Carl Dranoff is planning an 84-unit boutique apartment building for his next project on South Broad Street, writes Paul Schwedelson for the Philadelphia Business Journal.
The seven-story building will be constructed at Broad and Carpenter streets on the site of a former McDonald’s, which was demolished to make way for the mixed-use development.
The project adds to construction on the busy Avenue of the Arts, which has seen numerous developments in recent years.
The site sits just north of the Lincoln Square apartment building and Sprouts Farmers Market, which opened in 2018, and diagonally across from One Thousand One luxury apartments, which completed its first phase last year.
Dranoff, who is on the Avenue of the Arts board, referred to his proposed building as “another pearl on the string.”
“This is adding more density and sidewalk vitality, which I think is what we need here,” he added. “We have a mid-size but important connector building.”
Dranoff has already developed four buildings along the cultural corridor, such as the luxury condominium towers Arthaus and Symphony House, and is working with Dwight City Group of New York on a residential conversion of Anderson Hall at Broad and Pine streets.
Read more about the planned development coming to the Avenue of the Arts in the Philadelphia Business Journal.
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