Category high rise

Another apartment high-rise for Philadelphia on the Delaware River Waterfront?

Proposed high-rise for Philly’s Delaware River Waterfront

Maybe, maybe not.

First, the proposed building exceeds the height limit set by the newly adopted waterfront master plan. The current limit is 100 feet for this parcel, and this building is looking to go as high as 200 feet.

Second, there is the issue of who will be responsible for repairing/developing Pier 40. The developer wants to “donate” it to the city, but that would still come at a cost ($3M just to take it down). My guess is that this will not happen.

Third, the city wants the developer to not only take ownership of and repair Pier 40, but they want it to be a well thought out plan that would benefit the public. Again, not sure if the developer will go for this, even if they get the height exception approved.

There are a lot of “what ifs,” but the good news is that developers are anxious to build along this stretch of riverfront land.

More rental high-rises are being built in Center City and University City

Rendering of Cira Center South

You have all heard me preach before that rental projects are here to stay … for the foreseeable future, that is.

As such, here is more proof that new rentals are in high demand in Philadelphia. 1919 Market St is about to get started, and it looks like Cira Center South is finally going to get built as well.

Very positive news for our local economy and the strength of Philadelphia’s downtown market!

New high-rise planned for 20th & Chestnut

Inga Saffron has been a very well respected architecture critic in Philadelphia for years. I have always been a fan of her expert opinions, and respect what she has to say.

In this case, I may not agree with everything she says about the project, but then again I’m in the business of real estate (not architecture). This project will be a great addition to this section of Rittenhouse Square; plus, apartments are in high demand these days in Philadelphia.

Please read on to learn more about Philadelphia’s first new skyscraper since the recession began.