PHILADELPHIA | Highrise Development Thread X

[TK2001]

LED lighting can often look strange in camera shots...it's just because of the mixture of the digital technology and lighting. Our eyes (at times) see LED's way better than cameras...which to me as a photographer is shocking, but most definitely true. LED's will pick up better on camera's compared to phones. Also a tip for phone photographers, hold your phone as still as possible at night. You'll get a more fine and sharp shot, as the phone's automatic settings put a slightly higher shutter during the nighttime to capture a better frame. When I say still, in that moment you should see yourself as a tripod, it will help. Also tripod...that'll compliment the men

[TK2001]

Comcast 2 Red White and Blue by Philly SkyGuy, on Flickr

I also noticed 2 LP's lighting has been off for a bit. Hopefully it's for a lighting upgrade

[TK2001]

Philadelphia skyline from Westville by Philly SkyGuy, on Flickr

Philadelphia skyline from Westville, NJ by Philly SkyGuy, on Flickr
A little over an hour ago

[TK2001]

Philadelphia skyline April 3, 2018 by Philly SkyGuy, on Flickr

Compared to when the lighting was first being tested on the Comcast Technology Center

[TK2001]

Hey Comcast
Philadelphia skyline Comcast edit by Philly SkyGuy, on Flickr
Why not do this lighting!?

[PHLtoNYC]

Arthaus sales have been weak for a multitude of reasons, but this recent shift may be a sign that Center City is ready for its next high-rise condo. (Paging Pearl and Southern Land Co.)

'We're on fire right now': With Arthaus on a hot streak, Dranoff lists penthouse at $7.25M
https://www.bizjournals.com/philadelphia/news/2026/02/14/arthaus-penthouse-sale-avenue-arts.html

Following a flurry of condo sales at Arthaus to kick off 2026, developer Carl Dranoff has decided to actively market the first of its three penthouses.

The 4,378-square-foot unit, spanning the full 42nd floor of the building at Broad and Spruce streets, is listed for sale at $7.25 million.

The developer said he's encouraged by the momentum Arthaus has seen this year. Deals were struck for six units totaling over $15 million in the first six weeks of 2026, he said, leaving the building more than 50% sold.

[PHL10]

Originally Posted by PHLtoNYC

Arthaus sales have been weak for a multitude of reasons, but this recent shift may be a sign that Center City is ready for its next high-rise condo. (Paging Pearl and Southern Land Co.)

Great news. I can’t say if it played a role or not, but Broad Street was a stretch that seemed especially impacted by Covid and the aftermath. Lately that stretch seems much more vibrant despite the closure of UArts. It also seems that the new administration has had an impact on curbing the dirt bike/ATV racing, at least by my perception.

[TK2001]

Apparently the Comcast towers are orange tonight
Comcast Center lighting by Philly SkyGuy, on Flickr

[Justin7]

Originally Posted by TK2001

Apparently the Comcast towers are orange tonight

Looks a little pinkish in the photo, but it was clean Flyers-ish orange (had to look up if it was hockey season). Either that or a Netherlands fan grabbed the controls.

[3rd&Brown]

Remember this when the Durst Organization says it's not financially viable to develop at Race & Delaware Avenues.

It's somehow viable, however, to develop in the parking lot of a Walmart in far South Philadelphia.

[PHLtoNYC]

Good to see a second life for these towers, but I can't help but laugh at Councilman Young's proposal to ban new housing at the Hahnemann site based on hopeful speculation of future office demand, meanwhile, the current office space can't even be filled.

The foot traffic from a hotel will help that corner. That barren plaza in front of 1515 Market needs to get fixed up next. The area needs a dog park.

Centre Square office complex under agreement to sell for large-scale redevelopment
https://www.bizjournals.com/philadelphia...-under-agreement-sale-redevelopment.html

PMC Property Group and Dean Adler are under agreement to purchase the 1.76 million-square-foot Centre Square office complex and plan to undertake a major redevelopment of the property's two towers adjacent to City Hall.

The partners plan to convert the mostly vacant office space in Centre Square's East Tower into apartments and a high-end hotel, according to Adler. A portion of the West Tower would remain office space following renovations, with the remainder of the building converted to apartments.

[Redddog]

Originally Posted by PHLtoNYC

Good to see a second life for these towers, but I can't help but laugh at Councilman Young's proposal to ban new housing at the Hahnemann site based on hopeful speculation of future office demand, meanwhile, the current office space can't even be filled.

The foot traffic from a hotel will help that corner. That barren plaza in front of 1515 Market needs to get fixed up next. The area needs a dog park.

Centre Square office complex under agreement to sell for large-scale redevelopment
https://www.bizjournals.com/philadelphia...-under-agreement-sale-redevelopment.html

PMC Property Group and Dean Adler are under agreement to purchase the 1.76 million-square-foot Centre Square office complex and plan to undertake a major redevelopment of the property's two towers adjacent to City Hall.

The partners plan to convert the mostly vacant office space in Centre Square's East Tower into apartments and a high-end hotel, according to Adler. A portion of the West Tower would remain office space following renovations, with the remainder of the building converted to apartments.

This is HUGE!

[UrbanRevival]

Originally Posted by PHLtoNYC

Centre Square office complex under agreement to sell for large-scale redevelopment

Excellent news. Combined with the mega-conversion that's taking place a hop, skip and a jump away at the Wanamaker Building, that's going to help create a really solid rise in residential/hospitality activity in the City Hall area.

Given the macro trends right now in real estate and multifamily slowing dramatically, demand in Center City really seems to be far more resilient than anyone probably thought possible.

[bigfish]

I work in the building directly next to Centre Square and I can clearly see into the windows of the offices for the South tower. I will let people know if I see any construction through the window. This will be a big improvement to the current dead zone around the clothespin.

[phishtown]

Originally Posted by UrbanRevival

Excellent news. Combined with the mega-conversion that's taking place a hop, skip and a jump away at the Wanamaker Building, that's going to help create a really solid rise in residential/hospitality activity in the City Hall area.

Given the macro trends right now in real estate and multifamily slowing dramatically, demand in Center City really seems to be far more resilient than anyone probably thought possible.

Yeah it's interesting. I hear that the on macro trend is that remote work is declining, but Philly keeps removing office space for more apartments, so where are all of these new people working? Hey, if it works, it works.

[el don]

Originally Posted by phishtown

Yeah it's interesting. I hear that the on macro trend is that remote work is declining, but Philly keeps removing office space for more apartments, so where are all of these new people working? Hey, if it works, it works.

I too would like to know. Does anyone have any insights on this?

[Radio5]

Originally Posted by el don

I too would like to know. Does anyone have any insights on this?

A couple office buildings turning into apartments is such a small dent. There's a glut of office space still (in most cities). Office will never be what it was. I imagine over time there will be need for more office, but we're pretty far off.

[mcgrath618]

If Philly ever needs new office space, we still have empty lots at 8th and 13th on Market that would be prime.

[Redddog]

Originally Posted by Radio5

A couple office buildings turning into apartments is such a small dent. There's a glut of office space still (in most cities). Office will never be what it was. I imagine over time there will be need for more office, but we're pretty far off.

It's about money. Corporations that were pushing people back into the workspace after covid because they were still holding leases. When the leases wear off, and they know they can get away with no offices (due to WFH), they're gonna rethink the lease renewal. Government is the only acceptation because they own the properties they work from.

That's in finance, at least.

[Redddog]

Originally Posted by mcgrath618

If Philly ever needs new office space, we still have empty lots at 8th and 13th on Market that would be prime.

Those spots are gonna be for corporate HQs - at least 13th & Market. I'm still holding out for a Plaza type lux hotel with lux retail and a venue space for 8th.