1701 Market Street

Converting office buildings to residential uses is a viable adaptive reuse solution as remote and hybrid work remain strong.  Alterra Property Group, a real estate investment, development, and management company, deemed 1701 Market Street in the core business district of Philadelphia, PA as a prime candidate for an office to residential conversion. The design vision is to transform the 18-story high-rise building into a modern Class A residential mixed-use complex focusing on wellness.

Built in 1957, the exterior design preserves portions of the original Indiana limestone. To bring a tripartite facade and vertical expression to the horizontal tower, limestone strips will be cut at the floor line allowing the incorporation of taller windows. A channel shape made of metal panels will lead up the façade to the sky frame which will capture unique views of the city. The roof terrace will be surrounded by a 6-foot-tall glass windscreen.

The long rectangular floor plates presented both challenges and opportunities for the conversion. A total of 299 units feature generous one- and two-bedroom layouts with built-in desk nooks for the hybrid worker. The units will be located on the sixth through 18^th floor. Incorporating the concept of wellness in every design detail, the roof terrace will include a year-round heated saltwater pool, cabanas, outdoor screening lounge, outdoor sunset lounges with fire pits, dog run, and BBQ grills.  Indoor amenity spaces will include health and wellness rooms. The lower levels of the tower comprise a four-story enclosed parking garage with EV-charging stations, anchored by ground floor retail space.

1701 Market Street is well-connected to Philadelphia’s subway, regional rail system, and underground concourses – which is a rarity for a residential building in the downtown core. It will effectively utilize the city’s existing infrastructure and support urban regeneration. From a sustainability perspective, adaptive reuse of an existing building reduces embodied carbon.