Among Philadelphia's major real estate development firms, Tower Investments is a most interesting case. The firm had a rather unexceptional beginning in 80s and 90s as a builder of generic, auto-oriented, big box shopping centers, which unfortunately often found themselves near the city's Delaware and Schuylkill riverfronts. Then sometime in the last decade, Tower gradually abandoned its sprawl-type development model in favor of dense, walkable urbanism. Its latest project, the Piazza at Schmidt's, is an ambitious mix of warehouse to condo conversions and stylish new construction, joined together by a spacious plaza flanked by independent restaurants, shops, and galleries. It received a slew of positive press when it opened in May, and I have no doubt that it is Philadelphia's most significant single development project in decades.
So I was more than a bit excited to see these renderings of Tower's upcoming projects posted in the windows of its Northern Liberties office:
The Shops and Residences at Schmidt's:
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State Office Building
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The Residences at Avenue North
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This is an impressive and very ambitious bunch of projects being put together. Each one is dense and mixed-use, and will include important amenities for neighborhoods outside of Center City. Even better, each project, located within one block of a subway station, is a great example of the type of transit-oriented development that the city needs to encourage.
Tower Investments
Inga Saffron on the Piazza [Philadelphia Inquirer]