When most people think of Philadelphia, they imagine steel mills and a local economy that relies almost entirely on this industry. However, over the past few decades, the city has undergone a shift in identity. From an evolving cultural center, to the hometown of one of the country’s top law and business school’s, Philly is quickly becoming a go-to destination.
In addition to this newly earned status of as a cultural hub, the surrounding areas have also been developing a unique identity of their own. The suburbs that immediately surround Philadelphia are starting to be known for a common thread. That is to say, they all share a heightened look (and pricetag) of luxury.
Again, Philly and the surrounding areas may not immediately signal opulence or the same sense of a continental metropolis like New York, London or Paris, but for those keeping up with the changes, Philadelphia is not too far behind on that list.
The real estate market that surrounds Philadelphia is becoming more and more high end by the day. One of the most noticeable markers of this trend is the number of condominiums being built and purchased in this area. Additionally, the style of the single family home has changed dramatically over the past few years and is certainly comparable to any brownstone or condo that you might find in some of the most sought after neighborhoods in Manhattan.
One of the most well-known buildings that has taken Philadelphia’s real estate market to new heights is Two Liberty Place. This is a 58 story building, currently the third largest in the city. And you can just imagine the soaring views that one can witness from these units.
In 2007, the floors designated for residential living space were launched, however the top floors were left incomplete under the direction of the developer. Soon after, the well known real estate investment firm, iStar took over the project and helped accelerate not only the top portion of the building , but contributed to the popularity of the condo market in this area. IStar took advantage of this growing demand and supplied the goods in style.
This building coupled with those in the nearby neighborhood are subtly changing the look of the area, and there are no signs that this trend will be slowing down any time soon.