Scannapieco Development Corporation recently announced plans to build 500 Walnut, an ultra-luxurious residential building in Old City. With construction set to begin in spring of 2015, the historic neighborhood gears up to welcome what is expected to be the most revolutionary residential concept yet. We caught up with Tom Scannapieco to find out more about the unprecedented 26-story building, scheduled to open in 2017.
This isn’t your first experience with luxury buildings. What do you think are the key drivers to a building’s success in the marketplace?
TOM SCANNAPIECO: With both 1706 Rittenhouse Square and 500 Walnut, we’ve identified what we consider to be “jewel” urban locations that offer privacy and an exclusive neighborhood feel, yet within steps of the city’s most prestigious parks, cultural institutions, retail, and restaurants.
What are some of the features of 500 Walnut that you are most excited about? Aside from its location at the heart of the most innovative and historic neighborhood in our country, we’re excited about the unique design of the building, by architect Cecil Baker, as well as revolutionary amenities, which include the fully-automatic parking system that was such a huge success at 1706 Rittenhouse Square.
Speaking of amenities, we’ve heard much about them. What can you tell us about them?
We’re extremely excited about our amenities as well. The fact that 500 Walnut has a larger footprint allows us to go further than we did with 1706 Rittenhouse. We will have a dedicated amenity floor complete with a treetop level terrace overlooking the park with lounge areas, a fire pit, gazebo, and grill. Residents will enjoy a full state of the arts fitness center, three-lane lap pool and sauna, as well as a 20-person cinema room, a billiard room, [and] a board room with a catering kitchen. We will also have a beautiful urban garden with a water feature.
What are some spots that residents will frequent given their proximity to Old City?
We envision 500 Walnut residents absolutely loving the surrounding neighborhood. Some of my favorite restaurants nearby are Buddakan, Talula’s Garden, and Fork Restaurant.