1900 Walnut's Next Owners

Every great city has one park that's held above all others. Central Park seemed to set the bar, and although Philadelphia's Rittenhouse Square was laid out a century and a half earlier, the architecture that surrounds it is clearly Philadelphia's Manhattan. 

It's missing one thing, though: a lack of vacant lots. In its northwest corner is a fenced off parcel with a rogue portrait of a cow facing its green meadow. It's blight. And it's blight that sits on what is likely the most valuable piece of property in Center City.

Don't ask me what was once there. Locals have their folklore about the site. It was a mansion. No, row homes. Maybe an apartment building? I can't find information on its history. If you remember what was there, feel free to comment below. I'm curious.

But I'm even more curious why 10 Rittenhouse and Anthropologie were allowed to hollow-out two historic buildings for what amounts to a numeric address, while 1900 Walnut has been passed around to global developers like an aging Vegas prostitute. 

At the edge of the condo boom in 2007 it was purchased by Ireland's Castleway Properties. A few years ago Toll Brothers expressed an interest in building a McSkyscraper on the site. Just kidding. Toll Brothers, largely mocked for their neoclassical suburban monstrosities, has actually managed to pull off some handsome, urban projects. 

For whatever reason, they lost interest in 1900 Walnut and we once again forgot it was there. 

Rumors started filling up the message boards when workers were seen drilling on the L-shaped lot last week. And BizJournals.com has the answer.

Southern Land of Nashville has agreed to purchase the land for $30M, $40M is it can negotiate the right to build something denser than current zoning allows. 

While that sounds hopeful, BizJournal is repotting that Southern Land is shopping around for a partner to throw in 90% of the development cost. So unless someone's ready foot most of the bill for this ambitious project, Southern Land might just be the developer babysitting this mysteriously vacant lot.

Toll Brother to take on Rittenhouse Square?

For some time Toll Brothers has been experimenting in expanding its market to urban spaces, even Manhattan. Naval Square, though fortressed from its urban surroundings, has been Forgotten Bottom's most successful development.

But the development corporation, largely synonymous with suburban McMansions, has also been growing vertically.

Recently Toll Brothers has explored the possibility of purchasing 1911 Walnut Street. Just off Rittenhouse Square, the vacant lot is perhaps the city's most coveted construction site.

Castleway's 1911 Walnut

Empty since the 90s and owned by Ireland's Castleway Properties, the lot's last proposal was for a 50 story tower that died with the Great Recession.

It was an exciting design, but given Toll Brothers' reputation, one that likely won't be resurrected. As one of the largest development companies in the nation, Toll Brothers is a publically traded company. Although their talent may not want to design for the status quo, appeasing its shareholders often means doing just that.

1911 Walnut's premier address deserves exciting architecture. But Castleway Properties purchased the lot for nearly $38M, and that price tag means fielding a developer that can afford it. Having been vacant for two decades, Toll Brothers may be the only offer the site could see for a while.

Toll Brothers isn't the only company guilty of lackluster design. It's a hazard of the trade. While corporations like Comcast and Verizon want to stamp their brand on exciting architecture, residential developers, even private ones, need to appeal to the broadest range of customers. That often means dull glass curtains. When residential developers try to offer something interesting we wind up with Symphony House.

If Toll Brothers does decides to purchase the site, and that's still a big "if," they may consider the significance of the address and offer up something exciting. They're certainly capable. Given Philadelphia's influential neighborhood organizations, a Toll Brothers tower at 1911 Walnut will never look bad. If developed, the worst the site would see is something dull. But it all remains to be seen.