The Hanover Co., Parkway Break Ground on Mixed-Use Development
The Hanover Co. and the Parkway Corp. broke ground in mid-December on a transformative new “gateway” development on North Broad Street in Philadelphia. Dubbed Hanover North Broad, the development will feature two six-story apartment buildings housing 339 units across the street from each other, with about 17,500 square feet of ground-floor retail and 330 public parking spaces. (The project will replace two existing surface parking lots at Broad and Callowhill Streets owned by Parkway.)
“We believe Hanover North Broad has the potential to be a transformative ‘gateway’ development that will invigorate the area around Callowhill Street,” said John Nash, President of The Hanover Co. “The project will fill a large gap in the urban streetscape, set a benchmark for sophisticated contemporary architecture, deliver a meaningful amount of ground-floor retail to the area, and bring hundreds of new residents to the area.”
The apartments in each of the six-story buildings will surround interior courtyards and offer resort-caliber amenities such as a private residence clubhouse with fitness center, screening room and business center. The individual units will have stainless steel appliances, stone countertops, wood-style flooring and expansive windows.
The street-level retail space in each building will have Broad Street frontage and will appeal to restaurants, gourmet grocers, coffee shops and other specialty retail. Two two-level parking garages -- available to the public, as well as residents and retail visitors -- will be behind the retail spaces.
“Broad Street is truly Philadelphia’s heart and soul, where the city comes to live, learn, work, create, shop, play and celebrate,” said Robert Zuritsky, Parkway Corp. President. “With this key part of North Broad Street transformed, connecting the new energy near City Hall to the area around Spring Garden Street, the stage will be set for revitalization of treasures such as The Rail Park, The Met and the Divine Lorraine.”
[Source: Parkway Corp. and The Hanover Corp.]