Center City Philadelphia Developments 2015–2019

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CENTER CITY PHILADELPHIA DEVELOPMENTS 2015–2019

CENTER CITY DISTRICT AND CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION INTRODUCTION 2

DEVELOPMENTS MAP 4

COMMERCIAL/MIXED-USE 6

CULTURAL 10

GOVERNMENT & NON-PROFIT INSTITUTIONS 11

HEALTHCARE & EDUCATION 12

HOSPITALITY 13

PUBLIC SPACE 17

RESIDENTIAL 20

RESIDENTIAL/MIXED-USE 25

RETAIL 43

ACKNOWLEDGMENTS 44

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG INTRODUCTION

Construction cranes are visible everywhere. Eleven major Since 2000, Center City’s population has increased 17%, as development projects, totaling almost $200 million, were com- millennials, empty-nesters, and families with children have pleted in 2015 between Fairmount and Washington Avenues, chosen to live near work and a broad range of dining, cultural, river to river. Another 42 projects of all types, totaling $5.2 and entertainment offerings. Currently, 4,185 units are under billion in new investment were under construction at the end of construction and scheduled for completion by 2018. Several December 2015, while 29 more, totaling $3 billion, have been thousand more units have been announced. announced. The combined effect of a growing residential population, in- Residential developments are setting the pace. Half of the creasing overnight visitation and steady job growth has spurred 82 projects counted in this report are residential/mixed-use; several large-scale retail projects, such as National Real Estate another 11 are strictly residential. Remaining projects include Development’s East Market project, scheduled for completion in hotels, commercial/mixed-use, public space improvements, 2017, and PREIT and Macerich’s redevelopment of The Gallery, retail, healthcare and education, government and non-profit, scheduled for completion in 2018. Almost 2.9 million square feet and cultural developments. All are categorized by type and are of retail is expected to be added with a majority located east of mapped on pages 4–5. Broad Street, where there is room to accommodate the larger floor plates that big-box retailers prefer. Still, the largest development in the city’s history is Liberty Property Trust’s $1.5 billion Comcast Innovation and Technology Center. The new tower, rising at 18th and Arch Streets, will add more than 1.3 million square feet of trophy office space downtown; all will be leased by Comcast. A much smaller cluster of creative office space is under construction east of Broad Street signaling a new interest in more flexible workspace in the rapidly improving East Market corridor.

Significant improvements in Pennsylvania Convention Center MAJOR PROJECTS COMPLETED IN 2015 management and well-targeted, successful advertising for lei- AND IN THE PIPELINE sure, convention and business travel have created more demand for downtown hotel rooms. Eleven hotels are under construction or are in the pipeline, including a new Four Seasons, W Hotel, $8.5 BILLION Element by Westin, Aloft, Cambria, and Fairfield Inn. In all, Cen- IN MAJOR DEVELOPMENTS ter City will add 2,772 new hotel rooms, pushing the downtown total over 13,000 rooms by 2019. 10,721 RESIDENTIAL UNITS MAJOR DEVELOPMENTS IN CENTER CITY BY TYPE AND SQUARE FOOTAGE 2,772 HOTEL ROOMS 62% RESIDENTIAL/MIXED USE 17,224,912 SF 13% COMMERCIAL/MIXED USE 3,529,476 SF 3,529,476 SF 7% HOSPITALITY 1,911,051 SF OF COMMERCIAL/MIXED-USE 6% RESIDENTIAL 1,796,454 SF 6% RETAIL 27.8 MILLION 2,860,139 SF 1,560,000 SF TOTAL SF 3% HEALTHCARE/EDUCATION OF NEW RETAIL* 759,656 SF PUBLIC SPACE 2% Source: Developments Database, Center City District 611,087 SF 1% CULTURAL Note: Several of the projects included on the map had not yet announced completion dates, development costs, or square 286,000 SF footage as of the end of Q4 2015. As a result, these figures are not included in the respective totals. GOVERNMENT & NON PROFIT *The total square footage for new retail includes the total square footage of developments categorized as “retail” proj- 0.3% ects, as well as any retail square footage in developments categorized as “residential/mixed-use,” 93,000 SF “commercial/mixed-use” and “hospitality” projects. Source: Developments Database, Center City District

2 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG INTRODUCTION

MAJOR DEVELOPMENTS IN CENTER CITY MAJOR DEVELOPMENTS IN CENTER CITY BY STATUS BY COMPLETION DATE

DEVELOPMENTS 14% COMPLETED 25 51% UNDER CONSTRUCTION 35% ANNOUNCED 20 82 15 TOTAL DEVELOPMENTS

11 23 24 12 39 Source: Developments Database, Center City District 0 2015 2016 2017 2018 2019 TBD

Source: Developments Database, Center City District

THE LARGEST DEVELOPMENT IN THE CITY'S HISTORY IS THE $1.5 BILLION COMCAST INNOVATION AND TECHNOLOGY CENTER, RISING AT 18TH AND ARCH STREETS.

DELIVERY OF RESIDENTIAL UNITS IN MAJOR DEVELOPMENTS IN CENTER CITY

RESIDENTIAL UNITS COMPLETED UNDER CONSTRUCTION ANNOUNCED 3,500

3,000

2,500 835 2,000

1,500

1,000

500 1,461

0 834 1,829 2,056 300 319 3,087 2015 2016 2017 2018 2019 TBD

Source: Developments Database, Center City District

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 3 GIRARD AVE

DEVELOPMENTSDEVELOPMENTS 54 74

AVE IRMOUNT DEVELOPMENTS IN FA CENTER CITY 71 10 28 31 1 CULTURAL 32 55 HOSPITALITY 50 24 RESIDENTIAL/MIXED-USE 59 80 40 12 20 COMMERCIAL/MIXED-USE VINE ST 11 73 64

T S 66 PUBLIC SPACE D 15

ROA

67 B 36 49 25 HEALTHCARE & EDUCATION 18 76 RESIDENTIAL 35 5 21 72 65 26 RETAIL 41 8 46 82 MARKET ST City Hall 47 43 GOVERNMENT & 23 68 2 4 NON-PROFIT INSTITUTIONS 30 58 6 45 62 60 7 44 16 33 3 14 Source: Development Database, 48 9 Center City District 63 56 70 75 61 81 77 37 17 19 29 22 69 27 51 PINE ST 52 39 38

78 53 13

WASHINGTON AVE 42 79 57

TASKER ST

WHILE HOUSING STILL DOMINATES, A BROAD RANGE OF OFFICE, HOTEL AND RETAIL DEVELOPMENTS ARE UNDERWAY ACROSS CENTER CITY.

4 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG GIRARD AVE

DEVELOPMENTS 54 74

AVE IRMOUNT DEVELOPMENTS IN FA COMMERCIAL/MIXED-USE 26. John F. Kennedy Plaza/ 65. 218 Arch Street 71 LOVE Park CENTER CITY 1. SoNo 66. One Water Street 27. Penn's Landing 10 28 2. Stock Exchange 67. One Franklin Tower 28. Spring Garden 31 Building Renovation 68. 2400 Market Street 1 Street Connector CULTURAL 32 3. The Hale Building 69. 1401 Spruce Street 55 4. The Steele Building 70. The Roosevelt Apartments HOSPITALITY 50 RESIDENTIAL 5. Comcast Innovation 71. Transatlantic 24 29. One Riverside RESIDENTIAL/MIXED-USE 59 80 40 and Technology Center 72. Francis House of Peace 12 20 30. The Residences at VINE ST 6. The Bourse COMMERCIAL/MIXED-USE 11 73 64 Two Liberty Place 73. 1601 Vine Street

T S 66 7. 1618-22 Chestnut D 74. 1300 Fairmount PUBLIC SPACE 15 31. Mural Arts Lofts ROA 8. PPA 8th & Filbert Garage 67 B 36 49 25 32. Museum Towers II 75. 1911 Walnut Street HEALTHCARE & EDUCATION 18 33. The Griffin 76. The National 76 CULTURAL RESIDENTIAL 35 5 21 72 65 34. BridgeView 77. 1213 Walnut 26 9. Museum of the 78. 2400 South RETAIL 41 8 American Revolution 35. 1900 Arch Expansion 46 82 MARKET ST City Hall 47 43 36. 401 Race Street 79. 1001 South Broad GOVERNMENT & 68 23 10. Philadelphia Museum 2 4 80. 900-934 Callowhill NON-PROFIT INSTITUTIONS 30 58 6 of Art Expansion 37. 500 Walnut 45 62 60 7 44 16 33 3 14 Source: Development Database, 48 9 38. 410 at Society Hill Center City District GOVERNMENT & RETAIL 63 56 39. Waverly Court 70 75 61 81 77 37 NON-PROFIT INSTITUTIONS 81. 1436-28 Walnut 17 19 11. Philadelphia Pennsylvania 82. Fashion Outlets 29 RESIDENTIAL/MIXED-USE 22 Mormon Temple of Philadelphia 69 27 40. Park Towne Place 51 12. The Free Library of 41. The Sterling PINE ST 52 Philadelphia Parkway 39 38 Central Renovation 42. Lincoln Square 43. The Shirt Corner 78 53 HEALTHCARE & EDUCATION 44. Avenir 13 13. Children's Hospital of 45. AQ Rittenhouse Philadelphia - Schuylkill 46. 1919 Market Avenue, Phase I 47. Mellon Independence 14. Thomas R. Kline Institute 34 Center (MIC) Tower of Trial Advocacy 48. 1112-1128 Chestnut Street 79 WASHINGTON AVE 42 HOSPITALITY 49. Bridge 57 50. Renaissance Plaza 15. Marriott AC 51. SLS LUX Philadelphia 16. W Hotel and Element Hotel & Residences by Westin 52. The Hyde 17. Hyatt Centric 53. Royal Theater 18. The Logan 54. Divine Lorraine 19. Cambria Hotel & Suites 55. Rodin Square 20. Kimpton Hotel 56. The Curtis Center TASKER ST 21. Aloft Hotel 57. 9th and Washington 22. Fairfield Inn and Suites by Marriott 58. East Market, Phase I 59. Hanover North Broad PUBLIC SPACE 60. 1700 Chestnut

23. June 5th Memorial Park 61. The Beacon 24. Viaduct Rail Park, Phase I 62. 19th + Chestnut 25. Race Street Connector, 63. The Latham Phase II 64. Eastern Tower Community Center

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 5 COMMERCIAL/MIXED-USE

1. SoNo DEVELOPER: Alliance Partners HSP, LLC LOCATION: 456 North 5th Street SIZE: 225,000 sf START DATE: Q3/Q4 2016 COMPLETION DATE: Q2/Q3 2017 STATUS: Announced INVESTMENT: $30 Million+ DESCRIPTION: Alliance Partners HSP will be converting the former

Alliance Partners HSP, LLC Destination Maternity warehouse, located between Philadelphia’s downtown core and Northern Liberties’ millennial workforce, into a mixed-use project. Called SoNo, this project will likely feature a mix of office, retail and residential uses consistent with the new CMX zoning overlay that covers 2nd to 6th Streets and Spring Garden to Callowhill Streets.

2. STOCK EXCHANGE BUILDING RENOVATION DEVELOPER: Brandywine Realty Trust LOCATION: 1900 Market Street SIZE: 456,922 sf START DATE: July 2014 COMPLETION DATE: January 2016 STATUS: Completed INVESTMENT: $21 Million DESCRIPTION: Brandywine Realty Trust completed renovating the interior and exterior of 1900 Market Street, the former Stock Exchange Building, in January 2016. The renovation brings the office building up to Class A standards and includes open-floor

plans with collaborative work and meeting areas. It was an- Granum Associates nounced in April 2015 that Independence Blue Cross will lease a significant portion of the renovated building, taking 112,000 sf on two floors. The building has approximately 25,000 sf of retail on the ground floor and will include a 7,000-sf Wawa, the company’s largest.

6 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG COMMERCIAL/MIXED-USE

3. THE HALE BUILDING DEVELOPER: Brickstone Realty LOCATION: 1326 Chestnut Street SIZE: 47,940 sf START DATE: October 2015 COMPLETION DATE: December 2016 STATUS: Under Construction INVESTMENT: $20 Million DESCRIPTION: Brickstone Realty purchased the historic Hale Building at Chest- nut and Juniper Streets in September 2015 for $4.7 million. Plans include adding creative office space on floors three through eight and two retail spaces totaling 10,205 sf – a multi-story restaurant on Chestnut Street and café on Sansom Street. The building will include a roof deck divided into multiple spaces to be shared by office users.

JKRP Architects

4. THE STEELE BUILDING DEVELOPER: Brickstone Realty LOCATION: 15 South 11th Street SIZE: 36,000 sf START DATE: 2015 COMPLETION DATE: December 2016 STATUS: Under Construction INVESTMENT: $14 Million DESCRIPTION: Brickstone is currently converting the Steele Building into a mixed-use property that will include four floors of creative office space (23,255 sf) and a bi-level restaurant/retail space (8,500 sf). The project will include a full façade restoration and roof-top deck for office space.

DAS Architects

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 7 COMMERCIAL/MIXED-USE

5. COMCAST INNOVATION AND TECHNOLOGY CENTER DEVELOPER: Liberty Property Trust OWNER: Comcast Corporation and Liberty Property Trust LOCATION: 1800 Arch Street SIZE: 1,803,000 sf HOTEL ROOMS: 222 START DATE: Summer 2014 COMPLETION DATE: Q1 2018 STATUS: Under Construction INVESTMENT: $1.5 Billion DESCRIPTION: The 60-story Comcast Innovation and 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, with interiors designed by Gensler, the building will provide office space for Comcast and house the 222-room Four Seasons Hotel. The project will add 1,330,000 sf of rentable office space, 230,112 sf of hotel space, and 2,682 sf of retail space. Comcast plans to relocate NBC 10 and Telemundo from Bala Cynwyd to the new office tower in Center City, adding a media center in the heart of the downtown, as well as housing a state-of-the-art incubator space for local technology start-ups.

Comcast

6. THE BOURSE DEVELOPER: MRP Realty LOCATION: 400 Market Street, 325 Chestnut Street, 111 South Independence Mall East and 400 Ranstead Street SIZE: 702,014 sf START DATE: TBD COMPLETION DATE: TBD STATUS: Announced INVESTMENT: $40 Million DESCRIPTION: Washington, D.C.-based MRP Realty purchased Kaiserman’s Old City portfolio that includes three office buildings and a garage with movie theater for $110 million. Preliminary plans include upgrades to the Class B office space, including façade renovations, new common areas and amenity spaces, as well as repositioning of the ground-floor retail at the Bourse and garage where the movie theater is located.

8 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG COMMERCIAL/MIXED-USE

7. 1618-22 CHESTNUT DEVELOPER: Pearl Properties LOCATION: 1618-22 Chestnut Street SIZE: 100,000 sf START DATE: Q4 2015 COMPLETION DATE: Summer 2016 STATUS: Under Construction DESCRIPTION: Pearl Properties purchased the Art Deco building from the Art Institute of Philadelphia in August 2015. The project, currently under construction, will include an Old Navy flagship on three levels and 75,000 sf of office space on the upper floors.

Pearl Properties

8. PHILADELPHIA PARKING AUTHORITY’S 8TH & FILBERT GARAGE DEVELOPER: Philadelphia Parking Authority (PPA) LOCATION: 801 Filbert Street SIZE: 158,600 sf START DATE: 2013 COMPLETION DATE: Winter 2016 STATUS: Under Construction (substantially complete) INVESTMENT: $32 Million DESCRIPTION: This project turns the 8th and Filbert garage into a gateway between Chinatown and Market Street by improving the streetscape. Designed by Wallace Roberts & Todd (WRT), it includes equipping the parking garage with new façades, green elements, new interior paint and lights, as well as LED lights hanging over 8th Street. Retail spaces under the garage will be revamped into a retail corridor. 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. At the end of 2015, the project was substantially completed.

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 9 CULTURAL

9. MUSEUM OF THE AMERICAN REVOLUTION DEVELOPER: Museum of the American Revolution LOCATION: Southeast corner of 3rd and Chestnut Streets SIZE: 117,000 sf START DATE: 2014 COMPLETION DATE: 2016 STATUS: Under Construction 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 Construc- tion demolished the old Bicentennial Visitor Center in Spring 2014, and construction began in the fall. The NC3D for Robert A.M. Stern Architects development of the building and the museum’s exhibits are expected to generate a one-time economic impact of $135.9 million in direct and indirect spending. The museum plans to open to the public in spring 2017.

10. PHILADELPHIA MUSEUM OF ART EXPANSION DEVELOPER: Philadelphia Museum of Art LOCATION: 2600 Benjamin Franklin Parkway SIZE: 169,000 sf START DATE: TBD COMPLETION DATE: TBD STATUS: Announced Philadelphia Museum of Art INVESTMENT: $150 Million-$160 Million (Phase I) 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 visitor entry and movement 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, allowing for pieces of the project to be built at different times as funding becomes available. The project cost of the multi- phase project will total $350 million.

10 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG GOVERNMENT & NON-PROFIT INSTITUTIONS

11. PHILADELPHIA PENNSYLVANIA MORMON TEMPLE DEVELOPER: Church of Jesus Christ of the Latter-day Saints LOCATION: 1739 Vine Street SIZE: 53,000 sf START DATE: 2013 COMPLETION DATE: 2016 STATUS: Under Construction INVESTMENT: $70 Million DESCRIPTION: The first Mormon Temple in Pennsylvania, designed by Perkins+Will, is being built on what used to be a 1.6-acre surface parking lot. The temple will include stained glass along the length of the building, a landscaped plaza with reflecting pool and public gardens, underground parking, and a 200-foot double spire meant to resemble that of Independence Hall’s. Additionally, a separate Meetinghouse for the Church of Jesus

Christ of Latter-day Saints is being built at 17th and Vine FFKR Architects Streets.

12. THE FREE LIBRARY OF PHILADELPHIA PARKWAY CENTRAL RENOVATION DEVELOPER: The Free Library of Philadelphia LOCATION: 1901 Vine Street SIZE: 40,000 sf START DATE: Fall 2016 COMPLETION DATE: Winter 2018 STATUS: Announced INVESTMENT: $35 Million

The Free Library of Philadelphia

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 was dedicated to the creation of several new public spaces at the Parkway Central Library designed by internationally acclaimed architect Moshe Safdie—The Common, the Business Resource and Innovation Center (BRIC), the Marie and Joseph Field Teen Center, and an expanded grand staircase connecting old spaces with new. The Common will serve as an active community space where individuals can gather to create, collaborate, and share. The BRIC will offer incubator space for new projects and assist entrepreneurs with realizing their ideas. The Field Teen Center will allow the Library to provide enhanced and expanded teen programming. With a budgeted project cost of $35 million, the Free Library has to raise an additional $13 million to reach its goal and complete this phase of renovations at the Parkway Central Library.

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 11 HEALTHCARE & EDUCATION

13. CHILDREN’S HOSPITAL OF PHILADELPHIA - SCHUYLKILL AVENUE, PHASE I DEVELOPER: Children’s Hospital of Philadelphia LOCATION: 2716 South Street SIZE: 735,656 sf START DATE: Summer 2014 COMPLETION DATE: Spring 2017 STATUS: Under Construction INVESTMENT: $250 Million to $500 Million (media estimates)

Ballinger and Pelli Clark Pelli Architects

DESCRIPTION: As the first phase of a four-phase master plan, the project includes the construction of a new, 21-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 con- nection to the Schuylkill River Trail. CHOP is negotiating with CSX for a promenade over the tracks and a bridge to Schuylkill Banks.

14. THOMAS R. KLINE INSTITUTE OF TRIAL ADVOCACY DEVELOPER: Drexel University LOCATION: 1200-1202 Chestnut Street SIZE: 24,000 sf START DATE: Fall 2015 COMPLETION DATE: 2016 STATUS: Under Construction INVESTMENT: $14.8 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, he donated the building to Drexel as part of a $50 million gift to its Law School. The building will house the Thomas R. Kline Institute of Trial Advocacy and will include programming Drexel University Communications for law students and the LLM program.

12 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG HOSPITALITY

15. MARRIOTT AC DEVELOPER: Baywood Hotels LOCATION: 228-38 North 13th Street HOTEL ROOMS: 150 START DATE: TBD COMPLETION DATE: TBD STATUS: Announced 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 prox- imity to the Pennsylvania Convention Center, and is proposing the addition of a 12-story hotel on top of the existing two-story structure. The hotel flag will be a Marriott AC, Marriott’s Euro- pean brand, the first in Philadelphia and one of the first in the spg3 architects United States. The proposed hotel will include meeting rooms, a fitness center and pool, and will have 12 guest rooms per floor. The building is proposed LEED Gold and will include a green roof.

16. W HOTEL AND ELEMENT BY WESTIN DEVELOPER: Chestlen Development LOCATION: 1441 Chestnut Street SIZE: 770,607 sf HOTEL ROOMS: 755 START DATE: March 2015 COMPLETION DATE: Spring 2018 STATUS: Under Construction INVESTMENT: $359 Million 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. Each hotel will have a separate entrance and lobby. The W will have an entrance on Chestnut Street, a 150-seat, ground-floor destination restaurant, 7,000-sf outdoor terrace with year- round outdoor pool and destination bar, a spa and gym, and 45,000 sf of meeting and event space. The ground floor will provide elevator access to the Element’s main lobby on the second floor. The Element will have a breakfast and lounge area, fitness center, branded meeting space, and will seek LEED certification. 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. Cope Linder

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 13 HOSPITALITY

17. HYATT CENTRIC DEVELOPER: Clemens Construction LOCATION: 1602-34 Chancellor Street SIZE: 219,600 sf HOTEL ROOM: 310 START DATE: TBD COMPLETION DATE: TBD STATUS: Announced INVESTMENT: $125 Million DESCRIPTION: Designed by DAS Architects, the $125 million property will feature high-end amenities, sustainable building materials, 310 guest rooms and a penthouse floor 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.

18. THE LOGAN DEVELOPER: Host Hotels & Resorts and Sage Hospitality LOCATION: One Logan Square SIZE: 329,844 sf HOTEL ROOMS: 391 START DATE: June 2015 COMPLETION DATE: December 2015 STATUS: Completed INVESTMENT: $28 Million DESCRIPTION: Sage Hospitality took over operations of the former Four Seasons Hotel at Logan Square in June 2015. The renovated property reopened at the end of 2015 as a 4.5-star hotel, The

© 2016 Curio Logan. The $28 million renovation included extensive improvements to the ballroom, meeting space, and fitness center, as well as an added roof-top lounge, high-end coffee bar, and a new restaurant called The Urban Farmer. The Logan is a Curio, A Collection by Hilton Hotel, and includes 391 rooms, 64 of which are suites.

14 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG HOSPITALITY

19. CAMBRIA HOTEL & SUITES DEVELOPER: Pearl Properties LOCATION: 219-225 South Broad Street SIZE: 176,000 sf HOTEL ROOMS: 220 START DATE: 2015 COMPLETION DATE: 2017 STATUS: Under Construction DESCRIPTION: Choice Hotels International announced in November that they had signed an agreement with franchise partner Pearl Properties to develop a new Cambria Hotel & Suites in Center City. The 15-story hotel will be located on the northeast corner of Broad and Locust Streets, along the Avenue of the Arts, and will add 20,000 sf of retail. The hotel will be owned by Pearl Properties and managed by Concord Hospitality, one of the nation’s leading lodging management companies.

Pearl Properties

20. KIMPTON HOTEL DEVELOPER: Peebles Corp. and P&A Associates LOCATION: 1801 Vine Street SIZE: 250,000 sf HOTEL ROOMS: 199 START DATE: December 2016 COMPLETION DATE: June 2018 STATUS: Announced INVESTMENT: $90 Million

DESCRIPTION: The former Family Court building will be redeveloped Gensler 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.

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 15 HOSPITALITY

21. ALOFT HOTEL DEVELOPER: Realen and HRI Properties LOCATION: 101 North Broad Street SIZE: 115,000 sf HOTEL ROOMS: 179 START DATE: 2015 COMPLETION DATE: 2017 STATUS: Under Construction DESCRIPTION: Realen has acquired the historically certified 21-story Liberty Title and Trust Building and together in a joint venture with HRI Proper- ties of New Orleans is in the process of restoring the building and converting it into a 179-key Aloft Hotel by Starwood. The building is situated Realen adjacent to and will have direct access to the main entrance lobby of the expanded Pennsylvania Convention Center.

22. FAIRFIELD INN AND SUITES BY MARRIOTT DEVELOPER: The Wankawala Organization LOCATION: 261 South 13th Street SIZE: 50,000 sf HOTEL ROOMS: 118 START DATE: 2015 COMPLETION DATE: Q3 2016 STATUS: Under Construction DESCRIPTION: The Wankawala Organization purchased the Parker-Spruce Hotel on the corner of 13th and Spruce Streets and plans to renovate the property into a Fairfield Inn and Suites by Marriott. Marriott has waived the prototype requirements, giving the project a custom buildout and boutique-like feel.The new Fairfield Inn and Suites, designed by SgRA Architects, will have a small meeting room, fitness facility and corner restaurant space that serves as the breakfast area, and switches over to a full-service restaurant, possibly with outdoor dining, in the evening.

16 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG PUBLIC SPACE

23. JUNE 5TH MEMORIAL PARK DEVELOPER: June 5th Memorial Park Committee LOCATION: 2140 Market Street SIZE: 3,125 sf START DATE: April 2016 COMPLETION DATE: November 2016 STATUS: Under Construction INVESTMENT: $1.3 Million DESCRIPTION: On June 5, 2013, a bungled building demolition collapsed a party wall, destroying a Salvation Army Thrift Store at 22nd and Market

Streets, killing six people. This preventable trag- Scott Aker, AIA edy will be perpetually memorialized through the creation of a memorial park on the site that will provide a contemplative respite for visitors while preserving the memory of those lost. With a sensitive design that includes a compelling, memorial public sculpture, landscaping, interpretive information, innovative lighting and the highest quality of materials, this public park will become part of the Fairmount Park system upon completion.

24. VIADUCT RAIL PARK, PHASE I DEVELOPER: Center City District LOCATION: Callowhill Street to Noble Street SIZE: 26,000 sf START DATE: 2016 COMPLETION DATE: 2017 STATUS: Announced INVESTMENT: $9.6 Million DESCRIPTION: The Viaduct Rail Park project seeks to transform the abandoned railway that slices through the area between Chinatown and Fairmount Avenue into a public park. The Center City District was drawn to the project because of the success of the High Line elevated park in New York City, and saw an opportunity to add residential 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. Phase I of the project will involve the transformation of a 26,000-sf section of the Viaduct known as the SEPTA Spur, and will include landscaping, adding stairs that connect the railway to the street level, waterproofing the viaduct’s leaking under- side, and environmental remediation.

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 17 PUBLIC SPACE

25. RACE STREET CONNECTOR, PHASE II DEVELOPER: Central Delaware Waterfront Corporation LOCATION: North side of Race Street between 2nd Street and Columbus Boulevard START DATE: 2016 COMPLETION DATE: 2016 STATUS: Announced INVESTMENT: $1 Million DESCRIPTION: This project will improve pedestrian and bicycle access to the Race Street Pier from Front and Race Streets. New lighting, landscap- Delaware River Waterfront Corporation ing 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 2016.

26. JOHN F. KENNEDY PLAZA/LOVE PARK DEVELOPER: City of Philadelphia/InterPark LOCATION: 16th Street and John F. Kennedy Boulevard SIZE: 102,802 sf START DATE: February 2016 COMPLETION DATE: Spring 2017 STATUS: Under Construction INVESTMENT: $16.5 Million DESCRIPTION: In February 2016, the City of Philadelphia broke ground on a project to rehabilitate John F. Kenne- dy Plaza, known as LOVE Park. The new design will re- place the park’s clunky hardscaping with gently sloping lawns and colorful flower beds. The cylindrical building that currently houses an information center will become KieranTimberlake a food and beverage operation, while the large central fountain will shrink slightly and will be accompanied by a “Bird’s Nest” of smaller criss-crossing jets. Robert Indiana’s famous LOVE sculpture will remain, and be resituated to take advantage of optimal sightlines along the Benjamin Franklin Parkway.

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27. PENN’S LANDING DEVELOPER: Delaware River 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 STATUS: Announced INVESTMENT: $250 Million

Hargreaves Associates and Redsquare

DESCRIPTION: An 11-acre park will stretch from Front Street to the Delaware River, capping I-95 and engi- neered 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. By creating this public amenity, the $250 million investment will spur development (an estimated $800 million to $1 billion), creating a mixed-use residential neighborhood. There will be low-rise residential development with mixed uses on the ground floor starting along the middle of the boat basin, and mid-rise residential development near the rebranded Hilton Hotel. The pier at the end of the boat basin will host residential and commercial development, with the very end reserved as public space.

28. SPRING GARDEN STREET CONNECTOR DEVELOPER: Delaware River Waterfront Corporation LOCATION: I-95 Overpass at Spring Garden Street START DATE: 2015 COMPLETION DATE: 2016 STATUS: Under Construction INVESTMENT: $2.5 Million

Delaware River Waterfront Corporation

DESCRIPTION: As part of its connector street program, the Delaware River Waterfront Corporation is currently working with RBA group to design streetscape improvements to Spring Garden Street between Columbus Boulevard/Delaware Avenue and 2nd Street, including a new lighting and public art installation under the I-95 overpass and Spring Garden transit stop. The streetscape improvements were completed in Fall 2015 and the underpass lighting and artistic screens will be installed in Winter 2016. The artistic lighting and screens were designed by Cloud Gehshan Associates and The Lighting Practice and fabricated by Urban Sign. This project is intended to improve pedestrian and bike connections from Northern Liberties to the riverfront, increase usage of public transportation, and ultimately connect to the waterfront trail.

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29. ONE RIVERSIDE DEVELOPER: Dranoff Properties LOCATION: 210-20 South 25th Street SIZE: 167,610 sf RESIDENTIAL UNITS: 82 START DATE: May 2015 COMPLETION DATE: August 2017 STATUS: Under Construction INVESTMENT: $90 Million DESCRIPTION: Located at the intersection of 25th and Locust Streets, at the entrance to Schuylkill River Park, the high-rise will offer views of University City, the river, and the downtown skyline. The new 22-story glass 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 Dranoff Properties 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 con- do building started since the financial crisis derailed the 2004-08 construction boom.

30. THE RESIDENCES AT TWO LIBERTY PLACE DEVELOPER: Dranoff Properties and iStar Financial, Inc. LOCATION: 1601 Chestnut Street SIZE: 116,600 sf RESIDENTIAL UNITS: 73 START DATE: March 2015 COMPLETION DATE: March 2016 STATUS: Completed INVESTMENT: $48 Million DESCRIPTION: iStar Financial completed the remaining portion of the 58-story skyscraper, Two Liberty Place. Dranoff Properties They have partnered with Dranoff Properties and converted the space into 73 luxury condominiums on floors 48-57. The sales center opened in March 2015 on the 44th floor with completely redesigned residential units. An upgraded lobby, street entrance, and amenities were also included.

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31. MURAL ARTS LOFTS DEVELOPER: EB Realty Management Corporation LOCATION: 523 North Broad Street SIZE: 72,000 sf RESIDENTIAL UNITS: 56 START DATE: February 2015 COMPLETION DATE: December 2015 STATUS: Completed INVESTMENT: $16.2 Million

Moustafa Moustafa

DESCRIPTION: Purchased by Eric Blumenfeld’s EB Realty Management Corporation in 2012, the former Thaddeus Stevens School was redeveloped into spacious boutique-style lofts. The building on the corner of North Broad and Spring Garden Streets includes the “Common Threads” mural on its west-facing façade. The project incorporated existing elements found in the school into the residential conversion, including existing chalkboards and oak cabine- try from the classrooms. The project team included architect Richard Sauder, engineer David Chou and construction company Domus.

32. MUSEUM TOWERS II DEVELOPER: Forest City Residential Group LOCATION: 1801 Buttonwood Street SIZE: 434,000 sf RESIDENTIAL UNITS: 286 START DATE: 2015 COMPLETION DATE: 2016 STATUS: Under Construction INVESTMENT: $110 Million DESCRIPTION: The existing Museum Towers residential complex is set to 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. Perkins Eastman Architects

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33. THE GRIFFIN DEVELOPER: MRP Residential and Principal Real Estate Investors LOCATION: 1346 Chestnut Street SIZE: 209,095 sf RESIDENTIAL UNITS: 217 START DATE: Q4 2014 COMPLETION DATE: 2016 STATUS: Under Construction DESCRIPTION: MRP Residential and Principal Real Estate Investors acquired the property for a reported $33 million in February 2014 and are redeveloping the property while maintaining the existing façade and structural systems. Upgrades will include a new lobby, fitness center, theater room, interior landscaped courtyard, clubroom, roof deck, and renovated elevator cabs. This is the Washington, D.C.-based company’s first acquisition in the Center City market.

JKR Partners

34. BRIDGEVIEW DEVELOPER: National Realty Investment Advisors LOCATION: 787 Swanson Street SIZE: 171,000 sf RESIDENTIAL UNITS: 75 START DATE: Fall 2014 COMPLETION DATE: 2016 STATUS: Under Construction DESCRIPTION: National Realty Investment Advisors is developing a 75-townhome development in Queen Village, where the I-95 Washington Avenue off-ramp meets Columbus Boulevard. Each three-bedroom, three-bath home will be 1,800 square feet – three stories on a 16-by-45-foot footprint. Each will also have its own rooftop deck – the sights from which inspired the name, BridgeView. The development is designed by JKR Partners of JRKP Architects Philadelphia.

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35. 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 STATUS: Completed INVESTMENT: $15 Million

PMC Property Group

DESCRIPTION: Given the success of 1900 Arch, the developer added a 55-unit expansion on the building’s west side that runs parallel to the existing structure, from Arch to Cuthbert. The addition brings the complex’s total unit count to 303. Designed by Varenhorst of Philadelphia, it includes a private courtyard on the first level, as well as a green roof and other sustainable features.

36. 401 RACE STREET DEVELOPER: Priderock Capital Partners, LLC LOCATION: 401 Race Street SIZE: 193,589 sf RESIDENTIAL UNITS: 216 START DATE: Q1 2016 COMPLETION DATE: 2018 STATUS: Announced DESCRIPTION: Priderock Capital Partners, LLC is planning to construct a new 193,589 sf residential development in Old City. The project, which is within walking distance of Franklin Square and the many retail and cultural attractions in Old City, will BartonPartners add 216 apartments to the area. It will also include two interior courtyards, 144 parking spaces in an underground parking lot, and an additional 40 in a surface parking lot.

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37. 500 WALNUT DEVELOPER: Scannapieco Development Corporation LOCATION: 500 Walnut Street SIZE: 178,000 sf RESIDENTIAL UNITS: 38 START DATE: March 2015 COMPLETION DATE: 2017 STATUS: Under Construction INVESTMENT: $174 Million DESCRIPTION: The 26-story “glass-needle” tower overlooking Independence Hall is designed by Cecil Baker + Associates and built on an 18,155-sf site that has been vacant for more than a decade. The amenity-rich building will have 38 condominiums and offer everything from a

Scannapieco Development Corporation multi-level, glass-enclosed fitness center to a large outdoor terrace overlooking Independence National Historical Park. It will also include a 90-space, underground, fully-automated parking system that stores and retrieves vehicles in less than 90 seconds.

JRKP Architects

38. 410 AT SOCIETY HILL 39. WAVERLY COURT DEVELOPER: Toll Brothers DEVELOPER: Yess Properties LOCATION: 410 South Front Street LOCATION: 412 South 13th Street SIZE: 151,560 sf SIZE: 46,000 sf RESIDENTIAL UNITS: 55 RESIDENTIAL UNITS: 61 START DATE: 2013 START DATE: April 2015 COMPLETION DATE: Fall 2015 COMPLETION DATE: 2016 STATUS: Completed STATUS: Under Construction DESCRIPTION: Located at the former New Market INVESTMENT: $2 Million site on the eastern hem of Headhouse Square and Front Street, the project includes 55 luxury DESCRIPTION: JKRP Architects is designing a six-story building on a former condominiums ranging from one to four bed- surface parking lot next to the existing Waverly Court building. The existing rooms. The building also includes a courtyard, building will gain a two-story addition. The building will house 61 apart- rooftop terrace, and 110 parking spaces. ments, 6 parking spaces for cars and 38 parking spaces for bicycles.

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40. PARK TOWNE PLACE DEVELOPER: Aimco LOCATION: 2200 Benjamin Franklin Parkway SIZE: 1,179,000 sf RESIDENTIAL UNITS: 973 START DATE: 2013 COMPLETION DATE: 2018 STATUS: Under Construction INVESTMENT: $200 Million Aimco 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.

BLT Architects Aimco 41. THE STERLING 42. LINCOLN SQUARE DEVELOPER: Aimco DEVELOPER: Alterra Property and MIS Capital LOCATION: 1815 John F. Kennedy Boulevard LOCATION: Northwest corner of Broad Street and Washington SIZE: 839,000 sf Avenue RESIDENTIAL UNITS: 550 SIZE: 450,000 sf START DATE: 2014 RESIDENTIAL UNITS: 356 COMPLETION DATE: Q1 2017 START DATE: January 2017 STATUS: Under Construction COMPLETION DATE: 2018 INVESTMENT: $75 Million STATUS: Announced INVESTMENT: $130 Million+ DESCRIPTION: This 19-story, mid-century modern tower has 550 apartments, 23,000 sf of retail space and 93,000 sf of office DESCRIPTION: The now-vacant lot at the northwest corner of space. Residential units will be totally gutted and refurbished. Broad and Washington Streets will be developed into a A roof-top pool and sundeck will be renovated and a fitness mixed-use project consisting of 356 apartments and 72,000 facility and three-season space will be created. The ground- sf – 75,000 sf of retail with approximately 350 dedicated level retail space is being repositioned with new tenants, uses, parking spaces. and storefronts.

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43. THE SHIRT CORNER DEVELOPER: Alterra Property Group LOCATION: 259 Market Street SIZE: 75,000 sf RESIDENTIAL UNITS: 59 START DATE: 2014 COMPLETION DATE: Fall 2015 STATUS: Completed INVESTMENT: $23 Million FlossBarber

44. AVENIR

Daniel Jackson DEVELOPER: Alterra Property Group and The Scully Company LOCATION: 1515 Chestnut Street DESCRIPTION: Alterra Property Group assembled 10 properties SIZE: 150,000 sf on the corner of North 3rd and Market Streets, where the famous “Shirt Corner” was once located. The existing buildings RESIDENTIAL UNITS: 180 could not be saved because of structural degradation and thus START DATE: Q2 2014 the entire site was demolished. Today there stands a four- to COMPLETION DATE: Q3 2015 five-story, 75,000-sf building comprising 59 apartments, a CVS and Snap Kitchen on the ground floor, and parking in the rear STATUS: Completed off Church Street. INVESTMENT: $60 Million DESCRIPTION: The project entailed the redevelopment of a historic Class B office building into 180 Class A apartments and 7,500 sf of enhanced ground-floor retail. Forty-five of the units are micro units under 350 sf.

45. AQ RITTENHOUSE DEVELOPER: Aquinas Realty Partners LOCATION: 2021 Chestnut Street SIZE: 79,046 sf RESIDENTIAL UNITS: 110 START DATE: 2014 COMPLETION DATE: 2015 STATUS: Completed INVESTMENT: $32.7 Million DESCRIPTION: Aquinas Realty Partners purchased the vacant building from the Philadelphia Redevelopment Authority in 2012. Designed by BLT Architects, the 12-story building replaced an existing structure, which was demolished, with 110 apartment units, 4,834 sf of ground-floor retail space, an interior courtyard, bicycle storage, and 9,600 sf of expansion space for the Freire Charter School, a high school that occupies the building next door. In summer 2015, the newly constructed property was Jeffrey Totaro purchased for $51.1 million by LaSalle Investment Management, a Chicago-based investment manager.

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46. 1919 MARKET DEVELOPER: Brandywine Realty Trust and LCOR LOCATION: 1919 Market Street SIZE: 455,000 sf RESIDENTIAL UNITS: 321 START DATE: Q4 2014 COMPLETION DATE: Q2 2016 STATUS: Under Construction INVESTMENT: $148 Million DESCRIPTION: Designed by BartonPartners, this new mixed-use tower will be 332 feet tall and include 321 upscale apartments, 215 parking spaces, 108 bike storage spaces, and 24,000 sf of office and retail space. The 29-story tower on the corner of Market and 20th Streets 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, demonstra- tion 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.

Brandywine Realty Trust

47. MELLON INDEPENDENCE CENTER (MIC) TOWER DEVELOPER: Brickstone Realty LOCATION: 701 Market Street SIZE: 377,321 sf RESIDENTIAL UNITS: 342 START DATE: TBD COMPLETION DATE: TBD STATUS: Announced 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 7th and 8th 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 Market Street view. A new basement and lobby will provide the residential component with an entrance. The ground floor will feature new retail and the first five floors Brickstone Realty above will be converted for office use.

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48. 1112-1128 CHESTNUT STREET DEVELOPER: Brickstone Realty LOCATION: 1112-1128 Chestnut Street SIZE: 192,000 sf RESIDENTIAL UNITS: 112 START DATE: Q4 2013 COMPLETION DATE: Spring/Summer 2016 STATUS: Under Construction

Brickstone Realty 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 retail and residential units; 1108-1110 Chestnut, a 16,920-sf building that will include 8,000 sf of retail and office space on floors two through five; and a parking garage at 12th and Sansom Streets to be converted into a large, mixed-use project in the future. Target will occupy 19,000 sf of space on Chestnut Street, along with a 14,000-sf state liquor store.

49. BRIDGE DEVELOPER: Brown Hill Development LOCATION: 205 Race Street SIZE: 169,900 sf RESIDENTIAL UNITS: 146 START DATE: August 2015 COMPLETION DATE: Q1 2017 STATUS: Under Construction INVESTMENT: $65 Million DESCRIPTION: Designed by GLUCK+ in New York, the mixed-use apartment complex on the long-vacant corner of 2nd and Race Streets will include 146 rental units, 28 parking spaces, 100 bike parking spaces, and 14,000 sf of commercial space on the ground floor. The building will be 51 feet tall along Race Street and rise to just over 187 feet along 2nd Street. The building is on target to be the first LEED Gold residential high-rise in Cen- ter City. The apartments will be a mix of studios and one- and two-bedroom units. The developers plan to claim a bonus for mixed-income housing, so some of the units will be affordable to individuals making 80% of Area Median Income. Courtesy of GLUCK+

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50. RENAISSANCE PLAZA DEVELOPER: Carl Marks & Co. LOCATION: 400 North Columbus Boulevard SIZE: 1,900,000 sf RESIDENTIAL UNITS: 1,358 START DATE: 2016 COMPLETION DATE: TBD STATUS: Announced Alesker & Dundon Architects INVESTMENT: $800 Million DESCRIPTION: Carl Marks & Co. is developing a large residential project, Renaissance Plaza, on 5.3 acres that front the Delaware River at Columbus Boulevard and Callowhill Street. Designed by Alesker & Dundon Architects, the dense project will include 1,342 rental apartments in four multi-story buildings and 16 townhomes. Plans also include 69,710 sf of retail, 19,000 sf of office space, 600 parking spaces, and more than an acre of landscaped public space. The project will be built 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 2016, with Phase I taking 16 months.

51. SLS LUX PHILADELPHIA HOTEL & RESIDENCES DEVELOPER: Dranoff Properties and SBE Entertainment Group LOCATION: 309-313 South Broad Street SIZE: 462,277 sf RESIDENTIAL UNITS: 90 HOTEL ROOMS: 152 START DATE: September 2016 COMPLETION DATE: Q1 2019 STATUS: Announced INVESTMENT: $240 Million DESCRIPTION: At 45 stories and 546 feet, the SLS LUX Philadelphia Hotel & Residences will be the tallest tower in Pennsylvania built for residential use. Located across South Broad Street from the Kimmel Center, the project will include 90 condominiums and the 152-room, boutique SLS LUX Hotel. There will be 160 resident-only parking spaces, as well as ground-floor retail and the prominent corner of Broad and Spruce will feature a three-story celebrity chef food and beverage operation. Ameni- ties for both residents and guests include a full spa, fitness center, all-season, 75-

Dranoff Properties foot pool, and ballroom/meeting facilities. The building is designed by Kohn Pederson Fox Associates and the hotel interior designer is Philippe Starck.

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52. THE HYDE Dranoff Properties DEVELOPER: Dranoff Properties and SBE Entertainment Group LOCATION: 337-341 South Broad Street SIZE: 179,870 sf RESIDENTIAL UNITS: 83 HOTEL ROOMS: 76 START DATE: Q1 2017 COMPLETION DATE: Q1 2019 STATUS: Announced INVESTMENT: $75 Million DESCRIPTION: Dranoff Properties and SBE Entertainment Group announced another joint venture to develop a residential/hospitality project just south of the SLS LUX development on South Broad Street. Once complete, the 22-story, mixed-use tower will include a ground-floor restaurant, an underground parking garage, 76 hotel rooms, 83 apartment units, and a separate restaurant on the roof deck on the 23rd floor. The proposed tower will rise to 292- feet, with floors 5 through 10 housing the hotel rooms and 11 through 22 containing a mix of studio, 1- and 2-bedroom apartments. The slender tower will be designed by BLT Architects.

53. ROYAL THEATER DEVELOPER: Dranoff Properties and Universal Companies LOCATION: 1524-1534 South Street SIZE: 65,000 sf RESIDENTIAL UNITS: 52 START DATE: July 2016 COMPLETION DATE: Q3 2017 STATUS: Announced INVESTMENT: $20 Million

Dranoff Properties DESCRIPTION: Plans call for the redevelopment of the historic Royal Theater into a mixed-use development with 52 high-end rental apartment units, 7,000 sf of retail space on the ground floor, and 20 below-grade parking spaces. The Royal’s façade will be preserved and amenities will include a fitness center and roof deck.

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54. DIVINE LORRAINE DEVELOPER: EB Realty Management Corporation LOCATION: 699 North Broad Street SIZE: 125,000 sf RESIDENTIAL UNITS: 109 START DATE: September 2015 COMPLETION DATE: Q1 2017 STATUS: Under Construction INVESTMENT: $43 Million DESCRIPTION: Purchased by Eric Blumenfeld’s EB Realty Manage- ment Corporation in 2012, the former hotel on North Broad Street will be converted into a unique residential community that will sit above a variety of restaurants and retail spaces totaling

WRT 21,000 sf. The luxury units are expected to rent for an average $1,875 per month. Given the location of the project on top of the Broad Street Line, no parking is planned for the development.

55. RODIN SQUARE DEVELOPER: International Financial Company and Dalian Development, LLC LOCATION: 501 North 22nd Street SIZE: 557,845 sf RESIDENTIAL UNITS: 293 START DATE: 2014 COMPLETION DATE: 2016 STATUS: Under Construction INVESTMENT: $160 Million

MV+A Architects 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.

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56. THE CURTIS CENTER DEVELOPER: Keystone Property Group, Mack-Cali Realty Corp. and Roseland, a Mack-Cali Company LOCATION: 699 Walnut Street SIZE: 885,000 sf RESIDENTIAL UNITS: 57 START DATE: Summer 2015 COMPLETION DATE: Spring 2017 STATUS: Under Construction INVESTMENT: $25 Million DESCRIPTION: The 885,000-sf Curtis Center will undergo a $25 million renovation that will transform the quiet stretch along Washington Square Park into a vibrant urban corridor and add luxury residential units as well as retail. Mack-Cali Realty Corporation and the Keystone Property Group acquired the building for $125 million in the summer of 2014. Plans include the conversion of 90,000 sf of vacant office space into 57 luxury apartments and outdoor streetscape improvements. Retail will be Voith and Mactavish Architects added on the ground floor and will include famous New York restaurant PJ Clarke’s on the corner of 6th and Walnut overlooking both Washington Square and Independence National Historical Park. The building will include a total of 50,000 sf of retail, 700,000 sf of office space and 100,000 sf of residential space.

57. 9TH AND WASHINGTON DEVELOPER: Midwood Investment & Development LOCATION: 9th Street and Washington Avenue SIZE: 126,500 sf RESIDENTIAL UNITS: 78 START DATE: 2017 COMPLETION DATE: 2018 STATUS: Announced INVESTMENT: Approximately $50 Million DESCRIPTION: Midwood Investment & Development plans to redevelop the parcel of land on the corner of 9th and Washington Streets in the Italian Market that includes a vacant lot and the current Anastasi’s Seafood building. The five-story brick building will include 70 apartments and roughly 18,000 sf of ground-floor retail. There will be two levels of underground parking with 150 parking spaces and an entrance off 9th Street. Eight new trinity homes will be constructed on the eastern edge of the site along Darien Street to maintain the context and scale of the area.

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58. EAST MARKET, PHASE I DEVELOPER: National Real Estate Development OWNER: National Real Estate Advisors, JOSS Realty Partners, Young Capital and SSH Real Estate LOCATION: City block between 11th and 12th Streets, Market and Chestnut Streets SIZE: 775,000 sf RESIDENTIAL UNITS: 322 START DATE: October 2014 COMPLETION DATE: Q2 2017 STATUS: Under Construction BLT Architects INVESTMENT: $250 Million

DESCRIPTION: East Market, a $500-million-plus, mixed-use project, aims to upgrade Philadelphia’s downtown retail district east of Broad Street. The project will completely revamp the entire block between 11th and 12th, Market and Chestnut Streets, by creating and enhancing pedestrian-oriented retail both along Market Street and former alleys on Ludlow and Clover Streets. The project will also add 322 new residential rental apartments, 161,000 sf of office space, parking, signage, and hospitality uses. Phase I will include the construction of two new retail buildings with large format digital signage along Market Street with rental units above. The entire site will feature 175 below-grade parking spaces and a central loading facility. Also included in Phase I is the redevelopment of 34 South 11th Street (the former Family Court Building) into modern Class A warehouse office space above new, ground-floor retail. This building will house MOM’s Organic Market on the ground floor and the relocated Market- place Design Center will occupy 48,000 sf of space above. Design Within Reach also plans to open a 15,000-sf-flagship. The second phase will include demolishing and replacing the existing mixed-use building, located on the 1100 block of Chestnut Street, with retail, residential, office, and parking uses. Once complete, the project will reopen Ludlow and Clover Streets, now closed to pedestrian and vehicular traffic, and create a pedestrian walkway from Market Street to Chestnut Street, revitalizing and expanding the Market East retail district, as well as connecting it to the vibrant Midtown Village retail district just south of the project.

59. HANOVER NORTH BROAD DEVELOPER: Parkway Corporation and The Hanover Company LOCATION: 322 and 339 North Broad Street SIZE: 301,068 sf RESIDENTIAL UNITS: 339 START DATE: December 2015 COMPLETION DATE: Summer 2017 STATUS: Under Construction INVESTMENT: $121 Million

Design Collective and The Hanover Company

DESCRIPTION: Parkway Corporation and The Hanover Company of Houston, Texas, are developing two lots on the southeast and southwest corners of North Broad and Callowhill Streets. 322 North Broad Street on the west side will have 229 apartments and feature an outdoor pool. 339 North Broad Street on the east side will have 110 units. The project will include over 14,000 sf of retail and 341 parking spaces.

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60. 1700 CHESTNUT 61. THE BEACON DEVELOPER: Pearl Properties DEVELOPER: Pearl Properties LOCATION: 1700 Chestnut Street LOCATION: 1527-1533 Walnut Street SIZE: 100,000 sf SIZE: 111,000 sf RESIDENTIAL UNITS: 98 RESIDENTIAL UNITS: 98 START DATE: 2014 START DATE: 2015 COMPLETION DATE: 2015 COMPLETION DATE: May 2017 STATUS: Completed STATUS: Under Construction

Pearl Properties DAS Architects DESCRIPTION: Pearl Properties redeveloped three buildings (1700-1714) into a mixed-use development with a 40,000-sf DESCRIPTION: Pearl Properties is developing a mixed-use res- Nordstrom Rack on the lower three floors and 98 luxury rental idential apartment project anchored by two retail spaces, apartments above. Completed in late 2015, the building is with a 10,000-sf Under Armour on the corner of 16th and 100% occupied. Walnut Streets. The 14-story building is designed to incorpo- rate modern finishes of a newly constructed high-rise with the architecture of the six-story corner masonry building. The 98-unit-building will include a state-of-the-art fitness center, fully furnished 1,500-sf roof deck with a view of Rittenhouse Square, movie-screening room and club room with catering kitchen, communal table, fireplace, televisions, billiards and shuffleboard.

62. 19TH + CHESTNUT DEVELOPER: Pearl Properties LOCATION: 1900-1910 Chestnut Street SIZE: 412,224 sf RESIDENTIAL UNITS: 300 START DATE: 2015 COMPLETION DATE: 2018 Pearl Properties STATUS: Under Construction

DESCRIPTION: 19th+Chestnut will be a multi-family residential development located at 1910 Chestnut Street and 110 and 112 South 19th Street. With frontages on 19th Street, 20th Street, Chestnut Street and Sansom Street, the overall project site is 54,782 sf. The proposed 32-story tower will include: 300 residential units on floors 3 through 32; amenities on the top floor; and underground parking for 140 cars. Entry to the residential tower will be through a landscaped courtyard facing 19th Street. Retail is planned for 19th and Sansom Streets, as well as at the site of the former Boyd lobby on Chestnut Street and the adjacent Alexander building on the corner of 19th and Chestnut Streets, which when renovated will be occupied by Target.

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63. THE LATHAM DEVELOPER: Pearl Properties LOCATION: 135 South 17th Street SIZE: 125,000 sf RESIDENTIAL UNITS: 141 START DATE: November 2015 COMPLETION DATE: Summer 2016 STATUS: Under Construction DESCRIPTION: Pearl Properties purchased the Latham Hotel at the corner of 17th and Walnut Streets and is converting it into 141 rental apartments. Capital One Café will be the retail tenant on the lower two floors of the building. Pearl Properties

Designed by Jacobs, executed by Studio Agoos Lovera 64. EASTERN TOWER COMMUNITY CENTER DEVELOPER: Philadelphia Chinatown Development Corporation (PCDC) and JNA Capital, Inc. LOCATION: 300 North 10th Street SIZE: 195,000 sf RESIDENTIAL UNITS: 150 START DATE: Spring 2016 COMPLETION DATE: 2017 STATUS: Announced INVESTMENT: $76 Million DESCRIPTION: PCDC has helped form an immigrant investor Region- al Center that will raise $33 million to fund its Eastern Tower Community Center in Chinatown. The Regional Center is part of the EB-5 program. Administered through the United States Citizenship and Immigration Services (USCIS), the program is designed to attract foreign investment in projects that promote economic growth and job creation. The remainder of the funding for the 23-story, mixed-use development consists of $23 million in New Market Tax Credits and a loan commitment from Citi- bank, as well as a combination of private equity and grants. The project will include 150 apartments, offices, and retail space, as well as a recreation/event space for the community.

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65. 218 ARCH STREET DEVELOPER: PMC Property Group LOCATION: 218 Arch Street SIZE: 140,000 sf RESIDENTIAL UNITS: 116 START DATE: Spring 2016 COMPLETION DATE: Summer 2017 STATUS: Announced INVESTMENT: $58 Million DESCRIPTION: PMC Property Group and Varenhorst will construct a 10-story, mixed-use building on a surface parking lot near 2nd and Arch in Old City. The project sits on the historic cobblestone lane, Little Boys Court, and will have 116 rental Varenhorst units and ground-floor retail along Arch Street.

66. ONE WATER STREET DEVELOPER: PMC Property Group LOCATION: 250 North Columbus Boulevard SIZE: 272,178 sf RESIDENTIAL UNITS: 250 START DATE: October 2014 COMPLETION DATE: Spring 2016 STATUS: Under Construction INVESTMENT: $65 Million

Varenhorst

DESCRIPTION: PMC Property Group is developing a 250-unit apartment building next to the Benjamin Franklin Bridge. The high-rise will have a 13-story wing on the south side and a 16-story wing on the north side. The building will have approximately 65% one-bedroom units and 35% two- and three-bedroom units. The One Water Street grounds will include two public green spaces, designed by landscape architect David Rubin at Land Collective, one of which will have the effect of a promenade along Columbus Boulevard. Together, the two public spaces will total about 11,600 sf, or 20% of the site. Ten percent of the units will be reserved for lower-income residents. The project also includes a green roof, 73 parking spaces, car-share spots, a bicycle storage room, gym, and meeting space for building residents. The project will include 5,000-sf of ground-floor retail due to the growing pedestrian presence on Columbus Boulevard.

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67. ONE FRANKLIN TOWER PMC Property Group DEVELOPER: PMC Property Group and Lubert-Adler LOCATION: 200 North 16th Street SIZE: 607,471 sf RESIDENTIAL UNITS: 325 START DATE: April 2016 COMPLETION DATE: Spring 2017 STATUS: Announced DESCRIPTION: In partnership with Lubert-Adler Real Estate Fund, PMC Property Group has purchased One Franklin Plaza, the former North American headquarters for GlaxoSmithKline, with plans to redevelop the property, which has been renamed One Franklin Tower. The 24-story, 607,471-sf building, originally built in 1980, will be fully converted to a premier mixed-use property consisting of first-class office space and luxury apartments. The property’s office component will feature floor-to-ceiling glass windows with natural light, eight corner offices, and its own dedicated contemporary elevator lobby. The apartments will offer generously-sized floor plans, luxury finishes, and a full complement of modern amenities. The property shares a two-level parking garage with 450 spaces with the Sheraton Convention Hotel.

68. 2400 MARKET STREET Varenhorst DEVELOPER: PMC Property Group and Lubert-Adler LOCATION: 2400 Market Street SIZE: 950,000 sf RESIDENTIAL UNITS: 325 START DATE: February 2016 COMPLETION DATE: 2018 STATUS: Under Construction INVESTMENT: $230 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 with 370,000 sf, and 12 South 23rd Street, a six-story, 120,000-sf structure. The project is ideally positioned across from University City and 30th Street Station, and close to Rittenhouse Square and the Central Business District. Once complete the project will help connect Center City and University City along Market Street, leveraging public investments made along the Market Street Bridge above and Schuylkill Banks. 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. New retail space, totaling 65,000 sf, will be created for a grocery store, restaurant, and coffee shop.

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70. THE ROOSEVELT APARTMENTS DEVELOPER: Post Brothers LOCATION: 2216-2222 Walnut Street SIZE: 64,628 sf RESIDENTIAL UNITS: 97 START DATE: 2015 COMPLETION DATE: 2016 STATUS: Under Construction INVESTMENT: $20 Million

Rafael Viñoly Associates 69. 1401 SPRUCE STREET Post Brothers DEVELOPER: Post Brothers LOCATION: 1401 Spruce Street DESCRIPTION: The two-building complex was purchased by an undisclosed investor who was represented in the transaction by Post SIZE: 263,000 sf Brothers for $15.7 million. The property is a mixed-use building RESIDENTIAL UNITS: 200 with 97 units and 6,000 sf of retail. The building will remain opera- START DATE: 2014 tional as it undergoes a $20-million renovation. COMPLETION DATE: Early 2017 STATUS: Under Construction INVESTMENT: $210 Million DESCRIPTION: The former headquarters of the Atlantic Richfield Oil Company is being converted into 160 rental units and 40 condos and 13,000 sf of retail. The 21-story building will include a resident’s lounge, wine lockers, catering kitchen, billiard room, commercial quality fitness center, spa, business center, and a rooftop event space. Private, deeded valet parking will be provided. The building’s residential entrance will face Spruce Street, while the retail component will be accessed via the current Broad Street entrance. The project is designed by Rafael Viñoly Architects. 71. TRANSATLANTIC DEVELOPER: PRDC Properties LOCATION: 420-422 Fairmount Avenue RESIDENTIAL UNITS: 66 START DATE: 2015 COMPLETION DATE: 2017 STATUS: Under Construction DESCRIPTION: Located at the intersection of 5th Street and Fairmount Avenue, PRDC Properties is developing a total of 66 new residential units. The project will result in 41 new apartment units and 25 single-family units, including the redevelopment of the former Trans-Atlantic Building. Five single-family units along North 5th Street have already been completed. ISA - Interface Studio Architects

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72. FRANCIS HOUSE OF PEACE DEVELOPER: Project HOME and Philadelphia Chinatown Development Corporation (PCDC) LOCATION: 810 Arch Street SIZE: 79,096 sf RESIDENTIAL UNITS: 94 START DATE: July 2014 COMPLETION DATE: November 2015 STATUS: Completed INVESTMENT: $24 Million

DESCRIPTION: Sister Mary Scullion’s Project HOME and the PCDC completed a nine-story affordable-housing project in Chinatown in November 2015. The complex provides 94 efficiency apartments for lower-income rental tenants ranging in age from seniors to children aging out of foster care. Designed by Kramer + Marks, the building offers an underground rainwater collection system to manage runoff. For units with project-based vouchers through the Phila- delphia Housing Authority, tenants pay 30% of income. An additional 57 units are affordable to those at or below 50% of income, and 15 units are affordable to those at or below 20%. Rents are between $690 and $799 per month.

73. 1601 VINE STREET DEVELOPER: Property Reserve, Inc. LOCATION: 1601 Vine Street SIZE: 513,997 sf RESIDENTIAL UNITS: 277 START DATE: Late 2014 COMPLETION DATE: 2017 STATUS: Under Construction INVESTMENT: $120 million (media estimates) Robert A.M. Stern Architects DESCRIPTION: The mixed-use development includes a residential apartment tower and retail space located at 1601 Vine Street. The residential tower is 32 stories and will consist of 264 rental 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.

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74. 1300 FAIRMOUNT DEVELOPER: RAL Development Services, LLC LOCATION: 1300 Fairmount Avenue SIZE: 783,760 sf RESIDENTIAL UNITS: 486 START DATE: Summer 2016 COMPLETION DATE: 2018 STATUS: Announced INVESTMENT: Approximately $200 Million DESCRIPTION: New York City-based RAL Development Services, LLC is developing an assemblage of vacant lots at 13th Street and Fairmount Avenue adjacent to the Divine Lorraine Hotel. The project includes a retail and structured-parking podium supporting a residential rental apartment building with up to 486 apartments. The parking will sup- port both the retail and residential components. Additionally the project includes an enhanced Cope Linder Architects/RAL Development Services, LLC public streetscape with an approximately 6,000-sf public plaza with fixed seating, landscaping and bicycle parking. RAL is seeking a $15 million grant from the Redevelopment Assistance Capital Pro- gram (RACP).

75. 1911 WALNUT STREET DEVELOPER: Southern Land Company LOCATION: 1911 Walnut Street SIZE: 550,000 sf RESIDENTIAL UNITS: 406–417 START DATE: TBD COMPLETION DATE: TBD STATUS: Announced

INVESTMENT: $300 Million SCB Architecture DESCRIPTION: Southern Land Company will develop the empty parcel at 1911 Walnut Street across from Rit- tenhouse Square. The developer has applied for rezoning of the property to allow for denser development that would include 342 apartments, 64 to 75 condos and 55,000 sf of retail that would wrap around Walnut, Sansom and 20th Streets. The mixed-use tower, which will include underground parking, will stand between 47 and 51 stories, with the first three dedicated to retail. The project is currently going through the approval process and plans could change to accommodate community input. The building will be designed by Chicago firm Solomon Cordwell Buenz. Southern Land Company is developing 1911 Walnut in a joint venture with an undisclosed domestic institutional investor.

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77. 1213 WALNUT DEVELOPER: The Goldenberg Group and Hines LOCATION: 1213 Walnut Street SIZE: 300,000 sf RESIDENTIAL UNITS: 322 START DATE: November 2015 COMPLETION DATE: Q3 2017 STATUS: Under Construction BartonPartners INVESTMENT: $125 Million 76. THE NATIONAL

DEVELOPER: The Patriot Group Goldenberg Group Dec. 4, 2015 LOCATION: 115 North 2nd Street SIZE: 204,235 sf DESCRIPTION: The Goldenberg Group and Hines are developing a 26-story, multi-family high-rise at 12th and Walnut Streets, RESIDENTIAL UNITS: 192 formerly a surface parking lot. The project broke ground in START DATE: Spring 2016 November 2015 and will include 322 rental units and 7,300 sf COMPLETION DATE: 2017 of retail. STATUS: Announced INVESTMENT: $23 Million DESCRIPTION: The former National Products building will be redeveloped into a 192-unit apartment building with 3,000 sf of ground floor retail and underground parking. The iconic façade will be dismantled and rebuilt.

78. 2400 SOUTH DEVELOPER: Toll Brothers LOCATION: 2400 South Street SIZE: 235,583 sf RESIDENTIAL UNITS: 127 START DATE: 2012 COMPLETION DATE: Spring 2015 STATUS: Completed DESCRIPTION: The project consists of 68 townhouses and 59 condos, as well as 2,266 sf of retail along 24th Street. The development is near the Toll Brothers’ first Graduate Hospital area project, Naval Square.

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79. 1001 SOUTH BROAD DEVELOPER: Tower Investments LOCATION: 1001 South Broad Street SIZE: 1,800,000 sf RESIDENTIAL UNITS: 950–1,000 START DATE: TBD COMPLETION DATE: TBD STATUS: Announced INVESTMENT: $150 Million (media estimates) DESCRIPTION: Tower Investments plans to build a large, mixed-use complex on the now vacant lot at the northeast corner of Washington Avenue and Broad Street, viewed as the “gateway” intersection between South Philadelphia and Center City. The gross building area will be approximately 1,800,000 sf (including normally exempt retail and loading areas) and will include a total of 950-1,000 units, 25,000 sf of multi-tenant office space, 143,000 sf of retail and 625 parking spaces. The residential component will include a 34-story, 800-unit residential tower, a smaller four-story residential building with approximately 60 units and 100–120 walk-up units that are part of an internalized outdoor public space to include 66,000 sf of small scale retail. The project will create a fully mixed-use, “live, work, play” environment for the neighborhood, as well as give residents access to an array of common-area amenities.

80. 900-934 CALLOWHILL DEVELOPER: Wing Lee Investment, L.P. LOCATION: 900-934 Callowhill Street SIZE: 173,913 sf RESIDENTIAL UNITS: 146 START DATE: Spring 2016 COMPLETION DATE: 2019 STATUS: Announced INVESTMENT: $20 Million DESCRIPTION: Designed by T.C. Lei Architect & Associates, the proposed project will sit on a rectangular parcel of what is now a mix of warehouses and industrial space, a lumberyard and vacant lots at 900–934 Callowhill Street. The area is bounded by Carlton Street, North 9th Street, Callowhill Street and Ridge Avenue. Existing structures will be razed. The design features four independent buildings: two seven-story apartment towers and two five-story buildings with apartments above and a total of 12 new commercial spaces fronting Callowhill Street on the first floor. All residential units will be market-rate, two-bedroom rentals of about 880 sf. An open-air cruciform courtyard and central elevator/stairwell tower will complete the interior of the site, which is being designed with an estimated $20 million total budget. The development will include approximately 14,000 sf of commercial space and more than 135,000 sf dedicated to residential use.

42 CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG RETAIL

81. 1428 WALNUT DEVELOPER: Midwood Investment & Development LOCATION: 1428 Walnut Street SIZE: 60,000 sf START DATE: Q4 2013 COMPLETION DATE: Summer 2015 STATUS: Completed DESCRIPTION: Capitalizing on rising rents in Phila- delphia’s prime retail district, Midwood Invest- ment & Development constructed a modern, glass retail structure designed by Bohlin Cywinski Jackson at 15th and Walnut Streets. It houses the Cheesecake Factory on the second floor and Verizon Innovation on the ground floor, along with other yet-to-be-announced tenants.

82. FASHION OUTLETS OF PHILADELPHIA AT MARKET EAST DEVELOPER: PREIT & Macerich LOCATION: Northern blocks of Market Street between 8th and 11th Streets SIZE: 1,500,000 sf START DATE: 2015 COMPLETION DATE: Spring 2018 STATUS: Under Construction INVESTMENT: $325 Million

PREIT

DESCRIPTION: In July 2014, it was announced that the California-based retail developer Macerich acquired a 50% interest in The Gal- lery in return for investing in redeveloping the mall. PREIT and Macerich are now repositioning The Gallery to become a destination for shopping, dining, and entertainment in Philadelphia, by incorporating first-to-market fashion retailers and artisanal food and restaurant offerings. The first anchor tenant is Century 21, which opened a 100,000-sf store in October 2014 in the former Straw- bridge’s building. The plan will create an open, well-lit, and easily accessible three-block corridor of approximately 125 new stores, including dining and entertainment options. The top-to-bottom redesign will reconfigure the mixed-use facility as a bright, new contemporary space that reconnects to Market Street with accessible storefronts, sidewalk cafés, a new streetscape, digital signage and graphics. The highlight of the newly-reimagined space will be a new glass-walled Center Court at 9th and Market Streets that will welcome tourists, office workers, conventioneers, and residents alike.

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG 43 ACKNOWLEDGMENTS

INFORMATION PARTNERS P&A Associates – Dranoff Properties Robert Shaw June 5th Memorial Park Committee – Drexel University Communications Philadelphia Chinatown Development Nancy Goldenberg FFKR Architects Corporation – Sarah Yeung Aimco – FlossBarber Stephanie Bristow, Cindy Duffy Philadelphia Museum of Art – Shen Shellenberger The Free Library of Philadelphia Alliance Partners HSP – Matt Handel Philadelphia Parking Authority – Gensler Richard Dickson, Lorraine Baker Alterra Property Group – GLUCK+ PMC Property Group – Leo Addimando Goldenberg Group Jonathan Stavin, Kate Groshong Greystar – Granum Associates Tracy Keyser Post Brothers – Matthew Pestronk Greystar Baywood Hotels – Kurt Blorstad ISA - Interface Studio Architects LLC – Hargreaves Associates and Redsquare Alexandra Gauzza, LEED AP BD+C Brandywine Realty Trust – ISA - Interface Studio Architects PREIT – Paul Commito, Regina Sitler JKRP Architects Haley Samsi Brickstone Realty – KieranTimberlake Mark Merlini Priderock Capital Partners, LLC – Chris Todd Kramer + Marks Architects GLUCK+ – Bethia Liu Project HOME – Moustafa Moustafa Matthew McCarter Schiffman Consulting Corp. – MV+A Architects Risa Heller Communications – Martin Schiffman NC3D for Robert A.M. Stern Architects James Yolles Gibbs Management – Pearl Properties Andrew Gibbs Realen – Dennis Maloomian Perkins Eastman Architects Children’s Hospital of Philadelphia – Jonathan J. Hood Southern Land Company – Dustin Downey, Philadelphia Museum of Art Andy Ecton, Matt Magallanes Church of Jesus Christ of the Latter-day Saints – PMC Property Group BartonPartners – Corinne Dougherty Post Brothers Mary E. McClenaghan, AIA, NCARB City of Philadelphia – PREIT Stephanie K. Craighead The Free Library of Philadelphia – Alix Gerz Rafael Vinoly Associates DAS Architecture – Annette Walsh The Goldenberg Group – RAL Todd Malligan, Adam Rosenzweig Delaware River Waterfront Corporation – Realen Toll Brothers – Karen Thompson, AICP Robert A.M. Stern Architects Brian Emmons Dranoff Properties – Scannapieco Development Corporation Erika Bohl T.C. Lei & Associates, P.C. – Michelle Kleschick, NCIDQ SCB Architecture Drexel University – Nancy Trainer Scott Aker, AIA EB Realty Management Corporation – PHOTOGRAPHY & RENDERINGS spg3 architects Chris Cordaro (c) 2016 Curio Stantec Forest City Residential Group – Aimco Varenhorst Robert D. Lane, Jr. Alesker & Dundon Architects Voith and Mactavish Architects Cashman & Associates – Michelle Conron, Laura Krebs Miller Alliance Partners HSP, LLC WRT International Financial Company – Ballinger and Pelli Clark Pelli Architects Odara Jabali-Jeter BartonPartners CCD STAFF Keystone Property Group – BLT Architects Research & Writing: Jennifer Cooperman Casandra Dominguez, Manager of Business Brandywine Realty Trust Midwood Investment & Development – Retention & Retail Attraction Brickstone Realty Michelle Goldman Writing & Editing: Museum of the American Revolution – Comcast Corporation Linda Harris, Director of Communications & Publications; Nancy Goldenberg, Vice President ZeeAnn Mason Cope Linder of Planning & Development National Real Estate Development – Daniel Jackson Charles Norman Graphic Design: Michael Choi, Graphic Designer; DAS Architects Amy Yenchik, Creative Director JKRP Architects – Mike Izzo Delaware River Waterfront Corporation Parkway Corporation – Design Collective and The Hanover Company UPDATES/ERRATA Salvatore Farruggia, Robert Zuritsky Designed by Jacobs, executed by Studio Agoos www.CenterCityPhila.org/Developments Pearl Properties – Lovera James Pearlstein

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