A neighborhood meeting will be held to elicit comments on plans proposed for 2402 Market, the former " Marketplace Design Center". The parcel is currently zoned CMX 4, a commercial mixed use classification which permits a 500 FAR (floor area ratio) so that the project's square footage can amount to 5 times the lot size. The existing structure is 5 stories in height and, according to the developer, contains 268,000 square feet. The plans call for a 20 story tower rising from the fifth floor which will contain 313 residential units. The podium comprises about 34,000 sq. ft. of restaurants and retail at street level. Floors 2-8 contain 373,000 sq. ft. of office space with floor-to-ceiling windows. Floors 9-20 will house 313 luxury apartments (including 1,2,and 3 bedroom units, lounges, roof terraces, and fitness center).
A newly constructed riverfront promenade, landscaped for public use, will connect Market and Chestnut Streets to accommodate outdoor dining and recreation, along with street level improvements around the building. The existing building's façade will receive a fresh brick upgrade which accommodates larger, floor to ceiling, energy-efficient windows. Parking will be provided in an adjacent garage.
The Department of Licenses and inspections has determined that the plans conform to CMX 4 strictures so the project may be built "of right". Pursuant to the zoning code, a non binding Civic Design Review meeting will be held on May 3 at 1 pm on the 18th Floor of 1515 Arch Street.