Number 22 on Philly YIMBY’s December 2020 Development Countdown is 1153 Chestnut Street, a 329-foot-tall, 25-story residential tower proposed as part of the two-tower East Market Phase 3 development in Market East, Center City. Designed by Morris Adjmi Architects and developed by National Real Estate Group, the building will rise on the west side of the complex and will feature a blocky yet eye-catching façade of metal, precast terracotta, and glass. The tower, which will be one of the tallest residential high-rises in the area, will yield 250,000 square feet with 396 units. Philly YIMBY’s recent site visit revealed that excavation is getting close to completion.
1153 Chestnut Street from 11th Street. Photo by Thomas Koloski
Redevelopment plans for the site date to October 2018, when the developers purchased a prewar parking garage that extended from South 11th Street to South 12th Street. Hardly any information was released other than the plan to erect two towers, one with office space and another residential. Plans for East Market Phase 3 were revealed at the end of 2019, showing a taller glass tower to the east of a shorter residential building.
William Penn Statue watching over East Market Phase 3. Photo by Thomas Koloski
The site broke ground just over a month ago, and excavation has been moving at an incredibly fast pace. The plot is now unearthed down to around 50 feet deep, with retaining walls in place along the perimeter. At this pace, digging may be finished near the end of January.
East Market Phase 3 from the corner of Chestnut and 12th Street. Photo by Thomas Koloski
Market East has been transforming drastically over the past few years with many major office, residential, and institutional developments.
East Market Phase 3 with skyline. Model by Thomas Koloski
The residential tower is scheduled to open in June 2023.
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I think your reporting is a little bit off. It’s the “taller glass tower” that will be going up, not the Adjmi project.