Jan 13, 2023 - News

3 Philadelphia development projects to watch in 2023

Rendering of Park at Penn's Landing.

A rendering of The Park at Penn's Landing. Courtesy of Delaware River Waterfront Corporation

Beyond the Bellwether District, several big-time developments are underway in Philadelphia. Here are a few we're keeping our eyes on:

1001 South Broad St: This $305 million megaproject broke ground last year and will bring more than 1,100 residential units to the intersection at the end of the Avenue of the Arts.

  • Spanning an entire city block, the development includes a series of interlocking towers reaching as high as 15 stories with commercial space on the ground-level, per Philadelphia YIMBY.
  • The project is expected to be completed in 2025.

The Park at Penn's Landing: Once completed, the 11.5-acre space on the Delaware River Waterfront will include a pavilion, stage, amphitheater, cafe, woodland-inspired playground, and gardens.

  • The park will include a cap over part of Interstate 95 to reconnect Old City with the waterfront, Billy Penn reports.
  • Led by Delaware River Waterfront Corporation, the estimated $225 million project was delayed for two years because of the pandemic, but construction is expected to begin in the coming months and be finished by 2026.

4601 Market St.: The Provident Mutual Life Insurance Building was transformed into a health and education campus after the city abandoned plans to relocate Philadelphia Police headquarters there.

  • Developer Iron Stone Real Estate Partners acquired the building from the city for $10 million in 2019 and plans to build more than 1,200 apartments in the surrounding area.
  • The proposed housing development is the largest in that part of West Philadelphia in a century, per the Inquirer.
  • Iron Stone didn't respond to Axios' request for comment on the project timeline.
avatar

Get more local stories in your inbox with Axios Philadelphia.

More Philadelphia stories