Developer Bart Blatstein presented his Tower Place apartments to the world with a ribbon-cutting yesterday. The newly available apartments are in the old State Office Building at Broad and Spring Garden Street—another step forward in the development of North Broad. The building is on the National Historic Register, and Blatstein did keep a couple of period details like a sign and the penthouse Governor's Room. But of course he had to modernize so that people would actually want to live there rather than inhabit a cubicle in a midcentury office building. Here are some key details about the apartments, which cost Tower Investments $70 million to complete:
· 204 one- and two-bedroom units
· 17 floors
· Rent: roughly $2 per square foot
· 6-month or 12-month leases available
· Hardwood floors in all units
· Washer/dryer in all units
· Pets allowed
· Free bike share program
· 13-month lease incentives: 1 month free; waived application fees; waived pet fees
Amenities:
· 24-hour concierge
· Drop-off dry cleaning service
· Continental breakfast
· 24 hour maintenance
· On site Property Manager
· Wi-Fi hot spots
· Community events
· Fully equipped business center
· Fitness Center with yoga and Pilates classes
· On-site parking
· On-site dog-walking available
· Bike room with complimentary bikes
· Bike storage
· Projection screen for sports, movies and more (can be reserved for private use)
· Game room (can be reserved for private use)
In five years, the plan is for this apartment building to be joined by another Tower Place. Here's the concept:
· 20-story mixed-use building
· 18 stories of apartments
· 2 stories of retail
· Cost: $110 million
· 215 rentable units
What will be most fascinating as this project progresses is to see what happens to Blatstein's casino plan, which obviously has huge implications for North Broad as well. As Mayor Nutter has said several times, the city has no influence over who gets the second casino license. Therefore it may not be entirely relevant that City Council prez Darrell Clarke is Blatstein's biggest fan, and has winkingly expressed his abiding love for Blatstein's Provence. But as Clarke said yesterday at the ribbon cutting, "North Broad is where it's at."
· $1585 / 1br - 776ft² - Luxury Living::Now Leasing::Tower Place::Incredible Specials (Center City/ Art Museum) [craigslist]
· Blatstein formally unveils Tower Place at Broad and Spring Garden [Philadelphia Real Estate Blog]
· Blatstein outlines $70M plan for former State Office Building [Inquirer]
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