PHILADELPHIA | Highrise Development Thread X

[mcgrath618]

Originally Posted by Skang

I recently drove past Schuykill Yards and observed a big drill.

Do you have an approximate location?

[Skang]

Originally Posted by mcgrath618

Do you have an approximate location?

It's between 33rd and 35th street; the street was blocked off.

[PHLtoNYC]

Some good news. Though I couldn't find much on "Zoria Housing".

Vacant apartment tower across from Monk’s Cafe has been sold to a New York developer
https://www.inquirer.com/real-estate/com...ng-rittenhouse-square-sold-20250811.html

After years of decay, a vacant graffiti-covered apartment tower near Rittenhouse Square is finally in the hands of a new owner, New York-based Zoria Housing.

The 17-story property at the corner of 16th and Spruce Streets has been vacant for more than five years, owing to a failed redevelopment project by Main Line-based real estate investor Dovid Daniel.

Zoria Housing did not respond to requests for comment, but the company has retained the building’s previous project architect Stuart Rosenberg of the firm SgRA. He says the company hopes to complete the project in 12 to 18 months.

But Goldstein quickly flipped the property to Zoria Housing. Several Philadelphia-based developers had considered redeveloping the property over the years, but the financials of the historic property are difficult after its long vacancy, the city’s recent multifamily glut, and the relatively small size of the 60-unit tower.

[nemesisinphilly]

Originally Posted by PHLtoNYC

Some good news. Though I couldn't find much on "Zoria Housing".

Vacant apartment tower across from Monk’s Cafe has been sold to a New York developer
https://www.inquirer.com/real-estate/com...ng-rittenhouse-square-sold-20250811.html

After years of decay, a vacant graffiti-covered apartment tower near Rittenhouse Square is finally in the hands of a new owner, New York-based Zoria Housing.

The 17-story property at the corner of 16th and Spruce Streets has been vacant for more than five years, owing to a failed redevelopment project by Main Line-based real estate investor Dovid Daniel.

Zoria Housing did not respond to requests for comment, but the company has retained the building’s previous project architect Stuart Rosenberg of the firm SgRA. He says the company hopes to complete the project in 12 to 18 months.

But Goldstein quickly flipped the property to Zoria Housing. Several Philadelphia-based developers had considered redeveloping the property over the years, but the financials of the historic property are difficult after its long vacancy, the city’s recent multifamily glut, and the relatively small size of the 60-unit tower.

Here is the site for their construction company:

https://zoriaconstructionny.com

Looks like they've done some similar projects in NYC

[PurpleWhiteOut]

https://www.bizjournals.com/philadelphia...res-ego-hall-carlisle-broad-streets.html

Temple has been acquiring real estate around campus. Notably, they just acquired a property that is adjacent to the proposed Legacy on Broad. Either way Temple owns the land of the Legacy/the Standard 3.0. Fry seems eager to expand real estate, so something may happen here sooner or later

Properties they've recently acquired according to the article:
1535-37 N. Carlisle St + corner property immediately north on Oxford
2000 block of N Broad (except 2008 n broad). From my own poking around, they've also been buying properties on 2000 n block of Carlisle in the rear, but they're largely non contiguous for now
3260 n Broad (strip mall shops near the medical campus)

[3rd&Brown]

Originally Posted by PurpleWhiteOut

https://www.bizjournals.com/philadelphia...res-ego-hall-carlisle-broad-streets.html

Temple has been acquiring real estate around campus. Notably, they just acquired a property that is adjacent to the proposed Legacy on Broad. Either way Temple owns the land of the Legacy/the Standard 3.0. Fry seems eager to expand real estate, so something may happen here sooner or later

Properties they've recently acquired according to the article:
1535-37 N. Carlisle St + corner property immediately north on Oxford
2000 block of N Broad (except 2008 n broad). From my own poking around, they've also been buying properties on 2000 n block of Carlisle in the rear, but they're largely non contiguous for now
3260 n Broad (strip mall shops near the medical campus)

I assume Fry is focused on Broad Street because he like big impact but I really need Temple to expand eastward. We are *this* close to having continuous development and infill between Fishtown, South Kensington, and Temple. The only real dead zone at this point is about from the regional rail tracks to 6th Street.

It would be such a huge unlock mentally. When I'm in South Kensington bopping around it never occurs to me that Temple is like 8 blocks due west of me.

[PHLtoNYC]

Looks like 1101 Walnut may be back in play (though not a skyscraper anymore?)

Developer plans 'taste of Rittenhouse' east of Broad Street with new project at former Wendy's site
https://www.bizjournals.com/philadelphia...nut-mixed-use-apartment-development.html

Three years after pausing its plans to build a multifamily high-rise at 11th and Walnut streets, Abrams Realty & Development is starting from scratch.

Instead of an 18-story, 198-unit project, owner Peter Abrams said he’s now envisioning an 11-story building with about 75 apartments and retail tenants occupying the first three floors. While plans are still being formed, Abrams said his Elkins Park-based firm could begin construction by late spring 2026.

Abrams is targeting a significant focus on wellness and sustainability for the reimagined project. He’s strongly considering using mass timber to construct the building and is hoping to target health and wellness tenants for the retail space.

The reduced height of the planned building would bring costs down significantly, a critical component helping the project restart.

Abrams is drawing inspiration from New York’s Remedy Place, a wellness club with ice baths, saunas and hyperbaric chambers, and Soho House, a similar wellness-focused health club.

“We’ve been running numbers and it makes sense,” Abrams said. “If the budget holds, we’re going to do this. And I’m pretty confident that it will.

[mcgrath618]

The reduced height of the planned building would bring costs down significantly, a critical component helping the project restart.

Yes, because now he can do 6 floors of steel/concrete and 5 floors of stick frame, instead of 18 floors of steel/concrete.

Can’t wait to see what fantastic design were presented with for this new project.

[PurpleWhiteOut]

“We want to build the coolest building in Philadelphia,” he said.

If the design is much better than the boring design we thought we were getting, then I'd prefer the shorter, better building. It also states he's looking into potentially using mass timber which we've only seen so far at Penns Gutmann hall

[PHLtoNYC]

Originally Posted by mcgrath618

Yes, because now he can do 6 floors of steel/concrete and 5 floors of stick frame, instead of 18 floors of steel/concrete.

Can’t wait to see what fantastic design were presented with for this new project.

Is that allowed? I thought over 7-stories required a full steel/concrete structure. (7 stories is the typical 2+5 method).

Though I won't hold my breath for this one, I expect a standard design, not an Armani building...

[mcgrath618]

Originally Posted by PHLtoNYC

Is that allowed? I thought over 7-stories required a full steel/concrete structure. (7 stories is the typical 2+5 method).

Though I won't hold my breath for this one, I expect a standard design, not an Armani building...

I'm actually not sure now! I had thought that 1813 Ranstead was a 5-over-7, but I appear to have been mistaken. I am by no means an expert on the codes but I swear I've seen buildings over 7 floors that had 5 floors of timber on top. I'll get back to you (someone else is welcome to correct me in the meantime).

I am fully expecting slop to be built here nonetheless.

[Skang]

It's disappointing that no 500ft building has broken ground, it feels like an eternity since Philly's last 500ft groundbreaking.

[TK2001]

September 2018 and June 2019...I thought 3001 JFK would be finished by now. But if anything the next 500 foot tower that has the best chance of starting is 113 South 19th Street...though they demolished the buildings on site and nothing has happened since. Also where's the updates on Cathedral Square phase 2...as silent as space

[3rd&Brown]

Originally Posted by Skang

It's disappointing that no 500ft building has broken ground, it feels like an eternity since Philly's last 500ft groundbreaking.

They're not breaking ground anywhere really. We're in a recession and well, dodo has slapped tariffs on most construction materials. It's not a Philadelphia specific problem.

[BroadandMarket]

Originally Posted by PurpleWhiteOut

“We want to build the coolest building in Philadelphia,” he said.

If the design is much better than the boring design we thought we were getting, then I'd prefer the shorter, better building. It also states he's looking into potentially using mass timber which we've only seen so far at Penns Gutmann hall

Realistically the design/materials were going to be the same whether it was 11 or 18 floors. As usual, we would have been better off keeping the original buildings with first floor commercial and building a small building on the Wendy's lot. Here's their other work:

[PHLtoNYC]

No additional development plans beyond the "we love Philadelphia" talk, but 210 South 12th St is 2/3 leased, 1-year after opening (pretty good).

New York developer with 36 prime Philadelphia properties is looking for more
https://www.bizjournals.com/philadelphia...nvestments-development-philadelphia.html

The 31-story, 376-unit project at 210 South 12th is about two-thirds leased after opening last summer, according to Midwood Investments President Jeff Dvorett. Salon Republic was recently announced as one of the project's retail tenants and will have 55 salon studios on the second floor of the building. Midwood is close to announcing a food tenant for one of the other retails spaces and is looking for a high-end restaurant to fill another, Dvorett said.

The firm has been "really pleased" with the rate of leases signed and "should be at stabilization pretty soon," Dvorett said.

[PHLtoNYC]

The gateway to Market West is for sale. Its next chapter could transform Center City
https://www.bizjournals.com/philadelphia...market-west-residential-conversions.html

The hulking Centre Square office complex is mostly vacant — an albatross around the neck of Philadelphia’s post-pandemic downtown recovery. While embroiled in a drawn-out foreclosure case, the city’s largest office property is now up for sale.

At 1.76 million square feet, Centre Square could become one of the largest office-to-residential conversions on Market Street. The seeds are already being planted for a swelling downtown population as vacant and distressed office buildings along the corridor are pursued for partial or full conversions into apartments.

[TK2001]

Those future residents will have a FANTASTIC view of City Hall

[Skang]

It’s crazy what’s going on in Philly

[Dale]

You Philadelphians are spoiled for height. I just got back, from Denver, which has added two 500-footers in the last FORTY years!