“Vertical Neighborhood” Coming to University City

An enormous new skyscraper in University City is home to what developers are calling Philadelphia’s first “vertical neighborhood” – a place where living space, offices, and multiple amenities like entertainment and dining come together under one roof. FMC Tower is 830,000 square feet and combines hotels and apartments for hybrid luxury suites where residents can stay for one day or one year, depending on their preference.

FMC Tower will be a pioneering “vertical neighborhood” with living space, offices, and amenities like dining and entertainment all under one roof.

Ground broke for FMC Tower back in May 2014. The project is now within the range of completion, and it is estimated that residents will be able to move in within a few weeks. The Tower will be part of a larger project near Walnut and 30th Streets, a three-building plot called Cira Centre South. The other buildings will consist of an elevated green space called Cira Green and another skyscraper, dubbed Evo.

But back to the vertical neighborhood. Larry Korman with AKA Real Estate and Korman Communities was quoted by CBS3: “What’s amazing about this building is it’s one step removed from the heart of the city, so therefore you have the entire city on a silver platter.” Korman cites a host of amenities that will make FMC Tower unique, including an indoor driving range, a two-tier movie theater, and a fitness center. He also stated that Michelin-starred restaurants could eventually number among the building’s tenants.

The top nineteen floors of the vertical neighborhood will feature apartments and extended-stay suites. There will also be extensive office space, tenants of which will include the FMC Corporation and the University of Pennsylvania, which happens to own the ground on which the building sits. According to Penn Facilities and Real Estate Services (FRES), the University is a “longstanding partner” in Cira Centre South’s development. It has signed a 20-year lease in FMC Tower and has moved several departments over to the new location.

Locals believe that the “vertical neighborhood” concept is indicative of University City’s future. “The University City innovation district, expected to unfold in several phases over the next 20 years, will eventually include several new skyscrapers in the vicinity,” Michael Tanenbaum wrote in a Philly Voice article.