The latest plans for the 48-story 1911 Walnut tower in Rittenhouse Square call for some mixed-income units, including some below-market rate units in the glassy mixed-use tower.
PlanPhilly reports that developer Southern Land Company plans to have “at least eight” below-market rate units available in the 48-story luxury high-rise, located among the first 10 floors. These units will be in addition to the already announced 28 low-income units that will be located in two historic properties on the site, Rittenhouse Square Coffeehouse and the Warwick.
“We could end up with more than 36 units of affordable,” said Neil Sklaroff, a zoning lawyer who represents the Southern Land Company at this week’s planning commission meeting.
He went on to say that they are “likely” to meet or surpass the project’s 10 percent mixed-income housing requirement that would allow them to acquire zoning bonuses, according to PlanPhilly’s report.
Meanwhile, construction work is underway at the future 1911 Walnut tower. The first step will be the demolition of the Oliver H. Bair Funeral Home.
- 1911 Walnut Coverage [Curbed Philly]
- 1911 Walnut tower plans updated as project nears final legislative approval [PlanPhilly]