A string of row houses in Center City are set to come down to make way for a 17-story condo tower proposed just a stone’s throw from the Comcast Center, according to city construction permits.
The project, dubbed the “Residences on Race,” would clear three large 19th century buildings for 29 condo units housed in a glassy 190-foot edifice.
The existing structures were not historically protected and permits have already been issued for their demolition. Now used by nearby Friends Select School, the buildings have been owned and leased for the last 20 years by real estate broker Steven Eizen, who is also helming the latest redevelopment proposal.
Eizen said he has already secured the necessary zoning changes for the project and is confident in his ability to secure financing for more high-end housing units in a growing market he has watched change dramatically over his decades in the business.
“There are no big parcels left in Center City,” he said. “This is probably one of the last big pieces left.”
Eizen’s plans for the 6,000 square foot parcel show a series of two-bedroom units with floor plans ranging from 1,600 to 2,400 square feet of living space and and a high-tech automated parking garage with 28 spaces. Commercial uses are intended for the ground level, though the development is in its early phases and the school’s lease has not yet expired.
“If we’re somewhere between step one and 100, we’re probably at step three,” Eizen said. “This is not going to happen tomorrow, but maybe in the next year or year-and-a-half.”