Center City District and the Central Philadelphia Development Corporation (CPDC) track real estate development projects across Greater Center City (Girard Avenue to Tasker Street, river to river). This round up of real estate construction news features projects that are completed, under construction, or proposed as represented in our recently released Center City Real Estate Development Report, January 2025.  

Completed Development Projects in Center City 

Jefferson's Honickman Center 
📍 1101 Chestnut Street 
🔗 Website 

Jefferson Health has completed the 426,000 square foot Honickman Center, which was created to consolidate various clinical care units in one facility. The 19-story building includes examination rooms, operating rooms, imaging and lab services, a pharmacy, and underground parking. The project is part of Phase 3 of the multi-block East Market development. 

Broad & Noble 
📍 435 North Broad Street 
🔗 Website 

Toll Brothers Apartment Living and Sundance Bay have constructed an 18-story high rise tower with 344 units, 10,574 square feet of retail and 107 underground parking spaces at the intersection of Noble and North Broad streets. A public plaza faces Noble Street, activated by a two-story retail space, and marks the entrance to the Rail Park. 

Learn more about Broad & Noble from the recap of our recent CPDC behind-the-scenes tour. 

The Josephine 
📍 1620 Sansom Street 
🔗 Website 

Developed by Southern Land Company, The Josephine is 27 stories tall with 254 rental residences, including multiple penthouses with private terraces. Amenities feature a club lounge, a sky lounge, a fitness center with an outdoor pool, and community dining and entertainment spaces, as well as Uchi, a Japanese restaurant. 

Projects Under Construction in Center City 

2000 Arch Street 
📍 2000 Arch Street 
🔗 Website 

Parkway Corporation is developing a destination workplace at 2000 Arch Street. The 18-floor, 550,000-square-foot building was designed by L2P/ Stantec and will be occupied by Chubb, the world’s largest publicly traded property and casualty insurance company. 

2300 Market Street 
📍 2300 Market Street 
🔗 Website 

Breakthrough Properties, a collaboration with Tishman Speyer and Bellco Capital, is building a 250,000 square foot mixed-use office and life science building over the existing structure at 23rd and Market. The building will stand nine stories tall with an updated glass exterior and will include a café, fitness center and elevated terrace. 

Learn more about 2300 Market from the recap of our recent CPDC behind-the-scenes tour. 

Philadelphia Ballet Center for Dance 
📍 323 North Broad Street 
🔗 Website 

The five-story Philadelphia Ballet Center for Dance will feature new rehearsal studios, performance venues, administrative offices, community gathering spaces, and advanced capabilities for dance training, community education, programming, and events. 

Thomas Paine Plaza 
📍 1401 JFK Boulevard 

The City of Philadelphia is redesigning the Thomas Paine Plaza in front of the Municipal Services Building. Plans include increasing seating, trees, and green space. The new plaza will add public art and space for programming. 

Three Parkway  
📍 1601 Cherry Street 
🔗 Website 

Construction is wrapping up on Three Parkway, an office building just north of the Ben Franklin Parkway between 16th and 17th Street. PMC Property Group's partial conversion of the building was made possible after the departure of Drexel University from 10 contiguous floors. Approximately 175 apartments will occupy the lower floors while office tenants will remain in the upper floors.  

Freeman's Auction House 
📍 1808-1810 Chestnut Street 

Astoban Investments plans to preserve the existing six-story building that formerly housed Freeman’s auctioneers and construct a 19-story tower above it for a total of 25 stories. Each added story will house a luxury condominium. There will be underground parking with seven spaces for cars, plus a new bike rack on Chestnut Street. 

The Bellevue
📍 200 South Broad Street 
🔗 Website 

Lubert-Adler acquired The Bellevue with plans to convert the current office space into apartments, renovating the Hyatt hotel, renovating the 100,000-square-foot Sporting Club, and converting 1418 Walnut into a mixed-use building. Amenities include a rooftop skating rink, a swimming pool, and co-working space. 

Proposed Developments in Center City 

Caroline Kimmel Biomedical Building - Thomas Jefferson University 
📍 214 South 9th Street 

Thomas Jefferson University received its second largest donation ever, a $70 million gift from Sidney and Caroline Kimmel, which will be used for a new building to expand the biomedical research capacity at its Center City campus. The 11-story Caroline Kimmel Biomedical Research will create space for 56 additional National Institutes of Health funded research teams and an additional 250 to 400 jobs at Jefferson. 

19th and Chestnut 
📍 1826 Chestnut Street 

Goodman Properties, which has owned 1826 Chestnut Street property since 1994, is planning a 213-apartment tower to top the CVS currently at the location. At 576 total feet, the tower would be one of Philadelphia’s tallest residential towers and will include 64 below-grade parking spaces. 

Arbour House
📍 702 Sansom Street 

Pearl Properties has proposed a 99-unit tower at 7th and Sansom. The building will overlook Washington Square Park with one- and two- bedroom units, 50 parking spaces, and ground floor retail. 

Harper Square 
📍 113-121 South 19th Street 

Pearl Properties is building a 55-story skyscraper at 115 South 19th Street across from The Harper. It will also include 15,000 square feet of retail space on the lower floors. 

Did we miss any updates or construction news, or do you have updates to share? Please email us at developments@centercityphila.org with more information.