The record-breaking new 500 Walnut takes shape in Society Hill while AKA checks in at Washington Square and Toll Brothers looks to polish up Jewelers’ Row.
The 4,000-square-foot treetop terrace at 500 Walnut offers stellar views of Independence National Historical Park.
Breaking its own record of the highest residence sale in Philadelphia at $17.85 million, Scannapieco Development Corporation has answered a growing demand for high-caliber residences with their newest development 500 Walnut. Expected to begin occupancy in Spring 2017, the Society Hill high-rise takes the form of 26 lustrous glass stories overlooking Independence National Historical Park. Tom Scannapieco, president and CEO of Scannapieco Development Corporation, says it was his landmark project, 1706 Rittenhouse, that set the stage for 500 Walnut’s success.
“We took the key elements that drove demand for 1706 and are exclusive only to our properties, like the ability to customize units, privacy with only 30-plus units, automated parking and a jewel location—and then elevated those offerings with 500 Walnut,” he says. Designed by award-winning architect Cecil Baker and Partners, 500 Walnut boasts 35 full-floor, private residences at over 4,300 square feet. Each offers expansive balconies, private elevator access, and 11-foot ceilings.
The grand entrance at AKA Washington Square.
Building amenities include a sky-lit 50-foot pool, treetop terrace, outdoor fireplace, fully-automated parking facility, and town car with driver. In what was once the historic Benjamin Franklin Hotel designed by Horace Trumbauer and famously featured in the film Silver Linings Playbook, luxury extended-stay hotelier AKA has debuted its latest $13 million revitalization project AKA Washington Square, an entirely branded floor of The Franklin Residences.
The iconic property has 93 rooms, 30 of which are now a part of the AKA collection. The units are one- and two bedroom, with fully equipped kitchens, granite countertops and stainless steel appliances, walk-in closets, and large marble-finished baths. “We have added and refurbished many amenities for residents—and soon the public—including live music in the lobby, traditional afternoon tea, and, this fall, we will be unveiling Rarest, a new culinary offering at the corner of Ninth and Chestnut streets,” says Larry Korman, president of AKA.
"It’s really exciting to picture a resident looking out [from their home] at these famous prestigious buildings that are part of our national heritage,” says Tom Scannapieco, developer of 500 Walnut.
Jewelers’ Row, a neighborhood gem in every sense of the word, is getting new neighbors. Toll Brothers City Living’s Washington Square Development is the newly introduced plan for a 16-story condo tower built above the commercial space that lines Sansom Street to bring renewed interest to one of the city’s most iconic districts. One to four-bedroom units will be available in the 80-unit tower, with many offering views of Washington Square.
Valet parking, a full-service concierge, fitness studio, and pet spa are among the property’s planned amenities with even more slated as the project continues to evolve. Tim Spreitzer, spokesperson for Toll Brothers City Living, says the property’s entrance and loading zone will be located on Seventh Street to protect the character of Jewelers’ Row. Says Spreitzer: “It is our intention to protect not only the culture and heritage of Jewelers’ Row but also its look and feel."