Rittenhouse’s newest luxury apartment tower, the Laurel, has sold a quarter of its units

Rittenhouse Square’s long-anticipated luxury tower, The Laurel is plugging along ahead of schedule, and just sold 25 percent of its condos.

The 48-story building, which only broke ground last fall, is on track to hit its anticipated 2021 end date for construction, according to a statement from Southern Land Company, the developers behind the building. They expect to start laying the foundation on the building next month and delivering apartments in two years.

The Laurel is moving into the last undeveloped plot of land on Rittenhouse Square, at 1911 Walnut Street and, when finished, will be the tallest all-residential building in the city.

It’s a monster of a project—both in terms of scale, and type. It includes retail on the first few floors, with rental units on the floors above, up to the 26th story, where there will be a whole floor of amenities. The top stories feature 60 condos, which start at 1,700 square feet for $2.4 million, and reach 9,000 square feet for $15 million.

“The strong demand at this early stage speaks volumes about The Laurel, which offers residents the final opportunity to buy a new residence in this incredible location,” said Brian Emmons of Southern Land Company.

The building has been years in the works, and finally received Civic Design Review approval in the spring of 2018.

• 1911 Walnut archive [Curbed Philly]