It's been more than a year since we last visited the 22nd & Walnut intersection, though we should clarify that we mean that from a purely journalistic perspective. In point of fact, we find ourselves at this intersection several times per week, which means we've been watching as five mansions have taken shape on what was once a surface parking lot at the southeast corner. When we were here last year, construction was just getting underway and a hole in the ground was the only evidence of the construction to follow. Needless to say, there's been a ton of progress since then.
The developers have dubbed this project Walnut Estates and the first phase is now approaching completion. And wouldn't you know it, all five houses are already spoken for! You may or may not be able to tell, but these are monster homes, each with 5,000 sqft of interior space, 4 bedrooms, 4 full bathrooms, 2 half bathrooms, an elevator, and two-car parking. Prices reflect the size and location, ranging from $2.25M to $2.5M. Yowza.
The second phase of this project entails the construction of a mixed-use building at the corner. You can see in the image above, construction is now moving on this building, with the first floor framed out in cinderblock and steel. Assuming plans haven't changed from a year ago, this building will ultimately rise five stories, with retail on the ground floor and condos above. This old rendering may or may not show what's to come, though it looks like a fairly accurate depiction of the nearly completed homes.
This is already a successful project, with buyers coming forward for the entire first phase, so it clearly makes sense from a business perspective. And as we've said many times in the past, virtually any project is an upgrade over a surface parking lot, especially in the heart of Center City. That being said, we still find ourselves wishing for something much taller and much denser here, given the location. Oh well, maybe the next time around.