PHILADELPHIA | Broad + Pine | 202 FT | 15 FLOORS

[PHLtoNYC]

Been a while, small update within an article. Is this finally moving forward?

Why is it so hard to build family-sized apartments in Philadelphia?
https://www.inquirer.com/real-estate/hou...amily-housing-philadelphia-20231023.html

Other developers say the idea there isn’t demand among higher income Philadelphians is antiquated. In submarkets like Northern Liberties or parts of Center City, there is an appetite for apartments for families. That’s why Dranoff is planning two- and three-bedroom apartments at Broad and Pine Streets.

“People rent because they can make temporary decisions and bide their time, but they can’t fit into a one-bedroom apartment,” Dranoff said. “So I think there’s going to be more of a trend to have larger apartments.”

[PHLtoNYC]

Looks like this project is officially dead. I wonder why Dranoff was unable to get his 14-story building built?

Dranoff joins Dwight City Group in redevelopment of UArts' Anderson Hall
https://www.bizjournals.com/philadelphia...wight-city-group-avenue-of-the-arts.html

The prominent Philadelphia developer is joining Dwight City Group as an investor on the apartment conversion of Anderson Hall at 333 S. Broad St. In addition, the CEO of Dranoff Properties is also contributing an adjacent parking garage he owns at 337 S. Broad St. to the project. Dranoff's property at Broad and Pine streets will add three levels of parking for residents of the redeveloped Anderson Hall property, along with extended ground floor retail space.

Dranoff previously had plans to build a 14-story, 91-unit apartment building at the 337 S. Broad St. property. The city in 2022 granted zoning permits for the estimated $100 million project, according to records, but construction never moved forward.

[BroadandMarket]

Cool so he evicted a Starbucks and Sushi place for 5 years for no reason at all and left us with a boarded up eye sore.

[mcgrath618]

Great. What was a perfectly fine retail location 5 years ago (it was a Starbucks, right?) has been sitting fallow for who knows how long now for nothing.
-edit- oops I should've refreshed before posting

[PHL10]

Originally Posted by mcgrath618

Great. What was a perfectly fine retail location 5 years ago (it was a Starbucks, right?) has been sitting fallow for who knows how long now for nothing.
-edit- oops I should've refreshed before posting

Don't forget the garage was active as well. Not that a garage is the greatest of uses but it was a nice pre-war example.

[PHLtoNYC]

Anyone know why his project never materialized? Is he still reeling from Arthaus?

[PHL10]

Photo from this morning - the sign still stands, documenting this sad history.

[Londonee]

Originally Posted by PHLtoNYC

Anyone know why his project never materialized? Is he still reeling from Arthaus?

It just seems insane that the guy who basically bills himself as the Mayor of South Broad Street - he's even running the relandscaping/median development project - would just leave this building to rot like this. Can he do some sort of a decorative wrap? Could he just rehab the retail spaces and do short term leases?

[summersm343]

Yeah, with that news, this one is officially cancelled then. Bummer!