PHILADELPHIA | The Freeman Condominiums @ 1810 Chestnut | 312 FT | 26 FLOORS

[Redddog]

Originally Posted by chimpskibot

Where are you getting the info that the two buildings next to Boyd’s will be demolished? Do you just mean a partial demolition? The article said the developers interest in keeping the facades at least.

I think he means the buildings on Samson &19th for the new high rise.

[summersm343]

Originally Posted by Jayfar

That’ not at all what is stated in today’s Inquirer article of the preliminary plans that were shared with CCRA this week.

Do you have access to the Philadelphia Business Journal? I was quoting the PBJ but they just updated the article with comments from Astoban.

[summersm343]

Plans emerge for 20-story residential tower near Rittenhouse Square

UPDATE: This story has been updated with comment from Astoban Investments and to clarify potential plans for the former Freeman's auction house building.

Philadelphia developer Astoban Investments has an agreement to buy two buildings at 1812-16 Chestnut St. and is considering building a combination of condominiums and apartments above them.

Details are still being finalized but the development could stand around 20 stories tall, Center City Residents Association President Richard Gross said. A representative from Astoban Investments said the development could also include a retail component.

The two buildings are owned by the Philadelphia Federation of Teachers, which confirmed the agreement with Astoban. Demolition permits were filed for both buildings earlier this spring. The representative from Astoban Investments said it considered demolishing the buildings as part of the due diligence phase before acquiring the buildings, but now is more likely to build above the buildings.

A spokesperson for the Federation of Teachers declined to share the sale price.

Purchasing the two buildings, which sit immediately east of Boyds department store at 1818 Chestnut St., allows Astoban to expand its planned project at 1810 Chestnut St., the former Freeman’s auction house headquarters. That proposal calls for 19 stories built above the existing six stories of the historic building. It would have had 19 residential units and commercial space up to the fifth floor.

A representative for Astoban Investments said the development at 1812-16 Chestnut St. could be similar to Astoban's plan at the Freeman's building, which was delayed due to the Covid-19 pandemic and increasing costs. Astoban has been renovating the interior of the Freeman's building for the past year, the representative said. As of now, that project is moving forward, but plans could change in the coming months. Astoban is considering continuing with both projects, or combining them into one.

Article behind paywall here:
https://www.bizjournals.com/philadel...overbuild.html

[Skang]

Question , Are they keeping the same rendering? Or there Proposing a new tower for this site ?

[summersm343]

Originally Posted by Skang

Question , Are they keeping the same rendering? Or there Proposing a new tower for this site ?

Per the PBJ article, looks like they’re either proposing a new tower, or combining the two projects into one tower. They haven’t finalized plans yet.

[BroadandMarket]

The Center City Residents Association (CCRA) reports that the developer is going to try to preserve the facades of the union buildings and the historic Freedman’s auction house.

“The good news is they’re not being torn down,” said Richard Gross, president of CCRA. “Boyd’s is next door. The Bellevue is across the street. We want this project to reflect the beautiful historic context of that street. [Shaaban] understands that and he’s willing to negotiate with us.”

https://www.inquirer.com/real-estate...-20240523.html