Dranoff set to take next step in Royal Theater development

Dranoff Properties is readying for its next step in the redevelopment of the Royal Theater, a roughly $20 million mixed-use project that will fill in a decades-long blemish along the 1500 block of South Street.

The developer anticipates submitting an application this spring to the Philadelphia Historical Commission to demolish the rear portion of the property to make way for the construction of 45 apartments, 7,000 square feet of retail space facing South Street and an underground parking garage. Dranoff late last year received zoning approval for the project and support from the South of South Neighborhood Association.

The property is owned by Universal Cos., Kenny Gamble's real estate firm. If all goes as planned, Carl Dranoff said he will look to begin construction late summer or early fall.

The project is long overdue. As South Street and the surrounding community has been steadily revitalized with residents and retail, the Royal Theater has been one of the last sites to get developed and has been dragging that part of the street down.

"This is huge," said Laura Vidas, chairwoman of the South of South Neighborhood Association. "It's really great to see the Royal get developed. Between Broad and the Royal, there has been tremendous growth in business and the Royal is a really large gap in that corridor. It's a great project and we're really excited. We think this is really going to be a crown jewel of South Street."

The Royal closed in 1971, hasn't been used since and is in disrepair. "It's not like the Boyd theater with details, trims and palatial ornamentation," Dranoff said.

It was constructed in 1919 and is listed on the National Register of Historic Places. Dranoff will preserve the structure's facade and incorporate it into the retail portion of the project. Dranoff plans to have an upscale grocery and restaurant in the space. The apartments will be constructed in the rear of the building that is being torn down.

The project is not far from Dranoff's other developments along South Broad such as Southstar Lofts, 777 South Broad and Symphony House. Next up is the construction of a 47-story SLS International Hotel and Residences at Broad and Spruce streets. Demolition work and the environmental abatement is scheduled to begin this month on that project.

Source: Philadelphia Business Journal