PHILADELPHIA | THE LAUREL @ 1911 Walnut | 604 FT | 48 FLOORS

[Plokoon11]

I wouldn't be surprised if there is a new design.

[josef]

Speaking of Rittenhouse Square's opulence, did anyone see this on the Property blog? One of the four townhomes on the 1900 block of "Rittenhouse Square" are for sale and it is.. over the top to say the least.

http://www.phillymag.com/property/20...st-hit-market/

[iheartphilly]

Here it is folks, this is really big news and Summersm called it a few days ago:

http://www.bizjournals.com/philadelp...se-square.html

[Larry King]

Originally Posted by iheartphilly

Here it is folks, this is really big news and Summersm called it a few days ago:

http://www.bizjournals.com/philadelp...se-square.html

That's great. About time this lot got going.

[Philly Fan]

Originally Posted by iheartphilly

Here it is folks, this is really big news and Summersm called it a few days ago:

http://www.bizjournals.com/philadelp...se-square.html

Fantastic!

And a probable upgrade to even greater density!

It doesn't indicate the source of what appears to be a massing study--presumably Southern Land Co.--but it looks like we may see a fairly tall tower on Sansom:

http://www.bizjournals.com/philadelp...=image_gallery

[cafeguy]

Originally Posted by iheartphilly

Here it is folks, this is really big news and Summersm called it a few days ago:

http://www.bizjournals.com/philadelp...se-square.html

They give numbers for the size with and without rezoning... what kind of height are we talking then? The original building was 150 units with a 500 ft height and this is calling for between 270 to 425. Does that mean we might have close to a 1000 footer on our hands here???

[summersm343]

Originally Posted by cafeguy

They give numbers for the size with and without rezoning... what kind of height are we talking then? The original building was 150 units with a 500 ft height and this is calling for between 270 to 425. Does that mean we might have close to a 1000 footer on our hands here???

I believe we're likely looking at a 600 footer here.

[boxbot]

Originally Posted by cafeguy

They give numbers for the size with and without rezoning... what kind of height are we talking then? The original building was 150 units with a 500 ft height and this is calling for between 270 to 425. Does that mean we might have close to a 1000 footer on our hands here???

Castleway never had permission to build the 525 footer they had planned, which would require a variance from this parcel being zoned C4 to C5.

But great news that a developer with a history of getting a recent project up is in charge.

[ConstructStudent]

Looks like the developer is going to be the same developer as 3601 Market.

http://www.bizjournals.com/philadelp...se-square.html

[Philly Fan]

And remember that we're talking about what would effectively be two towers, or an L-shaped tower with a taller wing on Sansom (based on the massing study that accompanies the article).

[McBane]

Originally Posted by McBane

To me, all signs point to a possible sale of the lot. My guess is that a prospective buyer wants to take soil samples. It's akin to buying a home and conducting an inspection - you wouldn't rely on past inspections, would you? It makes me think it's a prospective buyer doing their due diligence. Fingers crossed.

Boom!

[jsbrook]

Originally Posted by iheartphilly

Here it is folks, this is really big news and Summersm called it a few days ago:

http://www.bizjournals.com/philadelp...se-square.html

May the rezoning succeed!

[jsbrook]

Looks like no hotel component, but I wouldn't call this article definitive.

[Jawnadelphia]

You guys called it! Good work. I love this. A 500 or 600 footer here is huuge.

[1487]

this sounds good but there are a lot of "ifs" here so it could be another waiting game. I see they are looking for a partner to fund 90% of the project.

[summersm343]

More on the lot and the development from Naked Philly
http://www.ocfrealty.com/naked-phill...et-redeveloped

[McBane]

Interesting comment from a poster in the comments section of the NakedPhilly article. It's regarding the drawbacks of not upzoning the property:

Also, from a revenue standpoint, you are missing 155 additional units to tax once abatement goes away, plus $300,000 in transfer tax for the initial deal + the 15 transfer tax instances for the lost condos just left on the table. This is foregone revenue that costs the city absolutely nothing other than the legislative effort required to pass a remapping. This part of town is already designed to handle the density here.

It's just too bad that there is no one on the city council that thinks about revenue and business, just taxes and giveaways (see yesterday's "unanimous" vote for paid sick leave).

[boxbot]

Originally Posted by McBane

Interesting comment from a poster in the comments section of the NakedPhilly article. It's regarding the drawbacks of not upzoning the property:



It's just too bad that there is no one on the city council that thinks about revenue and business, just taxes and giveaways (see yesterday's "unanimous" vote for paid sick leave).

At the risk of getting off topic, we're the only developed country in the west that doesn't require employers to provide any paid sick leave. If the government at the federal or state level won't step up, I have no problem with the City doing something in an attempt to bring up the quality of life for those that do business here.

[SJPhillyBoy]

http://www.bizjournals.com/philadelp...t-to-sell.html

[summersm343]

Southern Land Company will close on the lots Thursday or Friday.

http://www.phillymag.com/property/20...eway-lot-week/