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Parkway Corp has announced plans for a mixed-use complex at the corner of North Broad and Spring Garden streets.
The development, projected to cost $300M, will have two main buildings. The first will be a mix of multifamily and retail units, with 127k SF planned to contain 144 apartments above 87k SF of retail. The second building, separated from the first by a park and outdoor dining, will be devoted to 586k SF of office space. A portion of the 68k SF lot is also planned for parking, according to the Philadelphia Business Journal.
Based on tenant interest levels, the final product may not contain the entire 586k SF of office planned, but whatever winds up emerging from what is now a surface parking lot will be a major part of the resurgence of construction around North Broad. [PBJ]
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