A Philadelphia developer has acquired a prime Center City site from Parkway Corp., ending Parkway’s stalled plans for a multifamily project. An entity linked to Ryan Kalili purchased the property at 14-30 S. 21st St., on the southwest corner of 21st and Ludlow streets, sources say. Kalili, co-founder of Archive Development, reportedly made the purchase independently of the firm. The sale price has not yet been recorded, and both Kalili and Parkway Corp. CEO Rob Zuritsky declined to comment. Previously used as a surface parking lot, the site was slated for a 31-story apartment tower before Parkway scrapped the project in 2023 due to rising interest rates and construction costs. Located east of the Mütter Museum in a booming development area, the CMX-4-zoned property allows for residential and commercial use. If developed, it would mark Kalili’s first major project in Center City.

*Article courtesy of Philadelphia Business Journal

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