The Avenue of the Arts, along South Broad Street, is one of the premier upscale performing arts districts in the nation. It includes the Academy of Music, Kimmel Center, Merriam Theatre, Wilma Theater, and Suzanne Roberts Theater. These performance venues are used by the world-renowned Philadelphia Orchestra, the Philadelphia Ballet, the Opera Company of Philadelphia, the Philadelphia Chamber Music Orchestra, and numerous theatre companies. Many new upscale residential developments and hotels have been opening along the Avenue of the Arts, some in new construction and some in renovated landmark office buildings. At the northeast corner of Broad and Pine Streets is a long-blighted parking garage, which has recently been left vacant. That parking garage is soon to be replaced by Dranoff Properties with a new luxury apartment tower.
The new apartment building is being designed by MY Architects. It will be fifteen stories tall and will have 91 rental units. The first floor will have 2,800 square feet of retail space at the important intersection. The residential entrance is on Pine Street. The retail and the residential entrances will each have an elegant marquis. The roof will have a deck and additional amenities for residents on the top floor. The facade will have brick, limestone and tile, with a blue mansard roof. There will be eighteen parking spaces underground. Six new street trees will be planted on the sidewalk outside the building.
The redevelopment of this long neglected corner of the Avenue of the Arts will have a positive effect on the district. This apartment building matches the upscale feel of many of its neighbors, including the new Arthaus condo tower and the Symphony House condo tower, and the renovated Atlantic Building. This continues to make the area one of the most upscale neighborhoods in Philadelphia and one of the most popular areas for nightlife and culture.