1101 Chestnut Street
1101 Chestnut Street is the final phase of the East Market Development and the culmination of a decade of planning and construction for the 4.3 acre site in downtown Philadelphia. Following the completion of 2 residential towers with 563 apartments, 125,000 sf of retail, a 175,000sf multi-tenant office building and a 236 room Hilton hotel, National Development is developing a 450,000 sf Medical Office Building (MOB) above a 300 car below-grade parking structure expected to be complete in 2023. The design preserves the original master plan intent and provides for the completion of Chestnut Walk from Market Street to Chestnut Street, and the continuation of ground floor retail and pedestrian activation. The design of the building is a compliment to the existing 2 story industrial façade expressions and introduces a contemporary, cutting edge design to the neighborhood. National Development is developing 1101 Chestnut Street for the ownership group led by National Real Estate Advisors as well as Joss Realty, Young Capital, and SSH Real Estate.
1101 Chestnut Street is the final phase of the East Market development. National Development saw the need to add daytime activity to East Market in order to compliment the newly developed 560 residential units in the earlier phases. By taking advantage of the growth of the healthcare comminuty n Philadelphia, 1101 will bring over 750,000 visitors to the site each year supporting the retail and hotel developments.