Center City Philadelphia Condos
Or more aptly put, is it possible to offend a whole subset of
Philadelphia
real estate owners in one article?
I think the possibility of both is worthy of consideration. Rittenhouse
Square, named after David Rittenhouse- a somewhat famous, if not boorish
Philadelphia historic figure of note, has been the destination for those
upper tier Philadelphia condo buyers for many years. With the arrival of
1830 Rittenhouse Square in 1912, "The Square" has been home to many
Philadelphians seeking a lifestyle rife without the burden of yard work,
roof work, or many of the mundane maintenance items that fill the daily
lives of their suburban contemporaries. Urban high rise dwellers have
long sought carefree lifestyles within the confines of The Barclay, 250
S. 18th St.,
1900 Rittenhouse, and The Plaza at 18th and Walnut Streets. In the
post war era, Philadelphia saw the arrival of such pieces as The
Rittenhouse Regency (now the Parc Rittenhouse), the Savoy, The
Dorchester, and 220 W. Rittenhouse Sq. Then came The Rittenhouse, and
today we have the creation of Ten Rittenhouse.
Can some of the Square's former attractiveness and glory be lost with so
many new choices for the upper class to reside, in terms of
Philadelphia's luxury high-rises? Could the 'Grande Dame of Philadelphia
living" be losing its luster and appeal to a much younger, hipper set of
Center City Condos? And a potential buyer would definitely have to
consider the contemporary styles in
Old City, such as 108 Arch. The building offers on-site parking and
sleek design. Or the Ayer on Washington Square- replete with the kind of
contemporary styling I have not yet seen in this town. Not to mention
the alternatives like the Ritz across from city hall, which promises the
utmost in pampering, or the Symphony House on South Broad Street, which
seems to be a magnet for those looking to be close to the cultural
center of town. Not to mention Two Liberty, whose units begin on the
40th floor. And talk about your views of the square! I have personally
dropped more than one hint about my willingness to move into Two
Liberty, at my dinner table, only to be routinely ignored. Looking at
other Philadelphia condominium alternatives, you certainly couldn't
ignore the proliferation of the luxury Brownstone condos along the
Spruce/Pine corridor
from Front to 26th Streets. The unbelievable
amenities including the high ceilings and the ornate pre-war detailing
to the original random width pine flooring, there is a serious challenge
to the current offerings of the square. And now, even the Delaware
River-front developments are catching on her in Philadelphia. Some of
the views from the 22nd floor verandas at Waterfront Square play well to
those considering a move into a downtown Philadelphia condominium or
loft.
If we look at the basic composition of the offerings of the Center City
condo market, we can see some dramatic changes over the years. The
outright growth and popularity of condos here in Center City has been
remarkable, to say the least. The overall perceptual acceptance,
physical expansion, and increased livability of neighborhoods like Old
City, and the water front for example, gives an incoming Center City
condo buyer a lot more options than they might have had twenty years
ago. And just a mere twenty years ago, the idea of a low rise,
brownstone styled condominium was not widely accepted as a luxurious
alternative to a Rittenhouse Square high rise condominium. In today's
market, any real estate possiblilty could exist. Knightsbridge condos at
10th and Spruce, or the Coles House on Clinton Street adequately
exemplify that notion.
So with all the options to the incoming Philadelphia condominium buyer
today, has the square indeed become passe? Maybe a bit tired in its old
age? I would have to argue that all in all, the square is still the
destination of choice for a vast number of incoming. The open park
setting, the shopping, the ease of access to major highways, not to
mention 30th street station all are positives in the mindset of those
seeking to make the square their home. And truth be told, where else are
you going to find say, "a Pre-War, doorman building, that realtors can
describe as Triple Mint"? You aren't. Rittenhouse Square is still chic,
still in vogue, and definitely still has some of the most well-known,
expensive, and luxurious condominiums here in Philadelphia. Maybe in 20
years you can check back and ask me again. However, unless we all live
on the moon, or say underwater in the year 2028, I am going to have to
guess that Rittenhouse Square will still be the destination of choice
for all those upper tier Philadelphia condominium buyers.
Search For Philly Condos
Mark Wade
215.521.1523
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ON THE FRONT LINES OF THE PHILADELPHIA CONDO MARKET SINCE 1989!