When we think of Toll Bros., we think of condos. Projects from this developer in Philadelphia have included Naval Square, Stamper Square, 2400 South, and a now under construction tower on Jewelers’ Row. But Toll Bros. is a huge company and also has a rental arm, and that business is finally dipping a toe in the Philadelphia market. This effort will take place at the corner of Broad & Noble, on a property that’s currently used as a surface parking lot.
The project came before the Civic Design Review board this month, which means we have all the pertinent details of the project. The building will rise in an L-shape, with an 18-story section running perpendicular to Broad Street and a 13-story section running parallel. The project also calls for two retail spaces, one at the base of the 18-story section of the building and the other in a two-story area in the middle of the site. That part of the building will be set back from Noble Street, creating a public plaza that covers several thousand square feet on the southern side of the property. As you might expect, there’s also a parking component, with 107 spots over two levels underground. Here, allow these renderings from Barton Partners to give you a better sense of what we’re talking about.
It’s not news that North Broad Street has seen a staggering uptick in development over the last few years, with numerous projects currently under construction and several more in the pipeline. This particular section of North Broad recently experienced a significant change, as a pair of surface parking lots were transformed into the Hanover North Broad buildings at two corners of Broad & Callowhill. And it’s undergoing another transition as we speak, as the iconic Inquirer Building gets completely renovated, not into a casino, but into the new headquarters for the Philadelphia Police Department. We have a feeling that a few of the 368 units in the Toll Bros. building will ultimately be occupied by people working across the street- after all, a short commute is truly amazing if you can swing it.
The other aspect of this project that bears mention is its public plaza and the way that space will interact with the adjacent entrance to the Rail Park. This unique public space opened about a year and a half ago and should only grow in popularity in the years to come as the word gets out. Noble Street is the main entrance to the park, and to be honest, today it isn’t exactly a welcoming walk alongside a surface parking lot. Once this building gets built and establishes another public space leading right to the Rail Park entrance however, we imagine it will greatly increase exposure and theoretically lead to more funding as the Rail Park seeks to expand toward its final phase size.