In light of the way the Tolls Brother project on Jewelers Row has gone, another developer has preemptively secured a residential zoning permit for one of its properties on the same street.
The zoning permit secured by PRDC Properties allows for 54 residential units to be built into a 6-story addition onto the 6-story Jewelry Trade Center at 740 Sansom Street, which sits on the opposite end of the row from the proposed 29-story tower by Toll Brothers.
PRDC Properties acquired the property seven years ago, and its own offices are based there. The company told the Inquirer that while it applied for the zoning permit, it has no intention to start construction on a residential project at the moment.
“We consider it our responsibility to protect our tenants and our asset from any agenda-driven limitations that city agencies may seek to impose on Jewelers Row and the surrounding area," the company said. “It was incumbent upon us to take preemptive steps to obtain zoning approvals for the kinds of activities we anticipate may be subject to such limitations, irrespective of any present plans to pursue development at this time.”
740 Sansom Street dates back to 1931 and is currently home to more than 40 jewelers’ workshops and studios.