1500 Pine Street can be considered the city’s residential, workplace, restaurant/retail, and cultural entertainment epicenter. 1500 Pine was acquired off market from the University of The Arts, which had owned and operated 1500 as a dorm for the past 40 years. The intended business plan contemplates a value-add program for the existing 66 apartment units . We intend to utilize the existing unit layouts and update the unit finishes in a high end fashion.
The project is in the Rittenhouse Square, the most sought-after, upscale neighborhood in the city. Located between Market and Lumbard Streets from Broad to 24th streets, Rittenhouse Square boasts the highest per square foot rental rates in the city. The neighborhood is occupied by luxury hotels, high-end retail, and world-renowned restaurants. This highly coveted location offers an energetic nightlife and an extensive array of art and culture providing entertainment options, all just steps from 1500 Pine St. Rittenhouse Square is indisputably a main economic factor in Philadelphia’s growth, providing one of the most amenitized and coveted neighborhoods in the city.
