February 23, 2018
Luxury living in Philadelphia will soon be taking a more prominent place in the Center City skyline.
New York-based developer Southern Land Company on Friday revealed plans for what will be a massive residential tower on the last undeveloped parcel of land on Rittenhouse Square.
The project, named The Laurel, for Pennsylvania's state flower, calls for a 48-story tower with high-end condos, apartments and tony retail at 1911 Walnut St.
“We have the best location and the most sophisticated offerings of any residential project in Philadelphia — and now we have a name and a brand to match it,” said Tim Downey, CEO of Southern Land Company.
“The Laurel will set the market for luxury living in Center City, and we have spared no expense to ensure every detail is absolutely perfect.”
Amenities at The Laurel will include valet parking, an indoor lap pool and hot tub, a fitness center, steam room and sauna, club room and conference room, and a yoga and Peloton room. Even dogs will have a spa to call their own.
A terrace overlooking Rittenhouse Square also will offer residents a bar and catering kitchen. Residents with out-of-town guests will be able to take advantage of a rental suite for visitors.
Prices for residences at The Laurel will start around $2.5 million, with full-floor penthouses available to premium buyers. The sales center will open at 1845 Walnut St. this spring, with a groundbreaking on The Laurel set for early 2019.
“We’ve already received hundreds of inquiries expressing interest in The Laurel, which speaks volumes about the strength of this project and its iconic location,” said Brian Emmons, who is overseeing development of The Laurel.
The project comes amid a wave of high-end residential development in Center City, including the recently completed 500 Walnut, the upcoming apartments at East Market, townhouses at the quashed Foxwoods casino site and Bart Blatstein's plans for a 32-story tower at South Broad Street and Washington Avenue.