From today's DN online:

Posted on Fri, Apr. 22, 2005

20th & Market site sold for condo development

By EARNI YOUNG

younge@phillynews.com


One of the nation's largest real estate developers has purchased the grassy lot at 1919 Market to build - you guessed it - condos.

Opus East LLC. paid nearly $9 million for the three-quarter-acre parcel on the northeast corner of Market and 20th streets. The plot of neatly mowed grass surrounded by an incongruous picket fence was owned by the 1919 Trust, which is managed by Wilmington Trust.

Carl Neilson, a vice president with Grubb & Ellis, said Opus East is finalizing plans for a mixed-used tower that will include ground-level retail and several floors of parking topped by condominiums.

He does not expect the proposed building to tower over adjacent properties, which include the Independence Blue Cross Tower at 1901.

"The completed design will work harmoniously with the existing surrounding uses," Neilson said.

The lot originally was to be part of the development of the 1901 building. Back then, planners envisioned office towers would line Market all the way to the Schuylkill.

But the collapse of the '80s real estate boom stopped further development and the 1919 Trust acquired the property through a deed-in-lieu of foreclosure. It has sat idle for 15 years encumbered by more than 22 separate lawsuits.

Paul Levy, head of the Center City District, said Opus' decision to build residential units will help connect the Rittenhouse Square to the Logan Square area. On the downside, it signals a lack of confidence in future downtown office job growth, he said.

Now if we could just get a subway stop down there it would start to be a neighborhood.

Huh? There is a subway stop there....at 19th and Market on both sides of the street.

-UC

Probably means the Blue Line ... it doesn't stop between 15th & 30th ... but since there is the Green Line, why should it?

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To UC and BG - there should be a Blue Line stop there for at least two reasons:
- b/c not everyone lives in West Philly/Univ City, for whom the current setup works fine but not for everyone else
- rapid transit is a requirement for most people to use public transportation, especially people who can afford to drive or use a cab. Having to transfer from a Green Line train to a Blue Line one makes it not worth the effort for many people (myself included).

Can anyone find out more about Opus's plans (or if they actually have anything beyond the simple concept described in the DN story)?

I would LOVE to see that hole filled up, regardless of the symantics of the distinctions between subway and subway surface line stops.

Why can't people take a long-run global perspective on anything, without simply advocating a simple view like - just build the building... sheesh.

I didn't know the green line stopped over there. Nonetheless a blue line stop would be a benefit for everybody.

This is great news!

I just wish these developers had units under $300k, It seems all the new projects have 750 sqft 1br units starting in the 300s, with $350 /mo condo fees and $35k parking spots. You end up spending a LOT of $$ for 750 sqft and a parking spot.

The site's been empty for 20 years. It is surrounded by modern high rises. No historic issues. Few neighbor issues. There are very few people the building could bother: perfect conditions for a simple, decently designed high-rise, which sure would beat what's there now. Seems very simple to me. No need for controversy. What's so complicated? Why the need for longer-range thinking in this case?

I think would should channel all our long-range thinking into Penn's Landing. Maybe then, while every place else in Center City can get developed, PL will remain the only best thought out underutilized weed infested lot left downtown.