North Broad garage will be redeveloped into 99 apartments and a large restaurant
The long-vacant tower’s transformation is the latest sign of revival on North Broad Street.
An antiquated industrial building at 142-144 N. Broad St. is being converted to 99 apartments and over 4,000 square feet in restaurant space.
The seven-story building previously served as a car showroom with vehicle elevators and a factory. It has been empty for years.
“It’s gone through a couple of owners,” said Carolina Pena, principal at Parallel Architecture Studio, which is working on the project. “We’re doing an interior renovation. There are no additions proposed. We’re trying to retrofit the existing garage into apartments.”
The building’s previous owner, John Wei, has been selling off property across the Callowhill area in recent years in the face of mounting financial difficulties. He purchased 142-144 N. Broad in 2022 for $7 million.
The property sold in August for $6.2 million to a company called Penn Hall Investment LLC.
In zoning applications filed with the city earlier this month, the owners are listed as Qiaozhen Huang and Yizhou Li with their business address as 300 E. Allegheny Ave. in Kensington.
Philadelphia-based Parallel Architecture Studio, which is designing the project for the latest developers, also served as the architect for an earlier iteration of the property, when Wei sought to use it to house a 115-room hotel.
Pre-pandemic permits show a proposal for an even larger hotel from another developer and architect.
“It’s more stable financially this way,” said Pena, of Parallel Architecture. “It’s harder to get financing for hotels than to get financing for apartments.”
Pena projects a construction timeline of 18 to 24 months. The apartments will be designed for single-person households.
“We have some studios, some one-bedrooms,” Pena said. “They’ll be around 600 square feet.”
The current Penn Hall project does not require any action from the zoning board because 142 N. Broad St. is in the most flexible zoning district in the city.
Bicycle parking and four automobile spaces will be available in the tower’s existing small underground parking facility.
In 2017, the city issued an “unsafe structure” violation for the building, but the owners at the time shored it up. No violation of that magnitude has been issued since.
The development along North Broad Street has been advancing at a slow but steady pace since the Great Recession.
Philadelphia developer Eric Blumenfeld’s string of popular projects along the thoroughfare, including The Met and the Divine Lorraine, started the redevelopment trend.
Other developers such as Alterra Property Group have added hundreds of new apartments to the area, and the Philadelphia Ballet’s new building is opening soon. Closer to City Hall at the shuttered Hahnemann University Hospital, Dwight City Group plans 288 apartments.