Philadelphia’s largest multifamily owner hopes to build a massive new tower overlooking the Schuylkill River and Center City West.

PMC Property Group proposed a 372-unit building at 200-10 S. 24th St. bordering Walnut Street, the Philadelphia Business Journal first reported. The developer made a presentation to the Center City Residents’ Association on Thursday night.

The proposal for a 486,500 SF building spanning 31 stories and a 118-space parking garage would replace a historic industrial building on the site known for its mural celebrating the Phillies. It is unclear what demolishing the structure would mean for the artwork.

PMC doesn't own the property at this time, The Philadelphia Inquirer reported. It belongs to student housing owner and charter school operator Michael Karp.

The lot is still zoned for industrial uses. PMC aims to have it rezoned at the legislative level, which would require support from Council President Kenyatta Johnson, who represents the neighborhood.

The project could be a joint venture, said PMC’s land use attorney, Adam Laver of Blank Rome, according to the Inquirer. 

Tantillo Architecture’s plans for the building, with a mix of studio and one- and two-bedroom units, also include an outdoor swimming pool, a fitness center and private roof terraces.

The lot is partly occupied by Walnut Bridge Parking & Storage, which includes a 160-space public garage. It also has vacant ground-floor space fronting Walnut Street that was most recently occupied by Sweat Fitness. The gym closed in 2022.

PMC has long been a multifamily power player in Center City West. The developer built the 287-unit tower at 2301 John F. Kennedy Blvd. and the Riverwalk Towers directly across the Schuylkill from 30th Street Station.

The firm and its partner Dean Adler are under contract to purchase Centre Square, the largest office property in Philly, for $70M, with plans for a partial apartment and hotel conversion. They have tried to back out of the sale, but a judge ruled last week that it should proceed.