Thursday, June 19, 2014

Three New Towers in Philly's Logan Square?

by Natalie Kostelni, Staff writer for the Philadelphia Business Journal
A development company from Minnesota is proposing to construct three towers on a Center City site long known as River City — a grandiose plan that entailed constructing a whopping 15 million square feet.
NP International has great ambitions for the property at 23rd and Arch streets but nothing on that scale.
It wants to build a 42-story tower and two 21-story structures that would have a hotel fronting John F. Kennedy Boulevard as well as space for condominiums, apartments and retail. The developer has quietly been working for months with the Logan Square Neighborhood Association on the project ­— now called River Walk — and went before the Philadelphia Planning Commission last week.
“They have been responsive to all of the needs and concerns of their near neighbors,” said Ed Panek, chair of the neighborhood group’s zoning committee, in an interview. “They gave them the opportunity to preserve as many views as possible.”
This is just one project Logan Square is grappling with. The neighborhood has become a hotbed of development activity and, as Panek said, he’s sitting on “$2 billion of property development.”
Aside from River Walk, Logan Square is reviewing:
  • A proposal from PMC Property Group to construct a 26-story tower at 23rd and Cherry streets.
  • Brandywine Realty Trust’s proposal to construct a 28-story mixed-use building at 1919 Market St.
  • The redevelopment and capital improvement project at Park Towne.
  • The ongoing construction of 1900 Arch St., an apartment building by PMC Property Group.
  • Comcast Corp.’s proposed Innovation & Technology Center.
  • The construction of Museum Towers II, a 16-story apartment building.
  • The proposed redevelopment of the former family court building.
Other projects are already underway, such as the Mormon temple, the proposed 32-story apartment complex and meeting house by the Church of Jesus Christ of the Latter Day Saints, among others.

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