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Center City Philadelphia Developments 2014-2018

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Center City Philadelphia Developments 2014-2018 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 Cultural 358,147 SF | 2% Healthcare & Education 759,656 SF | 4% Public Space 772,962 SF | 4% Government & Non-profit Institutions 762,000 SF | 4% Residential 1,120,648 SF | 6% Residential/ Total SF: Mixed-use Hospitality 18,418,264 9,953,044 SF 1,240,207 SF | 7% 54% Retail 1,490,000 SF | 8% 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 K 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.
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