Judge dismisses Chapter 11 petition of 10 Rittenhouse developer

A federal bankruptcy judge has dismissed the Chapter 11 petition filed by the developer of 10 Rittenhouse Square, the luxury condominium building at 130 S. 18th St. Read the article

The Murano

An auction for unsold condo units at the Murano in Center City sparked great interest when it was announced in mid-2009. More than a year later, some residents who already owned units there are accusing the building's developer of misrepresenting to them the original level of buyer interest in the building.

Read the lawsuit (.pdf, 445 pages)

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Murano auction fails to spark condo market

An auction of unsold units at the Murano in Center City helped generate a lot of hype. But what the hype failed to do was infect others with the same enthusiasm. The number of unsold condos in Center City remains high, and buyers are few. Read the article

Economic realities: Sold! Luxury condos go at deep discounts

All 40 Murano units were sold yesterday, as well as two more units, in a span of just under two hours - a clear signal that there is a demand for condos in Center City, albeit at much lower prices, according to experts. Read the article

A housing market buzz

A decision to auction 40 units at the Murano is stimulating interest in Center City. Other agents reported similar frenzies of interest. Read the article

Naval Square

During a real estate downturn in which even tax credits couldn’t always guarantee new homes would sell, Naval Square in Southwest Center City has managed to buck the trend with what buyers cite as a combination of location, security, and newness.

Philadelphia's Naval Square a condo success story

During a real estate downturn in which even tax credits couldn't always guarantee new homes would sell, Naval Square managed to buck the trend with what buyers cited as a combination of location, security, and newness. Indeed, the 66 sales at the complex, at the 20-acre site of the former U.S. Naval Home at 24th Street and Grays Ferry Avenue, constituted more than 10 percent of the 604 condo sales recorded by the city from March 1 to June 30. Read the article

Condo sales booming across Philadelphia

Condo sales in Philadelphia nearly doubled from the first quarter of this year to the second, and the numbers were better than at any time since the housing downturn began here in August 2007. Read the article

An Urban Makeover

Philadelphia regenerates itself small bits at a time. Sometimes, however, bits accumulate in close-enough proximity that an entire neighborhood is transformed. New and rehab projects are creating what appears to be a seamless, reinvigorated swath from the river edge of Queen Village through Bella Vista, to Southwest Center City across Broad Street. Read the article

Philly's hot, new location

Southwest Center City has turned out to be a prime example of all the right stuff: reasonably priced housing; property-tax abatements; an active residents' association; proximity to Center City; and a blend of singles, young couples, longtime owners and willing developers. Over the last decade, the neighborhood has transformed from a swath of vacant housing to an enclave of hip rowhouses and trendy cafés, with a construction boom thrown in. Read the article

New life for old Naval Home site

One of the city's longest-running and most significant historic preservation battles - the effort to save and revitalize the historic U.S. Naval Home - came to a successful conclusion yesterday with the formal dedication of a massive luxury housing development by Toll Brothers. Read the article