Developer scraps plans for mid-rise tower at Society Hill’s ACME

Plans to build a mid-rise residential tower on top of the ACME in Society Hill have been scrapped, after months of opposition from the community.

PlanPhilly reported last week that developer Alterra Property Group has abandoned its plans to build by-right a 53-foot-tall residential tower at 5th and South, currently the site of an ACME. The tower would have included 65 residential units, 43 parking spaces, and a retail grocer on the ground floor.

But when the development was first announced in January of this year, the size and scope of the project was met with heavy opposition from the Society Hill Civic Association. For the past few months the developer and neighbors have been trying to come to an agreement.

According to the PlanPhilly report, Alterra and the neighborhood have agreed to another 10-year lease of ACME and an expansion of the store. In addition, the neighbors said they will withhold opposition of a CVS replacing the stores across the street from ACME.

• Lease of Society Hill's Acme extended, concluding heated community battle [PlanPhilly]
• Multiple developers eyeing Society Hill for residential projects [Curbed Philly]