Developer Pearl Properties plans to construct a new, 49 floor residential tower in Rittenhouse Square, Center City. The building will stand 567 feet tall and include 183 apartments. 55 Parking Spaces are also included in the project. The project is taller than the under construction Arthaus on South Broad Street, but shorter than the under construction Laurel just a block away, making g this building the Laurel’s slightly smaller sibling. The developer, Pearl Properties, also built two other skyscrapers in the area in the last few years, the Harper is just a block from the future tower and The Beacon overbuild is in the area as well. This is becoming Philadelphia’s version of Billionaire’s Row.
Per a new zoning permit, this project has actually been INCREASED in size!! The floor count has gone from 49 to 57, and the height from 567 to 660!! The residential count has gone from 183 to 215, and there will now be 65 off site parking spaces as well as 67 bike spaces. Usually, with projects like these, they only get downsized, so a height increase is truly spectacular! And, this developer has a very good track record, and with permits in hand, I wouldn’t be surprised if construction starts this summer.
It seems that it is official: a user on SSP walked by the site, and confirmed that permits were posted on site and all tenants were vacated. Additionally, they claimed that the permit called for a 57-floor height, meaning that this height increase seems to be legit!
