The city zoning board approved a developer's plans to raze three buildings at the southeast corner of 15th and Walnut Streets and erect a glass, three-story building that will include the city's first Cheesecake Factory restaurant, on the second floor.
Patrons will be able to get up to the restaurant through an entrance on Walnut Street.
Lawyer Carl Primavera said demolition should begin within 30 days. Construction could take 15 months, so after all is said and done, the restaurant should be open by fall 2014.
The developer is talking to high-end retailers about the first floor.
The property previously housed a strip of retail businesses along the east side of 15th Street from Walnut Street to Chancellor Street - a bank, hair salon, coffee shop, and restaurant - as well as two adjacent properties on Walnut Street.