Cecil Baker On Buyers for 500 Walnut: "They Want New York"

Architect Cecil Baker had some interesting remarks during his presentation in front of the architectural committee of the Philadelphia Historical Commission for the super-luxe 500 Walnut project at 5th and Walnut St.

"What we're selling to is a market that wants floor-to-ceiling glass. They want New York."

PlanPhilly reports the Committee member had "few comments about the design" of the 26-story tower that will rise just south of Independence Hall. The building is being developed by Tom Scannapieco, who knows a thing or two about what people are looking for in a luxury residence, and will be comprised of nearly 40 units and a ground floor retail space.

According to 500 Walnut's website, they're offering pre-construction reservations and have already secured "$60M in reservations to date". That's not too surprising when you take a look at the breakout of units. 26 floors for 37 units: that leaves a whole lotta room to lap up the luxury.

Floors 5 through 13 will house two units each, with floors 14 through 26 made up of one super-swank place each. Don't worry, they all won't be equal, either! The Inquirer reported in March that two, two-story 8,400 square-foot penthouses will be available, chock-full of balconies, fireplaces, a private interior elevator and, of course, one stellar view of quite literally the birthplace of our nation. The Committee may not have had many comments. Our thoughts are easily summed up in one word: woah.

A groundbreaking for the $150M project is expected to take place in spring of 2015. Move-in is looking like spring of 2017.
· Committee reviews 26-story glass condo tower proposed for 5th and Walnut [PlanPhilly]
· New luxury high-rise planned for historic area [The Inquirer]