Seven Multifamily High-Rises under Construction in Philadelphia
Philadelphia boasts an endless amount of beautiful residential spots, and this city is gaining more luxurious developments with great views. Many high-rises are currently in the works, but here are our top 7 interesting multifamily high-rises that are currently under construction!
1. Vue32
- Developer: Radnor Property Group
- Expected Completion: August 2017
- Neighborhood: University City
Located in University City, this $55 million development is primarily catered to Drexel grad students and faculty, as well as young professionals in this area. This 16-story project includes two phases, and the first phase includes 164 units. The second phase will include 12 two-bedroom condos. Vue32 will feature a rooftop terrace, fitness center, conference rooms, and a club lounge. Units start at $1,800 a month.
2. The Ludlow at East Market
- Developer: National Real Estate Development
- Expected Completion: 2017
- Neighborhood: East Market
Part of the $600 million mixed-use project at East Market, this 17-story apartment complex includes 322 rental units. Amenities include a coffee bar, a rooftop lounge, yoga studio, dog grooming station, and more. This development is perfect for those who work downtown and have active lifestyles.
3. The Beacon
- Developer: Pearl Properties
- Expected Completion: Summer 2017
- Neighborhood: Rittenhouse Square
Formerly Brown Brothers Harriman investment bank, this luxury complex will be located right above Under Armour. It features a large rooftop deck, catering kitchen, a business center, TV and club room, and some units will include balconies and terraces. The Beacon is a 14-story tower right in the center of all the shops and restaurants in Rittenhouse, and it will have 98 apartments. Because of its location, one bedrooms start at $2,150.
4. The Divine Lorraine
- Developer: EB Realty
- Expected Completion: Summer 2017
- Neighborhood: Fairmount
This abandoned, historic hotel in a previously run-down neighborhood is now being transformed into a modern apartment complex that includes 101 units and restaurants and shops on the main level. In addition, there is plenty of closet space, a fitness center, pool, and more. One bedrooms start at $1,325 which is the least expensive out of all of these on our list. The annex beside the apartments will be a speakeasy and boutique hotel.
5. 500 Walnut
- Developer: Scannapieco Development
- Expected Completion: Summer or Fall 2017
- Neighborhood: Independence Hall/Washington Square
The most expensive on our list, 500 Walnut is a 26-story luxury condominium that will be finished by this fall. The penthouse was sold for almost $18 million, which makes this the most expensive residential sale in Philly ever. As expected, the units come with a hefty price tag. They are selling for $1,100 to $2,000 per square foot, so this area will definitely be the most pricey. 500 Walnut overlooks Independence Hall and is close to several dining spots.
6. 1213 Walnut
- Developer: Goldenberg Group and Hines
- Expected Completion: Fall 2017
- Neighborhood: Midtown Village
Another 26-story tower is coming to our city, but this one is right in the heart of downtown. Located in Midtown Village, 1213 Walnut is very close to Rittenhouse, as well as the Gayborhood. In addition, there are endless dining options in this area. There will be over 300 units, an elevated dog park, and of course, a rooftop deck. However, there is no parking lot for residents, so this complex is catered to those who prefer to walk or bike and work downtown. Studios start at $1,819 and one-bedrooms start at $1,950.
7. The Hamilton
- Developer: Radnor Property Group
- Expected Completion: Summer 2018 for Phase I
- Neighborhood: Logan Square
This two-phase, $130 million project is a 10-story building with nearly 600 units. Very close to the Community College of Philadelphia, this development is catered to CCP students and Drexel medical and nursing students, as well as Philadelphia professionals. The first phase of the Hamilton is a 10-story tower with 290 units, while the second phase is 16 stories. The Hamilton features underground parking, a communal kitchen, library, community plaza, rooftop deck, and 3,3000 square feet of retail.