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Thursday, February 13, 2014

241: MORMON REAL ESTATE DEVELOPMENT ON THE EAST COAST

At first glance, I thought this was an image of downtown Salt Lake City. However this is not Salt Lake, but the city of Philadelphia where the LDS Church is planning on building a 32 story residential building . The tower looks exactly like the one they built in City Creek Center where some of the condominiums were selling for over a million dollars.

Just to give you an idea on how tall the building will be.. the LDS Church Office Building is only 28 stories. This new building development will be 32 stories. Taller than any other building in Salt Lake.

Artist rendering of the Mormon meeting house and 32-story residential tower

The announcement that the Church plans to build this 32 story tower was printed in the Philadelphia news with the article titled, "Mormons to build 32-story tower near Center City."

 LINK TO THE STORY

 "The Mormon Church plans to build a 32-story apartment tower and a public meetinghouse on a vacant lot next to the Vine Street Expressway, filling in a key piece of the no-man's-land that has long separated Center City and North Philadelphia's rebounding neighborhoods.

The private development by the Church of Jesus Christ of Latter-day Saints calls for 258 apartments, 13 townhouses, and retail shops at 16th and Vine Streets.

Tenants need not be Mormons to rent an apartment or townhouse in the development, officials said. They said the units would rent at market prices.

Wednesday's announcement is the next step in the church's commitment to invest in Philadelphia, City Council President Darrell L. Clarke said. Church officials said the development would complete their local building plans.

The total cost of the project is not yet known, church officials said.
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