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East Market developer plans medical office tower and nearly 400 apartments in project’s next phase

The medical tower would rise among a cluster of clinical and office buildings used by the Thomas Jefferson University hospital network.

Dan Killinger, managing director of National Real Estate Development, said East Market could get foot traffic from the newly opened Fashion District.
Dan Killinger, managing director of National Real Estate Development, said East Market could get foot traffic from the newly opened Fashion District.Read more

National Real Estate Development plans to build a medical office tower and a residential high-rise on the yet-to-be redeveloped southern portion of its East Market project site between 11th and 12th Streets on Market Street in Philadelphia.

The Washington-based developer was granted zoning permits Friday for a 23-story medical office building and a 24-story tower with 396 dwelling units on the Chestnut Street-facing portion of the site, where an art deco parking structure slated for demolition now stands.

The medical tower would rise among a cluster of clinical and office buildings used by the Thomas Jefferson University hospital network surrounding the East Market site, including the health system’s soon-to-be headquarters tower at 1101 Market St.

A Jefferson spokesperson did not respond to an email asking whether the network planned to occupy the new medical office building, and a National representative had no immediate comment.

National broke ground in 2014 on the East Market project, a planned $800 million development on land it controls under a long-term lease with the site’s owner, the estate of late Philadelphia tycoon Stephen Girard.

It is nearing completion of work on the Market Street-facing two-thirds of the property, where it has developed a pair of apartment towers and an office building, with lower-story spaces occupied by branches of Iron Hill Brewery & Restaurant, TJ Maxx, Mom’s Organic Market and Little Baby’s Ice Cream.

It is also converting the historic Stephen Girard Building on 12th Street, between Market and Chestnut Streets, into a hotel under Hilton’s boutique Canopy brand.