First Friday fans had better watch out, because parking is getting more difficult in Old City. As development continues to flourish in Philadelphia, we're seeing heaps of surface parking lots get bought up and built up nowadays. This is generally a very a positive thing, since small surface parking lots are almost never the highest and best use for any property, especially in the core of Center City. In Old City alone, we've seen several residential developments sprout in place of surface lots, most recently at 130 S. Front St. at the Adagio Homes project. And given that the developers for this project are proceeding with a second phase of construction, we can infer that the project is working out pretty well thus far. Nb, there's a unit listed for $3.1M in that development.
Adagio Homes on Front St.
Looking toward the Ritz
We were in the neighborhood the other day and happened upon what looked like a relatively new fence at another parking lot less than a block away from the Adagio Homes project. 24 S. Front St. has been used as a parking lot for many years, dating back at least a decade. And it looks like it's still being used as a parking lot, just not for much longer.
To refresh your memory, a building previously stood at this address which was built in 1894 and received historic designation in 1977. A fire in 2004 resulted in its demolition. Five years ago, developers proposed a five-story building at this location, with ground-floor retail and four apartments on the upper floors. Harman Deutsch did the design work for the project, which we imagine will maintain the same appearance as the rendering from half a decade ago.
The construction at 205 Race St. (the project is now called Bridge) has proceeded quickly since we visited last fall. At that point, the construction site was basically a hole in the ground and we were pleased as punch, since the site had enough false starts to cover an entire football season over the last fifteen years. Where there was once a large hole, we now see a large building which will eventually include 146 apartments, over 13K sqft of retail space, and a landscaped terrace on the 5th floor. Check it out:
The retail mix has completely changed at the 3rd & Market intersection over the last few years. Turn back the clock to 2011, and you'll find an AT&T Store on the northwest corner, Pizzicato restaurant on the southeast corner, and Shirt and Suit Corner on the northeast and southwest corner, respectively. Not one of those businesses remain at this location today. On the northeast corner, the historic buildings that housed the Shirt Corner were demolished when it was discovered that they were structurally unsound. An apartment building with a ground-floor CVS has appeared in their place. On the northwest corner, the AT&T store moved out last year.
OCF Coffee House coming soon on the northwest corner
OCF Coffee House, owned by the same company that owns this here blog, is set to open its sixth location at 301 Market St. at the end of next month. The shop will offer coffee, light sandwiches, pastries, and smoothies, like most of the other locations. It's a rather small space though, so it'll focus on take-out business.
The surface parking lot at 218 Arch St. has been in development limbo for about a decade, but now it's looking like something will finally get built there. A reader reached out the other day, noting that heavy equipment was performing some preliminary site work at this property. And since it sits right next door to the wonderful Tartes and we rarely miss an opportunity to enjoy a tasty snack, we figured we'd check it out.