Philadelphia

TROUBLE MAKER WENDY’S is on the MOVE – PLUS The W Preps for the groundbreaking.

June 5, 2014 by HughE Dillon

Alterra recently the150,000 square foot Class B office building at 1515 Chestnut Street in
2013 and in partnership with The Scully Company is intending to redevelop the property into ~175
Class A apartments, 8,000 square feet of office, and 7,500 square feet
of ground floor retail. The project is currently in the planning stages
with construction slated to start in Q2 2014 and completion in Q2 2015.

 That Wendy’s on the corner has been a magnet of trouble for years, and it was deemed a deterrent to obtaining business for the new project;  BUT it’s a money maker too. What to do, the Alterra decided to move the Wendy’s from the corner and

 put it in the center of the building where the Giovani Pizza and the Falafel Bar were located, after negotiated a lease buyout from the two eateries. They will now move to 1533 Chestnut in the long vacant Ritz Camera Shop.

What’s going in on the corner where Wendy’s soon will be history (as of August), a WELLS Fargo. Remember about a month ago I tweeted that WELLS FARGO was leaving 1500 Market Street, now we know where they’re going, around the corner.

Across the street is where the new W Hotel is going. This week they are beginning to test the soil in anticipation for the building as well as the extensive underground parking lot they’re building.  Last week officials from the project went around to the surrounding buildings, including the new Alterra project, and took photos of them inside an out – “The Before Photos”, just in case vibrations from the drilling and building the W causes any cracks in the neighboring buildings.  So busy, busy happening at this already busy intersection and #TrafficAlert