July 2014 Completion Date: November 2015 Investment: $24 Million Description: Sister Mary Scullion’s Project HOME and the Philadelphia Chinatown Development Corporation will construct a nine-story affordable housing project in Chinatown. The complex will provide 94 efficiency apartments for lower-income rental tenants ranging in age from seniors to children aging out of foster care. The building will seek LEED Silver certification and is designed by architects Kramer + Marks and will offer an underground rainwater collection system to manage runoff. For units with project-based vouchers through the Philadelphia Housing Authority, tenants will pay 30% of income. An additional 57 units will be affordable to those at or below 50% of income, and 15 units will be affordable to those at or below 20%. Rents are projected to be between $690 and $799 per month.

26 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 59. 1601 VINE STREET 60. 2400 SOUTH

Developer: Property Reserve, Inc. Location: 1601 Vine Street Size: 513,997 SF Developer: Toll Brothers Residential Units: 277 Location: 2400 South Street Start Date: Late 2014 Size: 235,583 SF Completion Date: 2017 Residential Units: 127 Investment: $120 Million Start Date: 2012 Description: The mixed-use development includes a Completion Date: Spring 2015 residential apartment tower located at 1601 Vine Street and a separate Meetinghouse for The Church of Jesus Description: The project consists of 68 townhouses and 59 Christ of Latter-day Saints at 17th and Vine Streets. The condos, as well as 2,266 SF of retail along 24th Street. The residential tower is a 32-story, new construction building development is near the Toll Brothers’ first Graduate Hospital- of approximately 489,997 SF and will consist of 264 rental area project, Naval Square. apartments, 13 rental townhomes, two levels of below-grade parking providing 238 spaces and 12,000 SF of ground-floor retail. Residential amenities include a swimming pool, fitness center, club room and business center. Robert A.M. Stern Architects of New York is the project designer, with BLT Architects of Philadelphia serving as associate architect.

61. 1213 WALNUT Developer: The Goldenberg Group & Hines Location: 1213 Walnut Street Size: 300,000 SF Residential Units: 322 Start Date: Q3 2015 Completion Date: Q3 2017 Investment: $100 Million+ Description: The Goldenberg Group and Hines are developing plans for a 26-story, multi-family high-rise at 12th and Walnut Streets, currently a surface parking lot. It will include 322 rental units and 7,300 SF of retail.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 27 ACKNOWLEDGEMENTS

INFORMATION PARTNERS PHOTOGRAPHY & RENDERINGS Aimco – Cindy Duffy, Patti Shwayder Aimco Alterra Property Group, LLC – Leo Addimando Alesker & Dundon Architects AQ Rittenhouse – Lee Senior Ballinger and Pelli Clark Pelli Architects Aquinas Realty – Len Poncia BLT Architects Baywood Hotels – Kurt Blorstad Bohlin Cywinski Jackson Brandywine Realty Trust – Paul Commito Brandywine Realty Trust Brickstone Realty – Mark Merlini Brickstone Realty Cashman & Associates – Laura Krebs Comcast Corporation Chestlen Development – Brook Lenfest Cope Linder Architects Children’s Hospital of Philadelphia – Jonathan J. Hood, Peter M. Grollman Coscia Moos Architects City of Philadelphia Department of Commerce– Dawn Summerville, Emily Giordano Daniel Cox for Alterra Property Group City of Philadelphia Department of Parks & Recreation – Mark Focht DAS Architects Commonwealth of Pennsylvania Department of General Services – Liz O’Reilly DBox for Norman Foster DAS Architects – Annette Walsh Delaware River Waterfront Corporation Delaware River Waterfront Corporation – Karen Thompson Dranoff Properties Dranoff Properties – Carl Dranoff, Sue Stauffer Drexel University Communications Drexel University – Nancy Trainer EwingCole EB Realty Management – Chris Cordaro FFKR Architects FringeArts – Carolyn Schlecker FlossBarber Gelfand Yardeni Real Estate Development & Management LP – Kat Sullivan Forest City Residential Gibbs Management – Andy Gibbs Gensler GLUCK + – Bethia Liu GLUCK+ Goldenberg Group – Adam Rosenzweig, Todd Malligan Hargreaves Associates and Redsquare International Financial Company – Odara Nash J. Fusco for Visit Philadelphia™ JKR Partners Architects – Mike Izzo J. Smith for Visit Philadelphia™ Keystone Property Group – Bill Glazer, Jennifer Cooperman Jacobs and Studio Agoos Lovera Kimmel Center – David Thiele James Ewing Photography Midwood Investment & Development – Michelle Goldman JKR Partners Architects MRP Realty – Kristian DeMeo KieranTimberlake Museum of the American Revolution – ZeeAnn Mason Kramer + Marks Architects National Real Estate Development – Daniel Killinger Moustafa Moustafa P&A Associates – Robert Shaw MV+A Architects Pearl Properties – James Pearlstein NC3D for Robert A.M. Stern Architects Philadelphia Chinatown Development Corporation – Sarah Yeung Pearl Properties Philadelphia Museum of Art – Shen Shellenberger Philadelphia Museum of Art Philadelphia Parking Authority – Richard D. Dickson, Jr. Philamedia for PMC Property Group PMC Property Group – Jonathan Stavin, Kate Groshong PMC Property Group Post Brothers – Matthew Pestronk PREIT PREIT – Haley Samsi, Heather Crowell Rafael Vinoly Associates Project HOME – Sister Mary Scullion, Matthew McCarter Robert A.M. Stern Architects Schiffman Consulting Corporation – Martin Schiffman Scannapieco Development Corporation Schuylkill River Development Corporation – Joseph R. Syrnick Schuylkill River Development Corporation Spg3 Architects – Brett Webber spg3 architects Stevens & Lee P.C. – Robert D. Lane, Jr. The Free Library of Philadelphia The Church of Jesus Christ of Latter-day Saints – Corinne Dougherty Toll Architecture The Franklin Institute – Stefanie Santo Varenhorst The Free Library of Philadelphia – Alix Gerz Voith and Mactavish Architects Toll Brothers – Shawn C. Frawley, Adam S. Lampl, Brian Emmons WRT

CCD STAFF Research & Writing: Casandra Dominguez, Manager of Business Retention

& Retail Attraction; Claire Summers, Marketing Assistant Writing & Editing: Linda Harris, Director of Communications & Publications Graphic Design: Abigail Saggi, Graphic Designer; Amy Yenchik, Graphic Designer

UPDATES/ERRATA

www.CenterCity.org/Developments

28 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org CENTER CITY PHILADELPHIA DEVELOPMENTS 2014-2018

Center City District & Central Philadelphia Development Corporation 660 Chestnut Street Philadelphia PA, 19106 215.440.5500