Development Still Stalled at 709 Chestnut Street in Market East, Center City

A recent site visit by Philadelphia YIMBY has discovered no signs of construction work for a 317-foot-tall, 27-story residential high-rise proposed several years ago at 709 Chestnut Street (aka 709-13 Chestnut Street) in Market East, Center City revealed no signs of new construction. The site is located on the north side of the block between South 7th and South 8th streets, a block west of Independence Hall and the Liberty Bell. The project is a development by the Parkway Corporation, a company that specializes in operating parking lots (such as the one at 709 Chestnut Street) while looking for opportunities to redevelop said lots into residential and/or commercial properties, either on their own or in partnership with other developers. The latest iteration for the site at hand was designed by Edry McHenry Architects and had Roseland Properties attached as a co-developer, and was slated to offer 278 residential units.

709-13 Chestnut Street. Credit: Parkway Corporation

709 Chestnut Street. Photo by Jamie Meller. December 2023

709 Chestnut Street. Photo by Jamie Meller. December 2023

The development seemed to gain traction several times over the course of the past decade, only to stall out every time. In 2015, a proposal was unveiled for a 327-foot-tall, 27-story tower designed by HLW International and slated to hold 300 residential units. In 2018, the project was upgraded to the one visible at the title image of this article and as described in the introductory paragraph, and even appeared to have been well-received by both the City’s Planning Commission and the Civic Design Review Committee.

709 Chestnut Street. Photo by Jamie Meller. December 2023

709 Chestnut Street. Photo by Jamie Meller. December 2023

Subscribe to YIMBY’s daily e-mail

Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews