1100 Market Street and The Ludlow
1100 Market was the first project of the East Market development, incorporating the demolition and redevelopment of an existing block long structure from Market Street to Ludlow Street between 11th and 12th Streets. The approximately 500,000 SF mixed use project includes over 105,000 SF of retail space, a 322 unit residential tower known as The Ludlow, an underground parking garage, and large format digital signage facing Market Street. The project formed the foundation for future development on the East Market block: incorporating a central loading dock for the East Market buildings and a new street level urban space with the creation of Ludlow Street and Chestnut Walk. Pre-development began in 2013, with a groundbreaking in 2014, and initial opening of the retail and residential components occurred in 2018. The architect on the project was Philadelphia based BLTa Architects, and K & Co. provided interior design services for the residential component of the project.
National Development developed 1100 Market for the ownership group led by National Real Estate Advisors as well as Joss Realty, Young Capital, and SSH Real Estate. The project’s location offered a unique opportunity. The site was a prime location: close to transit, a vibrant Philadelphia neighborhood called Midtown Village, and the busy Convention Center and Reading Terminal Market. The location is also within walking distance to City Hall and the main office district along Market street. Over the years the site had languished despite these strong fundamentals. National Development, along with ownership, crafted a development plan for the site that would lay the ground work for future development on the East Market block, while incorporating a diverse mix of uses including retail, residential, parking and public space to activate the site and seek to yield returns to the investors.