Two projects that could reshape their respective corners
of Philadelphia are scheduled to come before the civic design review committee
next Tuesday.
Grasso Holdings Inc. is presenting its concept for a $70 million, six-story, mixed-use
project that will have 206 apartments, an underground garage
with 194 spaces and 20,000 square feet of restaurant and retail space on what
is known as the old Rivage Site off of Kelly Drive. The project is called Ridge
Flats and Gasso is doing the project in a partnership with Onion Flats.
The two-acre site has been an eyesore for nearly two
decades and its location makes it a naturalgateway to East Falls. The project
would anchor and help define that gateway.
The other development is on the far edges of the Central
Business District at 2400 Market St. and serves as a gateway to that part of
the city as well.
PMC Property Group wants to redevelop the
property into a mixed-use structure as well as add a 19-story extension atop of
the existing four-story building. The developer envisions: the first floor,
totaling 131,407 square feet as office and retail; floors two through seven as
office space totaling 344,332 square feet; and a residential portion totaling
343,258 square feet with 321 apartments.
Known as the Market Place Design Center, a partnership
consisting of PMC Property and Lubert-Adler bought the building in 2014 for $42
million with plans to build a residential extension and turn it into a
mixed-use development. Those plans prompted the lead tenant, a collection of
designers, furniture and other related stores, to relocate.
The Market Place Design Center will eventually move into East Market,
a development now under construction.
Source: Philadelphia
Business Journals
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