Pearl Properties has recently made progress on several major projects that had been paused in recent years.
Pearl Properties has recently made progress on several major projects that had been paused in recent years. A rendering of how the facades of the one-story buildings at 124 and 126 S. Seventh Street would be incorporated into Pearl Properties' Jewelers Row tower.housing tower by requesting permission from the Historical Commission to alter two small protected buildings on the Seventh Street side of the project.
, the Philadelphia-based developer obtained the vacant land at 708 Sansom St. from Horsham-based Toll Brothers, which had sparked controversy — and seen their development delayed — by their eventually successful effort to demolish five buildings in the midst of the city’sreceived a zoning permit on Sept. 24, 2024, for a 35-story tower, with 99 units, 50 parking spaces, and almost 1,500 square feet of commercial space. Since then there has been no movement on the project, amid a difficult construction environment and a competitive multifamily market.
But earlier this month, Pearl Properties asked the Historical Commission for permission to demolish the rear sides of two one-story buildings facing Seventh Street, while preserving their facades as a pedestrian entrance“Due to many years of neglect, the buildings are in substantial disrepair,” Morris Clarke, director of operations of DAS Architects Inc., wrote in a letter to the commission on behalf of Pearl Properties.
“It is the applicant’s intention to restore both storefronts to their original form, so as to enable them to contribute to the streetscape experience and vibrancy of the immediate neighborhood rather than continuing to be a symbol of blight,” Clarke said. The new rear entrance next to the garage on Seventh is not the only alteration to Pearl’s project since it was last seen by the public in early 2024.
The developer needed permission from the city’s Zoning Board of Adjustment to proceed and also negotiated over the project’s design with the Society Hill Civic Association in exchange for its support. Pearl has made changes to accommodate the neighborhood group’s demands that the floors closest to the street reflect the surrounding buildings.
“The original design has no compatibility with Jewelers Row,” a 2024 document about the negotiations from the Society Hill Civic Association said. “It is monolithic. The materials were invasive. ” Renderings of the ground floor levels, marked “final negotiated design” and dated to September 2024, show that Pearl responded to that feedback by creating a podium for the building that better matches the surrounding historic buildings.
This was partly achieved by using brick and other materials more akin to Pearl’s neighbors and partly by splitting the facade into units that appear more like the commercial townhouses of Jewelers Row.
“There were arguments, but we accepted it because we thought it was a good product, a good design, good quality,” said Paul Boni, chair of the zoning and historic preservation committee of the Society Hill Civic Association. “They have other holdings in the city that we checked out,” Boni said. “And something needs to be built there. This is a nice big building with a lot of density.
It’ll be a good addition. ” Neither Pearl Properties’ Reed Slogoff nor project architect DAS responded to a request for comment. Boni declined to comment on when the project was likely to break ground. The Historical Commission staff approved Pearl’s plans to demolish the rear of the two one-story buildings on Seventh Street, noting that they are both only 13 feet wide and 18 feet deep.
“The small buildings would be used as entrances to the interior motor court of the high-rise building,” the staff notes read. The Seventh Street addition to the design will be considered by the commission’s Architectural Committee on July 28 and can then be considered by the full committee as soon as August.at 113-121 S. 19th St. near Rittenhouse Square, another long-awaited luxury apartment tower. The company installed a tower crane in May to begin construction.
I cover the changing fortunes of the office, housing, and retail sector in Philadelphia. I focus on new development, and I'm also interested in how public policy affects the real estate industry. 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