Crane Watch: 46-story tower in Rittenhouse Square headlines latest slate of projects in the region
A proposed 46-story tower could rise near Rittenhouse Square at the corner of 19th and Chestnut streets.
The Philadelphia Business Journal recently updated its Crane Watch map, giving a visual representation of development projects in the region that have been proposed, are currently under construction, or have been completed.
It's a mix of residential, industrial and even education-driven development, from a handful of new buildings planned on prime land in Fishtown to a number of projects taking hold in King of Prussia.
One proposed new property has the chance to be a visible part of Philadelphia's growing skyline. At 1826 Chestnut St., where a CVS Pharmacy currently sits, Goodman Properties is proposing a 46-story residential tower that would stand 576 feet tall. The Rittenhouse Square project would have 213 apartments, and the developers would seek to maintain the existing facade of the building, which dates back to 1921 when it was the Aldine Theatre.
Rendering of a $25 million project from Archive Development, as seen from Frankford Avenue.
In Fishtown, several lots in the heart of the burgeoning neighborhood are slated for development. At the corner of Frankford and Delaware avenues, a 78-unit, $25 million project aims to extend and connect the main drag of Fishtown with Delaware Avenue and the river. Archive Development is working on the project, expected to begin in the coming months, and is also planning a $30 million development just blocks away on Front Street.
The project at 1428-1442 N. Front St. is situated next to SEPTA's Market-Frankford Line and would have 114 units.
Also in the same vicinity is 130 W. Girard Ave., which would replace an old Truist bank branch and stand seven stories with 3,500 square feet of retail space a short walk from the Girard Avenue stop on the El.
Outside of the city, King of Prussia is rife with development — offices, residential and a hotel are all in the works. Brandywine Realty Trust has approvals to construct a 220,000-square-foot office building on the corner of Park and First avenues. At 127 Gulph Road, a five-story Marriott Residence Inn is set to replace a portion of the existing Best Western hotel, while the rest of the Best Western is being converted into a hotel called The Prussia Inn. Residential developments with hundreds of units are also in the works in the suburbs. MLP Ventures is planning a 300-unit multifamily development at 2901 Renaissance Blvd. in King of Prussia, and Hanover Co. plans to build 400 units at 111 Presidential Blvd., just off of City Avenue in Bala Cynwyd.
A rendering of the Shreiber School of Veterinary Medicine.
ERDY MCHENRY ARCHITECTURE
Local universities will also see cranes towering above their campuses in the coming months and years. Rowan University held a groundbreaking for what will be New Jersey's first veterinary school a month ago. Once completed in 2025, the school will span 108,000 square feet on the corner of Mullica Hill and Zee roads and carries a cost of $145 million. Saint Joseph's University also has a few projects that will cost hundreds of millions in sum, the most notable of which is a new residence hall. The dormitory, on the corner of Cardinal and City avenues, is set to break ground in the fall and will be the school's largest building on campus.
A courtyard and green space will be incorporated into the new residence hall on the Hawk Hill campus of St. Joseph's University.
SAINT JOSEPH'S UNIVERSITY
Villanova University also recently purchased a parcel along the Schuylkill River in Conshohocken for $11.5 million that will play host to a "best-in-class" boathouse for the school, which had been using a warehouse on the property for its crew teams.
Check out our updated Crane Watch map below or click here to view the full-scale map of local real estate projects. Simply click any location on the map to see the name of the project with the option to view more details on its scope and progress. Check back regularly to see new projects in the works across the region.