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Old Posted Feb 4, 2015, 12:12 AM
jsbrook jsbrook is offline
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Join Date: Aug 2014
Location: Bala Cynwyd
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Quote:
Originally Posted by iheartphilly View Post
I'm of the mindset that they have enough experience with highrise condo from their NY portfolio to build a successful product, even in the Philly market. While they are considered a "luxury home builder" that brings cachet with it by virtue of their name (Toll Brothers), maybe they couldn't stomach the risks associated with one in Philly and the numbers didn't work for 1911 Walnut since they ultimately have to answer to shareholders. Maybe they were thinking Residences at Ritz Carlton by City Hall still had unsold units. In any case, I think it's a huge miss opportunity since Rittenhouse Square and luxury could go hand in hand. Plus, you got the one of best parks, great dining and shopping in this part of Philly.
It's ok. It doesn't need to be them. I see things actually moving forward on that lot even if Southern Land Co. flips it and someone else does it. I think (hopefully) the tide has turned as far as the upscale Philly real estate market.