Southern Land Co., the developer of a proposed mixed-use
property along the 1900 block of Walnut St. in Center City, has withdrawn an
application to raze buildings on its site.
The company said in a statement that it will retain the
Rittenhouse Coffee Shop after meeting with representatives from the
Preservation Alliance and the Center City Residents’ Association. Applications
for the Warwick apartment building and Oliver Bair funeral home will remain in
place, the developer said.
“ Since acquiring the properties in February, Southern
Land has met with many important stakeholders as part of our mission to engage
the community and create a vibrant project that will bring life back to a long
vacant property at an iconic location,” the company said. “During these
discussions, CEO Tim Downey and Development Director Dustin Downey repeated
their desire to develop the coffee shop property and retain its most important
elements. The withdrawal of the coffee shop application reflects this commitment.
The firm looks forward to presenting a plan that will balance preservation
ideals with economic feasibility.”
The company said it will continue to work with interested
parties as it finalizes its plans for the high-profile parcel that overlooks Rittenhouse
Square.
Southern Land bought the site in February and anticipates
constructing a tower with condominiums and apartments as well as retail space.
The company still is working out what the split would be between the units.
Retail will cover two or three levels and face Walnut and Sansom streets.
It’s a project that Tim Downey said in an earlier
interview that it may be "the most exciting project we may do in my
lifetime. Spots like that don’t come by but once in a lifetime. We’re so
worried about how beautiful it is that we keep tweaking and working on it. At
some point, I have to let go of it.”
Source: Philadelphia
Business Journal
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