Center City Philadelphia Developments 2013-2017 Introduction 02 Development Map 04

Center City Philadelphia Developments 2013-2017 introduction 02 development map 04

Commercial/Mixed-use 06 cultural 07 hospitality 09

Government & Non-Profit Institutions 10 medical 11

Residential/Mixed-use 12 retail 22 public spaces 23

ACKNOWLEDGeMENTS 24 More than $4.7 billion is being invested or is planned for major developments between Spring Garden and South Streets in Center City. In this dense and compact area that corresponds to the original boundaries of William Penn’s city, there are currently 246,065 workers, 72,000 residents, several hundred arts and cultural organizations, 91 commercial office buildings, and more than 11,300 hotel rooms.

Since 2000, the population in this area has increased by 24.2%, demand for downtown hotel rooms. To accommodate the as Millennials, empty-nesters, and families with children have growth in overnight visitors, several hotel projects were chosen to live near work and a broad range of dining, cultural, announced in 2013, including the boutique SLS and Kimpton and entertainment offerings. To support this growing demand, hotels and a W Hotel and Element by Westin. With the between January 2013 and December 2017, more than 5,800 addition of the recently completed Home2 Suites, Center City units of housing are projected to be completed. is expected to have 1,573 new hotel rooms by 2017.

A total of 13 major development projects of various types Center City’s growing residential population, with average were completed in this area in 2013; 17 more were under household incomes over $100,000, is spurring several large- construction as of April 2014, and 20 are proceeding through scale retail projects, such as PREIT’s redevelopment of The the approvals process. All 50 developments are categorized Gallery and NREA’s East Market project. More than 612,000 by type and are mapped on pages 4-5. square feet of retail is expected to be added to Center City in the next few years, with a majority of it east of Broad Street, Of the 50 major Center City developments, 27 are residential/ where there is room to accommodate the larger floor plates mixed-use and another three are exclusively residential. The that big-box retailers prefer. remaining developments include five cultural, four public space, three hospitality, two commercial/mixed-use, two In addition to the developments map on pages 4-5, the government or non-profit projects, and two education and accompanying report includes full-color renderings and healthcare developments, as well as two retail projects. project descriptions of all 50 major developments. The report highlights major projects that were completed in The $1.2 billion Comcast Innovation and Technology Center, 2013, were under construction, or had been announced as a project proposed by Comcast and Liberty Property Trust, is of Q1 2014, from Spring Garden to South Streets. The Center the largest among the planned developments. This new tower City District collected information on the various projects th at 18 and Arch Streets will add more than 1.3 million square from published reports and CDR applications and verified feet of office space to the downtown. Comcast has committed information with the developers and/or architects of the to lease 957,000 square feet and has until September to projects. As projects are constantly being updated, for the decide if it will lease the entire building. purposes of this publication, all data reflect project status, design, and information available to the public as of the end The $786 million expansion of the Pennsylvania Convention of Q1 2014. For updates to these and future projects, visit Center in 2011, as well as strong increases in both leisure www.centercityphila.org/developments. and non-convention business travel, has created more

2 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org major projects completed in 2013 & in the pipeline

$4.7 billion total investment 5,808 residential units 1,573 hotel rooms 1,961,600 SF of commercial/mixed-use development 612,133 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 | 16.3%

Major Developments in Center City by Completion Date

16 14 13 12 11 11 10

s 7 8 oject 6 4 4 2

Number of Pr 0 2013 2014 2015 2016 2017

Note: Several of the projects included on the map on the following page had not yet announced completion dates, development costs, or square footage as of the end of Q1 2014. As a result, these figures are not included in the respective totals.

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

DEVELOPMENTS IN CENTER CITY

SPRING GARDEN ST. Commercial/Mixed-use SPRING GARDEN ST. 1. Comcast Innovation 32 & Technology Center 2. 8th & Filbert Street Garage 47 36 Cultural Schuylkill River 3. FringeArts

BENJAMIN FRANKLIN PKY 4. Nicholas and Athena Karabots Pavilion at The Franklin Institute 23 5. Benjamin Franklin Museum

CALLOWHILL ST. CALLOWHILL ST. at National Historical Park 43 6. Kimmel Center Renovation - Volver & SEI Innovation Center

. 33 7. Museum of the American Revolution .

9 18TH ST 12 28 11TH ST Hospitality VINE ST. EXP 8. W Hotel and Element by Westin 9. Kimpton Hotel at Family Court . 21 . FRANKLIN 10. Home2 Suites by Hilton Philadelphia 21TH ST 4 LOGAN . 16TH ST SQUARE SQUARE . 17TH ST . . Government & Non-Profit Institutions . 13TH ST 12TH ST RACE ST. 20TH ST RACE ST. 11. Philadelphia Family Courthouse .

. BENJAMIN FRANKLIN PKY . 12. Philadelphia Pennsylvania Mormon Temple 22TH ST 23TH ST 15TH ST 3 CHERRY ST. PENNSYLVANIA CONVENTION CENTER CHERRY ST. Medical . TH BROAD ST 13. Penn Medicine Washington Sq. 19TH ST . . NOR 14. CHOP Schuylkill Ave. Phase I

11 8TH ST 27 2TH ST ARCH ST. ARCH ST.

50 . Residential/Mixed-use 31 1 LOVE 10 7TH ST . PARK . 15. SLS International Hotel and Residences 9TH ST 10TH ST 16. The Icon FILBERT ST. 2 JFK BLVD. . 17. Avenir DIL . . . PLAZA 46 FRONT ST 18. Shirt Corner 38 WORT 20

24 6TH ST 4TH ST 5TH ST 18 19. 1116-28 Chestnut Street . . 20. Mellon Independence Center Tower

MARKET ST. WEST H MARKET ST. EAST 5 CITY 30 49 HALL 3TH ST 21. Eastern Tower Community Center JUNIPER ST 40 22. The Sansom 8 23. The Granary 29 17 24. 1919 Market Street CHESTNUT ST. CHESTNUT ST. 39 7 25. 2116 Chestnut Street 25 19 26. John C. Anderson Apts.

SANSOM ST. 22 SANSOM ST. 27. 229 Arch Street 28. 1601 Vine Street 29. AQ Rittenhouse WALNUT ST. WALNUT ST. 30. 2040 Market Street

44 River Delaware 16 45 13 37 31. 1900 Arch Street RITTENHOUSE WASHINGTON 32. Tower Place SQUARE LOCUST ST. SQUARE 33. Goldtex LOCUST ST. 48 34. One Riverside Place 34 35. Southstar Lofts 26 36. Rodin Square 37. Walnut Place SPRUCE ST. SPRUCE ST. 6 38. River Walk Philadelphia 39. 1346 Chestnut Street 15 40. East Market

. 41. 2400 South

PINE ST. PINE ST. Residential 42. 410 at Society Hill S. BROAD ST LOMBARD ST. LOMBARD ST. . 43. Museum Towers II ......

23TH ST 44. 500 Walnut . 17TH ST 16TH ST 15TH ST 18TH ST 20TH ST 19TH ST . . 42 21TH ST 25TH ST 24TH ST SOUTH ST. SOUTH ST. Retail 35 . 45. 15th & Walnut . . 41 13TH ST 46. The Gallery 22TH ST 12TH ST BAINBRIDGE ST. BAINBRIDGE ST. Public Space .

14 . 47. Franklin’s Paine Skatepark

2TH ST FRONT ST 48. Schuylkill Banks Boardwalk FITZWATER ST. FITZWATER ST. 49. Dilworth Plaza .

. 50. JFK Plaza/LOVE Park Renovation . 11TH ST .

Source: Developments Database, Center City District 10TH ST 5TH ST . CATHRINE ST. . CATHRINE ST. . . 4TH ST 6TH ST 7TH ST . 9TH ST 8TH ST 3TH ST

CHRISTIAN ST. CHRISTIAN ST. 4 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 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: Fall 2017 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. To be designed by world-renowned architect Norman Foster, the building will provide office space for Comcast and house the 222-room Four Seasons Hotel. This design will be conducive to an open, collaborative work environment and will seek to foster innovation, research, technology, and discovery. The project will add 1,321,921 SF of office space, of which Comcast will be leasing at least 957,000. Comcast plans to add 1,500 new jobs and will be relocating NBC 10 from Bala Cynwyd to Center City.

Developer: Philadelphia Parking Authority 2. 8th & Filbert Street Garage Location: 801 Filbert Street Size: 158,600 SF Start Date: 2013 Completion Date: 2015 Investment: $18 Million Description: Designed by Wallace Roberts & Todd (WRT), the project includes new façades, green elements, new interior paint and lights, as well as playful LED lights hanging over Eighth Street. Retail spaces under the garage will be revamped into a vibrant retail corridor totaling 24,011 SF, as PPA works to fill some of the now vacant storefronts. To green the 100% impervious structure, WRT designed rooftop cisterns that will catch water for pressure washing and other garage maintenance. The new garage will provide a gateway between Chinatown and Market Street.

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

3. FringeArts 4. Nicholas and Athena Karabots Pavilion at The Franklin Institute

Developer: FringeArts Developer: The Franklin Institute Location: 140 North Christopher Columbus Boulevard Location: 222 North 20th Street Size: 10,000 SF Size: 53,000 SF Start Date: 2013 Start Date: April 2012 Completion Date: 2014 Completion Date: 2014 Investment: $7 Million Investment: $41 Million Description: The 1903 historic former pumping station will Description: Adjacent to the Benjamin Franklin National Memorial in the be transformed into a year-round center for contemporary rotunda of The Franklin Institute, the pavilion, designed by SaylorGregg performing and visual arts. The building will feature a Architects, will house an expanded education center, state-of-the-art 240-seat theater, rehearsal and creation studio, permanent exhibit on the human brain, and upgraded and expanded gallery for festival hub, outdoor events plaza, restaurant/bar, and traveling exhibitions. The exterior of the building will incorporate modern administrative offices. features, such as extensive landscaping and a 3,000 SF kinetic “shimmer wall” by renowned artist Ned Kahn. Underneath the shimmer wall, a new terrace will be constructed with seating and rain gardens.

5. Benjamin Franklin Museum at the independence National Historical Park

Developer: National Park Service Location: 318 Market Street Size: 20,000 SF Start Date: 2011 Completion Date: August 2013 Investment: $24 Million

Description: The Benjamin Franklin Museum underwent a two-year renovation, its first since it opened in 1976. Located beneath the iconic “ghost house” structure designed by Robert Venturi, John Rauch, and Denise Scott Brown for the Bicentennial, the redeveloped underground museum and new entry pavilion were designed by Quinn Evans Architects. The new entrance connects Franklin Court to the underground museum through a new transitional space that clearly invites visitors into the museum, a place many visitors never realized was beneath their feet. The site features personal artifacts, computer animations, and interactive displays exploring Franklin’s life as a private citizen and statesman.

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

6. Kimmel Center Renovation - Volver and The SEI Innovation Center

Developer: Kimmel Center Location: 300 South Broad Street Size: 4,400 SF Start Date: April 2012 Completion Date: Spring 2014 Investment: $4.5 Million

Description: A decade after the construction of the $275 million Kimmel Center, the board presented a master plan for improvements. How much of the plan gets completed is contingent on funding, but the renovation currently underway is designed to improve amenities. These include remaking the rooftop garden (the $5.7 Million remodel was completed in 2012) and adding the SEI Innovation Center and Jose Garces’ restaurant Volver along Spruce Street. 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 7. 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 will begin demolition of the old Bicentennial Visitor Center in spring 2014, with construction starting 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.

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

Developer: Chestlen Development Location: 1441 Chestnut Street Size: 770,607 SF Hotel Rooms: 755 Start Date: 2014 Completion Date: 2017 Investment: $280.4 Million+ Description: The 50-story hotel will have 755 rooms under the W Hotel and Element by Westin flags. It will have 41,000 SF of meeting and banquet space, an 8,600 SF restaurant, 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.

8. W Hotel and Element by Westin

10. Home2 Suites by Hilton Philadelphia 9. Kimpton Hotel

Developer:March 28, 2014 Peebles Corporation and P&A Associates Location: 1801 Vine Street Developer: Wurzak Hotel Group and The Parkway Corporation Size: 250,000 SF Location: 1200 Arch Street Hotel Rooms: 199 Size: 150,000 SF Start Date: 2015 Hotel Rooms: 248 Completion Date: 2016 Start Date: April 2012 Investment: $90 Million Completion Date: August 2013 Description: The 73-year-old Family Court building will be redeveloped $60 Million into a hotel when the Court moves to its new location at 15th and Arch Investment: Streets. The building’s interior, including all 37 murals and lighting Description: The nine-story hotel, located across the street from fixtures, were designated historically significant in 2011 and will remain the Pennsylvania Convention Center, will be operated by the intact. The project will include a 3,500 SF ballroom, meeting and board Wurzak Hotel Group. Built on the site of a former parking garage, rooms, a spa and fitness center, and a restaurant and bar. The project the hotel is one of the first newly built hotels in Philadelphia in will be financed with $30 million in equity from the San Francisco real more than a decade. The building has 10,000 SF of retail on the estate company MacFarlane Partners. ground floor, including tenants Panera Bread and Burger Fi.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 9 Government & Non-Profit Institutions

Developer: Pennsylvania Department of General Services 11. Philadelphia Family Courthouse Location: 1501 Arch Street Size: 510,000 SF Start Date: 2012 Completion Date: 2014 Investment: $160 Million Description: Designed by EwingCole, the new courthouse will unite the Domestic Relations and Juvenile Division facilities of the Philadelphia Family Court, currently located in separate buildings. Once completed, the 265-foot building will include 14 floors of office space and three stories of underground parking that will house 265 cars.

12. Philadelphia Pennsylvania Mormon Temple

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 Atlanta-based 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 Independence Hall’s.

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

Developer: Liberty Property Trust and The Parkway Corporation 13. Penn Medicine Washington Square Location: 800 Walnut Street Size: 153,242 SF Start Date: October 2011 Completion Date: August 2013 Investment: $71.6 Million Description: One of the largest capital projects in the history of Pennsylvania Hospital, Penn Medicine Washington Square opened in Center City in September 2013. Liberty Property Trust, in collaboration with The Parkway Corporation, built the 260-foot tower atop an existing Parkway Corporation garage. The tower increases Penn’s downtown presence and is close to Penn’s Pennsylvania Hospital and additional offices at the Curtis Center.

14. Children’s Hospital of Philadelphia - Schuylkill Avenue Phase I

Developer: Children’s Hospital of Philadelphia Location: 700 Schuylkill Avenue Size: 735,656 SF Start Date: Summer 2014 Completion Date: Spring 2017 Investment: $250 - $500 Million (media estimates) Description: As the first 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 for clinical research and administrative programs. The tower will house a research staff of 1,000 and include structured parking and loading. Phase 1 will also include surface parking and several public spaces, while allowing for a future connection to the Schuylkill River Trail. The parcel extends from Schuylkill Avenue and the railroad tracks, stretching from the South Street bridge to approximately Catherine Street.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 11 Residential/Mixed-use

15. SLS International Hotel and Residences

Developer: Alterra Property Group, Federal Capital Partners, and Cross Properties Location: 1616 Walnut Street Size: 280,000 SF Residential Units: 206 Start Date: May 2013 Completion Date: Spring 2014 16. The Icon Investment: $97 Million

Description: The project will convert the office tower into rental apartments. Once complete, it will include 206 luxury units, 160 parking spaces, and 23,000 SF of existing retail. Developers used New York-based real estate company Delos to infuse the building with their WELL Building Standards, which promote health and wellness into the built environment. Apartments will have “healthy” features such as circadian lighting that helps regulate melatonin levels, and advanced air purification and water filtration systems.

Developer: Alterra Property Group and 17. Avenir The Scully Company Developer: Dranoff Properties and SBE Location: 1515 Chestnut Street Entertainment Group Size: 150,000 SF Location: 309-313 South Broad Street Residential Units: 175 Size: 422,838 SF Start Date: Q2 2014 Residential Units: 125 Completion Date: Q2 2015 Hotel Rooms: 149 Investment: $60 Million Start Date: Fall 2014 Description: The project will redevelop Completion Date: Fall 2016 the Class B office building into 175 Class Investment: $220 Million A apartments, 8,000 SF of office, and Description: At 47 stories and 562 feet, the SLS 7,500 SF of existing ground-floor retail. International will be the tallest residential tower in Pennsylvania. The project will include 125 condominiums and the boutique SLS Hotel. There will be four levels of parking shared by the hotel and residents, as well as ground-floor retail and a corner bar and restaurant. The building will be designed by Kohn Pedersen Fox Associates.

12 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Residential/Mixed-use

Developer: Alterra Property Group 18. Shirt Corner Location: 259 Market Street Size: 54,000 SF Residential Units: 59 Start Date: 2014 Completion Date: 2015 Investment: $20 Million Description: Alterra Property Group assembled 10 properties on the corner of North Third and Market Streets, where the famous “Shirt Corner” was once located. Plans call for the buildings to be converted into residential apartments with a CVS on the ground floor.

19. 1116-28 Chestnut Street Developer: Brickstone Realty Location: 1116-1128 Chestnut Street Residential Units: 115 Start Date: Q4 2013 Completion Date: Spring 2015 Investment: $65 Million Description: The development will include 115 high-end rental units and 90,000 SF of commercial space, with dedicated parking for retail. One-bedroom units will range in size from 630 SF to 820 SF and two-bedroom units between 1,054 SF and 1,183 SF.

Developer: Brickstone Realty 20. Mellon Independence Center Tower Location: 701 Market Street Size: 377,321 SF Residential Units: 342 Start Date: TBD Completion Date: TBD Investment: $102 Million Description: The 399-foot, 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, to not distract from the Lits complex, and the north-south orientation and setback would 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 above it will be converted for office use.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 13 Residential/Mixed-use

21. Eastern Tower Community Center Developer: Philadelphia Chinatown Development Corporation and JNA Capital, Inc. Location: 10th and Vine Streets Size: 227,000 SF Residential Units: 143 Start Date: 2014 Completion Date: 2016 Investment: $75 Million

Description: Philadelphia Chinatown Development Corporation has helped form an immigrant investor Regional Center that will seek to raise $33 million to fund its Eastern Tower Community Center in Chinatown. The Regional Center is part of the EB-5 program, designed to attract foreign investment to projects which promote economic growth and job creation, and is administered through the United States Immigration and Citizenship Services. The remainder of the funding for the 23-story, mixed-use development consists of a $23 Million New Markets Tax Credit and loan commitment from Citibank and a combination of private equity and grants. The project will include 143 apartments, offices, recreational and retail space, as well as a recreation/event space for the community.

Developer: Pearl Properties 22. The Sansom Location: 1605 Sansom Street Size: 100,000 SF Residential Units: 104 Start Date: June 2012 Completion Date: Summer 2013 Investment: $30 Million Description: Designed by DAS architects, the development includes 104 high-end rental units, as well as ground-floor retail. Centrally located in Philadelphia’s shopping and dining district, the amenity-rich development includes a fitness center, interior bicycle parking, residents’ lounge, and terrace.

Developer: Pearl Properties 23. The Granary Location: 1901 Callowhill Street Size: 310,000 SF Residential Units: 229 Start Date: 2012 Completion Date: Summer 2013 Investment: $80 Million Description: The new structure totals nine stories and includes 229 high-end rental units and more than 20,000 SF of ground-floor retail. Designed by DAS architects, amenities include a fitness and business center, as well as club room and lounge. Shortly after opening, Los Angeles-based Lowe Enterprises Investors bought the building for $120 million on behalf of an investment client.

14 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Residential/Mixed-use

Developer: Brandywine Realty Trust 24. 1919 Market Street Location: 1919 Market Street Size: 450,000 SF Residential Units: Approximately 300 Start Date: Q3 2014 Completion Date: Q4 2015 Investment: $135 Million Description: Designed by Barton Partners, this new mixed-use tower will be 367 feet tall and include around 300 upscale apartment units, 223 parking spaces, 108 bike storage spaces, and 25,000 SF of commercial space. The 28-story tower will be built on a vacant lot on the corner of Market and 20th Streets and will include retail on the ground floor and offices on the second, as well as various amenities and a pool. Planned retail and streetscape improvements, including new trees, benches, and bike racks, will activate both Market and 20th Streets.

Developer: John Buck Company and INDURE Fund 25. 2116 Chestnut Street Location: 2116 Chestnut Street Size: 360,000 SF Residential Units: 321 Start Date: May 2012 Completion Date: September 2013 Investment: $100 Million Description: The residential tower stands 34 stories high and includes 321 rental units, 100 enclosed parking spaces, and 9,000 SF of retail space on the ground floor. It is the first new high-rise rental built in the neighborhood in over a decade. Amenities include a sundeck with lawn, green roof, and outdoor kitchen, as well as a club room and a business and fitness center.

26. John C. Anderson Apartments Developer: Pennrose Location: 249 South 13th Street Size: 65,000 SF Residential Units: 56 Start Date: November 2012 Completion Date: 2013 Investment: $19.5 Million Description: This is a venture between Pennrose and the Dr. Magnus Hirschfeld Fund to create low-income housing for the LGBT community. Designed by Wallace Roberts & Todd, the six-story complex has 56 units. All of the apartments are one-bedroom units and there is 1,800 SF of ground-floor retail.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 15 Residential/Mixed-use

Developer: Gelfand Yardeni Real Estate Development & Management LP 27. 229 Arch Street A Location: 229 Arch Street Boutique Residence Size: 72,300 SF Residential Units: 65 Start Date: December 2012 Completion Date: May 2013 Investment: $20 Million Description: The 65-unit, five-story project has a mix of studio, one-, and two-bedroom units ranging in size from 700 SF to 1,300 SF. Located in Old City, amenities include club rooms, a dog run, and courtyard. The project also includes 4,000 SF of retail.

28. 1601 Vine Street

29. AQ Rittenhouse

Developer: Property Reserve, Inc. Location: 1601 Vine Street Size: 507,000 SF Residential Units: 271 Developer: Aquinas Realty Partners Start Date: Late 2014 (pending entitlements) Location: 2021 Chestnut Street Completion Date: 2016 Size: 60,000 SF Investment: $120 million (media estimates) Residential Units: 110 Description: Located on an existing parking lot across the street from the Mormon Temple currently under Start Date: 2014 construction, the development consists of two projects: a Completion Date: Fall 2014 24,000 SF meetinghouse for The Church of Jesus Christ Investment: $32.7 Million of Latter-day Saints and a new 32-story, 483,000 SF residential tower for Property Reserve, Inc., an affiliate Description: Aquinas Realty Partners purchased the vacant building of the Church. The development will include 258 market- from the Philadelphia Redevelopment Authority in 2012. Plans are to rate rental apartments, 13 townhomes, and 12,000 SF demolish the existing structure and replace it with a 12-story building with of ground-floor retail. Robert A.M. Stern Architects of 110 apartment units, 4,834 SF of ground-floor retail space, an interior New York will design the project, with BLT Architects of courtyard, bicycle storage, and 9,600 SF of expansion space for the Freire Philadelphia serving as associate architect. Charter School, a high school that occupies the building next door.

16 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Residential/Mixed-use

Developer: PMC Property Group 30. 2040 Market Street Location: 2040 Market Street Size: 300,000 SF Residential Units: 282 Start Date: 2012 Completion Date: August 2013 Description: The former headquarters of AAA Mid-Atlantic, the building was acquired by PMC Property Group in 2011. PMC added eight stories to the existing structure and converted the building into a residential mixed-use property with 282 rental units, 150 below-grade parking spaces, and 15,000 SF of retail on the ground floor.

Developer: PMC Property Group 31. 1900 Arch Street Location: 1900 Arch Street Size: 230,000 SF Residential Units: 236 Start Date: Spring 2013 Completion Date: Summer 2014 Description: The project will include 236 luxury residential apartments (one- and two- bedroom units), 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.

32. Tower Place Developer: Tower Investments Location: 1400 Spring Garden Street Size: 300,000 SF Residential Units: 204 Start Date: 2012 Completion Date: January 2013 Investment: $70 Million Description: Phase 1 of the project consisted of the conversion of a former state office building into 204 rental apartments. Designed by H2L2 architects, the building was designated historical, allowing the developer to get tax credits to help offset some construction costs. A second phase will entail the construction of a $100 million, 20-story residential tower that will include 60,000 SF of retail space and is planned for four years from now.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 17 Residential/Mixed-use

33. Goldtex

34. One Riverside Place

Developer: Dranoff Properties Location: 210-20 South 25th Street Size: 167,610 SF Residential Units: 129 Developer: Post Brothers Start Date: January 2015 Location: 315 North 12th Street Completion Date: 2016 Size: 160,000 SF Investment: $85 Million Residential Units: 163 Description: Located at 25th and Locust Streets, with easy access Start Date: 2012 to Schuylkill Banks, the high-rise will offer views of both West Completion Date: Fall 2013 Philadelphia and the river. The new 20-story development will feature 129 apartments, a 1,000 SF cafe, 81 parking spaces, and Investment: $40 Million 49 bike parking spots. Plans call for a 14,000 SF landscaped Description: The project is a loft terrace built over the parking/cafe, along with 6,000 SF of shared conversion of the 11-story former Goldtex residential amenities. shoe factory. Designed by KlingStubbins, it includes 163 rental units and more than 5,000 SF of retail.

Developer: Dranoff Properties 35. Southstar Lofts Location: 521-31 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 will include 85 high-end rental units and more than 10,000 SF of ground-floor retail. Units will include studios, one-, and two-bedroom loft apartments with 10-foot ceilings. The project was designed by Philadelphia- based architect Cecil Baker + Partners.

18 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Residential/Mixed-use

Developer: International Financial Company & Dalian Development, LLC 36. Rodin Square Location: 501 North 22nd Street Residential Units: 293 Start Date: 2014 Completion Date: Q1 2016 Investment: $140 Million (approximately) Description: The development will include a 55,000 SF Whole Foods on the ground floor and 293 luxury apartments above. Designed by MV + A Architects, the development will include parking and 30,000 SF of residential amenity areas, including a swimming pool.

Developer: PMC Property Group 37. Walnut Place Location: 320 Walnut Street Size: 68,460 SF Residential Units: 77 Start Date: 2012 Completion Date: 2013 Description: The six-story building was originally constructed in 1926 and is listed on the Philadelphia Register of Historic Places. The building was converted into 77 rental units and 3,000 SF of commercial space on the ground floor.

38. River Walk Philadelphia Developer: NP International Location: 23rd Street between Market Street and JFK Boulevard Residential Units: 665 Start Date: TBD Completion Date: TBD Description: The River Walk Project is an urban redevelopment that is planned to complement the city’s growth and revitalization along the Schuylkill River. The project, which encompasses over 8.5 acres, will include residential, commercial, retail, hospitality, and other community amenities serving the Logan Square neighborhood and surrounding areas. The project is currently going through the planning process.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 19 Residential/Mixed-use

Developer: MRP Residential and Principal Real Estate Investors 39. 1346 Chestnut Street Location: 1346 Chestnut Street Size: 176,000 SF Residential Units: 220 Start Date: Late 2014 Completion Date: 2016 Description: MRP Residential and Principal Real Estate Investors acquired the property for a reported $33 million in February 2014. The new owners will redevelop the interior of 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. The lower floors of the building will remain retail. This is the Washington, D.C.-based company’s first acquisition in the Center City market.

40. East Market Developer: NREA Development Services Owner: National Real Estate Advisors, JOSS Realty Partners, 41. 2400 South Young Capital, and SSH Real Estate Location: Block between 11th and 12th Streets, Market and Chestnut Streets Size: 650,000 SF Residential Units: 325 Start Date: Summer 2014 Completion Date: Spring 2016 Investment: $230 Million Description: The project will be a combination of pedestrian- oriented retail, new residential rental apartments, parking, signage, and hospitality uses. Phase 1 of the $500 million-plus mixed-use project aims to upgrade Philadelphia’s downtown retail district east of Broad Street. Once demolition of the Developer: Toll Brothers existing structure takes place, 325 rental apartments with Location: 2400 South Street parking below and two new retail buildings with LED signage Size: 235,583 SF totaling 140,000 SF to 150,000 SF will be constructed. They will be designed by BLT Architects and face Market Street. If Residential Units: 127 Phase 1 goes well, developers plan on extending the project Start Date: 2012 and replacing buildings on the 1100 block of Chestnut Street with new stores and apartments, bringing the total residential Completion Date: 2014 count to as many as 1,000 units. Plans for a pedestrian walkway Description: The project consists of 68 townhouses and 59 stretching from Market Street all the way to Chestnut Street will condos, as well as 2,266 SF of retail along 24th Street. The link neighborhoods south and east. There are also plans to open development is near the Toll Brothers’ first Graduate Hospital- service alleys on Ludlow and Clover Streets to through traffic. area project, Naval Square.

20 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Residential

Developer: Toll Brothers Location: 513 South Second Street Size: 151,560 SF Residential Units: 55 Start Date: 2013 Completion Date: Summer 2015 Description: Located at the former New Market site on the eastern hem of Headhouse Square and Front Street, the project will transform the vacant lot into 55 luxury condominiums ranging from one to four bedrooms. The building 42. 410 at Society Hill also will include a courtyard, rooftop terrace, and 110 parking spaces.

Developer: Forest City Residential 43. Museum Towers II Location: 1801 Buttonwood Street Size: 434,878 SF Residential Units: 286 Start Date: 2014 Completion Date: 2016 Investment: $100 Million Description: The existing 300-unit Museum Towers residential complex is set to nearly double in size. Phase 2 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.

44. 500 Walnut

Developer: Scannapieco Development Corporation Location: 500 Walnut Street Size: 178,000 SF Residential Units: 40 Start Date: Spring 2015 Completion Date: 2017 Investment: $150 Million Description: The 26-story “glass-needle” tower overlooking Independence Hall will be designed by Cecil Baker & Associates and will be built on a 18,155 SF site that has been vacant for more than a decade. The amenity- rich building will offer everything from a multi-level, glass-enclosed fitness center to a large outdoor terrace overlooking Independence National Historic Park. It also will include an 80-space, underground, fully automated parking system that stores and retrieves vehicles in less than 90 seconds.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 21 Retail

Developer: Midwood Investment 45. 15th & Walnut & Development Location: 1426-28 Walnut Street Size: 60,000 SF Start Date: Q4 2013 Completion Date: 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 as an anchor tenant, along with other tenants that have yet to be announced.

Name: The Gallery 46. The Gallery Developer: PREIT Location: Market Street between 8th and 11th Streets Start Date: TBD Completion Date: TBD Description: PREIT’s strategy is to incorporate first-to-market fashion retailers and artisanal food and restaurant offerings to become the premier destination in Philadelphia for shopping, dining, and entertainment.

22 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org public space

47. Franklin’s Paine Skatepark 48. Schuylkill Banks Boardwalk

Developer: Franklin’s Paine Skatepark Fund Developer: Schuylkill River Development Corporation Location: Benjamin Franklin Parkway and Martin Luther King Drive Location: South 25th and Locust Streets Size: 75,000 SF Size: 44,500 SF Start Date: October 2012 Start Date: 2012 Completion Date: May 2013 Completion Date: Fall 2014 Investment: $4.5 Million Investment: $17.5 Million Description: The mixed-use public space was designed by Anthony Description: The existing Schuylkill Banks trail cannot be extended Bracali and Brian Nugent with skateboarding in mind and is set southward past Locust Street because the land between the along the banks of the Schuylkill River, adjacent to the Philadelphia railroad tracks and the river becomes too narrow. The City of Museum of Art. The design also accommodates pedestrian and Philadelphia and the Schuylkill River Development Corporation are other uses including seating areas, a 360-degree observation building a 2,000-foot concrete structure that will run parallel to the deck, an amphitheater for outdoor events, and connections to the eastern shore of the river from Locust Street to the new stairtower Benjamin Franklin Parkway and Schuylkill Banks. on the south side of the South Street Bridge.

Developer: Center City District Location: West side of City Hall Size: 120,500 SF Start Date: 2012 50. John F. Kennedy Developer: City of Philadelphia/ Completion Date: September 2014 Plaza/LOVE Park InterPark Investment: $55 Million Location: 16th Street and JFK Description: Dilworth Plaza Boulevard is being transformed from Size: 102,802 SF an inaccessible, multi-level, unattractive, hard-surface 49. Dilworth Plaza Start Date: TBD plaza into a sustainable, Completion Date: TBD well-maintained, green public space with no stairs or barriers Investment: $15 Million from the street. The renovated Dilworth Plaza will add 20,571 SF of new useable area and will include a large lawn, tree groves, a Description: Mayor Michael A. programmable fountain, and space for 400 benches and chairs. Nutter and City Council President Darrell L. Clarke have reached an The underground is being dramatically improved as a new transit agreement that will allow for the rehabilitation of John F. Kennedy gateway, providing entrances to Broad Street and Market Street Plaza, known as LOVE Park. Plans include the sale of the garage subways and the trolley lines. New elevators will make the transit beneath LOVE Park for $30 million. The design features will be levels accessible for the first time. decided through a public process.

Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org 23 acknowledgements

Information Partners Photography & Renderings Alterra Property Group – Leo Addimando & Henry Sullivan Alterra Property Group Aquinas Realty Partners – Leonard Poncia BLT Architects BLT Architects – Heidi M. Thiede Brandywine Realty Trust Brandywine Realty Trust – Gerard H. Sweeney & Paul Commito Cecil Baker & Associates Brickstone Realty – Mark Merlini Chestlen Development Cashman & Associates – Laura Krebs, Michelle Conron and Jacklin Rhoads Children’s Hospital of Philadelphia (CHOP) City Creek Reserve – Dale K. Bills Comcast Chestlen Development – Brook Lenfest Coscia Moos Architects The Children’s Hospital of Philadelphia (CHOP) – Peter M. Grollman Dranoff Properties The Church of Jesus Christ of Latter-day Saints – Blake Rosenthal EwingCole City of Philadelphia Department of Commerce – Dawn Summerville The Franklin Institute City of Philadelphia Department of Parks & Recreation – Mark Focht Franklin’s Paine Skatepark Dranoff Properties – Carl Dranoff & Caitlyn McGrath Gensler Architects The Franklin Institute – Stephanie Santo Greg Benson Franklin’s Paine Skatepark – Josh Dubin Intellectual Reserve, Inc. FringeArts – Dan Comly J. Fusco for Visit Philadelphia Gelfand Yardeni Real Estate Development & Management LP – Kat Sullivan J. Smith for Visit Philadelphia Gibbs Management – Andrew Gibbs JPRA Architects International Financial Company – Odara Nash KieranTimberlake Architects Kimmel Center for the Performing Arts – Edward Cambron & David Thiele KlingStubbins Midwood Investment & Development – Michelle Goldman Midwood Investment & Development MRP Residential – Kristian DeMeo MRP Residential Museum of the American Revolution – ZeeAnn Mason MV + A Architects NP International – Brent Reynolds PMC Property Group NREA Development Services – Daniel Killinger Perkins Eastman P&A Associates – Alan Casnoff & Robert Shaw Post Brothers The Parkway Corporation – Joseph Zuritsky & Robert Zuritsky Robert A.M. Stern Architects Pearl Properties – James Pearlstein Schuylkill River Development Corporation PMC Property Group – Ron Caplan and Arrus Farmer Stantec Post Brothers – Matthew Pestronk Toll Brothers Philadelphia Chinatown Development Corporation – Sarah Yeung Varenhorst Architects Philadelphia Parking Authority – Timothy Thornton & Richard D. Dickson Wallace Roberts & Todd PREIT – Heather Crowell & Haley Samsi Schuylkill River Development Corporation – Joseph R. Syrnick For updates, visit www.centercityphila.org/developments Toll Brothers – Brian Emmons Wallace Roberts & Todd – Antonio Fiol-Silva and Joe Salerno

24 Center City District & Central Philadelphia Development Corporation www.CenterCityPhila.org Center City District & Central Philadelphia Development Corporation 660 Chestnut Street Philadelphia PA, 19106 215.440.5500 www.CenterCityPhila.org

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