New Construction Projects in Philadelphia
When living in a large city like Philadelphia it can be difficult to see all the new and upcoming real estate construction. With the demolition of old buildings to the construction of newly renovated complexes, let LYL Realty give you the scoop on what’s to come!
Just North of Broad Street is the newly constructed six-story multifamily apartments on the corner of Callowhill. The development broke ground in early 2016 with co-partners Hanover Co. and Parkway Corp. The bottom of the building will contain retail opportunities. With construction almost complete, tenant applications are also being accepted. The hopes for these new apartments is to start bringing Center City’s density up Broad Street.
Further toward Center City is the renovation an old parking garage located in the Avenue of the Arts section of Broad. The parking garage will be turned into a Cambria Hotel and will hopefully bring more tourists and business partners to the area. Pearl Properties broke ground in 2016 and is expected to be finished early 2017.
How could anyone miss Philadelphia’s newest skyscraper? A project expected to open in 2017 is the new Comcast Innovation and Technology Center. The new building will stand 172ft taller than the previous Comcast Center and have a remarkable 59 stories. The building will be occupied by 200+ luxury hotel rooms, a vast amount of retail space, and a top floor restaurant with a view of the city.
After months of debate and fights with the zoning board, the Toll Brothers has revealed their proposal for a 29-story tower filled with condos and retail opportunities on Sansom Street. To start the construction of this massive building 5 historic buildings will be torn away but not forgotten. It is too have a modern feel with brick and metal exterior to still keep the history of the street alive. The project is not expected to be concluded until 2019.
With the new construction going on, some have felt that the history of Philadelphia was being forgotten. In most cases, significant historic buildings are being salvaged or just renovated for different use. With the changing skyline of our city we are still excited to see where it all goes. But don’t forget, when it’s time to find a new place to live, whether you are looking to buy or rent, LYL Realty Group is here to help you every step of the way!