The Parc Rittenhouse building has been renovated so often since its 1925 construction that Philadelphia-based developer Allan Domb and architect Jim Garrison didn't know what they would find when they made plans to turn it into 266 condominiums. The historic building, which was once the Penn Athletic Club where Olympic champion Jack Kelly trained, also served as a government building, offices, and apartments before becoming a Sheraton hotel in the popular Rittenhouse Square in Philadelphia.
“We had some drawings from the 1920s, a couple from the 1970s and 1990s, and it became a puzzle that you have to piece together,” says Jim Garrison, an associate at Philadelphia-based Hillier Architecture.
Garrison and Domb had to choose a redevelopment plan that would please both residents and the city. The result: Parc Rittenhouse kept its original terra-cotta brick color and adopted a “stripped classical style, which is very cubic and right on the cusp of traditional architecture,” Garrison says. When completed in March 2008, the project will offer units ranging from studios to three-bedroom condominiums below seven unfinished penthouses at prices ranging from $295,000 to $6 million.
Even with upgrades such as marble bathrooms and Brazilian cherry wood floors, Domb was able to keep the price down. “Because it was a renovation of an existing building, our costs were lower and we were able to pass that on to the consumer,” he says.
When completed in March 2008, the $200 million project will include an outdoor pool, whirlpool spa, sundeck with cabanas and lounge chairs, fitness center, library, and media room. On the ground floor, there will be a new French restaurant called Parc Bistro, alongside an existing Devon Bar & Grille.
- The Domain Cos.' New Orleans developments include The Preserve, a 183-unit complex to be built on the site of the former Baumer Foods plant, and the 228-unit Crescent Club, which will occupy the former Crescent City Motors site. The units will feature 9-foot ceilings, Energy-star certified appliances, and washing machines and dryers. The company also is acquiring nearby vacant and flooded properties to build homes for first-time home buyers in partnership with neighborhood-based builders.
- Tarragon Corp. is developing One Hudson Park, a 168-unit high-rise condominium community in Edgewater, N.J. The one-, two-, and three-bedroom units will feature floor-to-ceiling windows with panoramic views of the Hudson River and Manhattan skyline and contemporary-style kitchens and baths. Amenities will include a pool and spa, fitness center, yoga studio, media lounge, sundeck, children's room, and 24-hour attended lobby.
- Perseus Realty is redeveloping the historic Anthony Bowen YMCA in Washington, D.C., to include a new $15 million, 45,000-square-foot recreational facility and a 200-unit apartment building featuring 12,000 square feet of retail space. The project, which is expected to deliver in 2010, will encompass approximately 350,000 square feet in the city's U Street corridor.
- Sky Development is developing City Place Aventura, a mixed-use community in Aventura, Fla., to include 51 condominium units, 53 townhomes, 150,000 square feet of office space, and more than 46,000 square feet of retail space. The two-story condo units, spanning 1,305 square feet to 1,683 square feet, will feature stainless steel appliances, European-style kitchens, and private rooftop terraces or balconies. Amenities will include a heated pool, park, and barbeque and picnic area. Unit prices start in the $400,000s.
- Gateway Commons and Swami Palanisami are developing Fusion, the redevelopment of two adjoining historic hospital buildings in Minneapolis into 43 condominium units . UrbanWorks Architecture is designing the project, which incorporates the original Abbot Hospital, built in 1910, and the adjoining Janney Hospital built in 1919. The two buildings occupy nearly half a city block in the city's historic Stevens Square neighborhood.
- Vista Realty Partners is completing Lindbergh Vista, its newest mixed-use community in Atlanta. The project will include 314 luxury rental units and 15,000 square feet of retail space. A mix of traditional and live/work units will feature wood flooring, granite counter-tops, garden tubs, and patios or balconies. Amenities will include a rooftop pool with cabanas, fitness center, business center, cyber café, and meditation gardens.
- Westminster Communities is completing Cranford Crossing, a mixed-use community in the downtown historic district of Cranford, N.J., offering 50 rental units and 22,000 square feet of retail space. The one- and two-bedroom units, available in 20 unique floor plans, offer 9-foot ceilings, granite countertops, stainless steel appliances, and washers and dryers. The property is located next to a train station and a new 310-space municipal parking garage built by Westminster.
Wood Partners is developing the $200 million, three-phase Town Center at Camp Springs near a Metro station in Prince Georges County, Md. The company plans to build more than 530 luxury condo units, 34,000 square feet of office condominiums, and more than 48,000 square feet of retail space scheduled for a phased-in delivery beginning in October 2007. The condo units will feature stainless steel appliances, granite countertops, 9-foot ceilings, indoor parking, and 24-hour concierge services.
—Listings compiled by Rachel Z. Azoff