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Developers Submit New Proposal for One Water Street

Art and retail in lieu of affordable housing

PMC Property Group, the developer behind One Water Street, has submitted a new application to Licenses & Inspections in order to meet the property’s zoning obligations, according to multiple reports.

The submission comes after news broke earlier this month that the developers wanted out of their deal with the city for a height bonus in exchange for including affordable housing units.

Instead of including the units for low-income residents, PMC Property Group is offering "to add one 5,000-square-foot retail space, one piece of public art, and wants to install a souped-up, energy-saving system to One Water Street," writes Inga Saffron, Philadelphia Inquirer’s architecture critic.

That’s kind of what the Civic Design Review committee suggested to the developers from the get-go way back in 2014.

L&I has 10 days to review the application. Although Saffron suspects that it may not go over well. L&I announced no move-ins at One Water Street until PMC Property Group delivered on its deal. And the developer will have to present yet again to other committees like the Civic Design Review and the Art Commission with their new proposal.

Wonder how all of this development drama played out? Here’s a helpful timeline of how things went down.