Category: Rental Properties

1601 Vine Street project to include residential, retail, and LDS Church meetinghouse

PHILADELPHIA, PA – Mayor Michael A. Nutter was joined by representatives of the Church of Jesus Christ of Latter-day Saints today as they unveiled plans for a major new development at 1601 Vine Street. The development – designed by Robert A.M. Stern Architects – will include a high-rise apartment tower, retail space, and a meetinghouse for local Church of Jesus Christ of the Latter-Day Saints congregations. The project is expected to generate an estimated 1,500 to 1,800 jobs over the course of the construction process.

“This new development continues the revitalization of Vine Street and adds to an approach to the Benjamin Franklin Parkway which already includes the world-class Free Library, the Family Court building, soon to be developed into a new hotel, and the Temple, slated for completion in 2016,” said Mayor Nutter. “This project joins a list of almost 50 major projects under construction across Philadelphia representing billions of dollars of investment. Philadelphia is on the rise as our skyline is re-shaped; new businesses start here, existing businesses grow here; and we continue to attract new residents and visitors.”

The proposed 1601 Vine Street mixed-use development includes a 32-story residential tower with 258 rental apartments, 13 rental townhomes, and retail space along 16th Street. The adjacent meetinghouse will provide a place of worship and community gathering for the Church of Jesus Christ of the Latter-Day Saints in Philadelphia and will consist of a chapel, a family history center, a cultural center, and an outdoor courtyard. The planned development is subject to approval by the Philadelphia Redevelopment Authority and other departments and agencies of the City of Philadelphia.

“The Church’s ecclesiastical commitment to the City of Philadelphia continues,” said Michael Marcheschi, of the LDS Church’s Special Projects Department. “The Church will separately construct a meetinghouse across 17th St. from our Temple now under construction. This meetinghouse will be open to the entire community and will serve as a place of gathering, recreation and worship.”

The project team includes the Corporation of the Presiding Bishop of the Church of Jesus Christ of Latter-Day Saints, Robert A.M. Stern Architects, BLT Architects, and Property Reserve Inc.

“This apartment tower project reflects our confidence in both this City’s increasingly attractive market opportunity and its leadership at various levels,” said Tom King, a Director of Property Reserve Inc., a real estate investment affiliate of the LDS Church. “The tower will be perfectly situated to meet the expanding rental and retail opportunity in this beautiful area of Center City. And City leaders and agencies have been most responsive and sophisticated in properly supporting this investment.”

This new proposed development will join the Church of Jesus Christ of Latter-day Saints Temple currently under construction at 17th and Vine Street as an additional major investment in Philadelphia.

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