Permits have been issued for the parking garage at 1101-53 Chestnut Street, part of the East Market Phase 3 development in Market East, Center City. The garage will be situated underground beneath the two future towers with three levels of underground parking and 300 parking spaces, which will be shared between the two superstructures. t will include 37 compact parking spots with 15 spaces for preferential parking, as well as 15 electric vehicle spaces with chargers and eight ADA spaces, where two will be van-accessible. The garage will total 156,456 square feet and cost an estimated $42,357,933 to construct.
In the late 1980s, in rapid succession, a series of skyscrapers broke through the long-held “Gentlemen’s Agreement” that unofficially restricted Philadelphia’s buildings from rising above the 548-foot-tall pinnacle of City Hall, creating the now-iconic skyline of Center City. While the skyscraper cluster transformed the area to the west of City Hall, the Market East district to the east continues to lag behind in terms of an imposing skyline. However, East Market Phase 3, developed by National Real Estate Development as part of the East Market complex and currently under construction at 1101-53 Chestnut Street, will boost the local skyline with a pair of towers rising 364 and 288 feet tall. The buildings will bring one million square feet of medical office, residential, and retail space to the neighborhood, and add a sizable public plaza. Today we take a detailed look at the transformative project.