Pearl Properties has taken another step toward developing a 34-story residential tower on Philadelphia’s Jewelers’ Row.
The developer has submitted an application to the Philadelphia Historical Commission seeking approval to modify two historically protected buildings. The request focuses on properties at 124 and 126 South 7th Street.
Plans call for alterations to the rear and side portions of the one-story buildings. Meanwhile, the historic storefronts would be restored and incorporated into the new development.
The proposed tower would include 99 residential units. If approved, the project would introduce new housing while preserving portions of the site’s historic character.
The application marks the first public progress on the project in two years. Previously, Pearl Properties received zoning approval for the development in September 2024.
The site has remained a focal point of redevelopment discussions for several years. In 2019, Toll Brothers demolished six historic buildings after proposing a 24-story condominium tower containing 63 units.
The latest proposal reflects a different development vision. At the same time, the project continues balancing new residential construction with historic preservation requirements.
Jewelers’ Row remains one of Philadelphia’s most recognizable historic commercial districts. Consequently, redevelopment proposals often receive close review from preservation officials and the surrounding community.
If approvals move forward, the project could transform a long-vacant site while preserving key architectural elements that contribute to the character of the historic district.
*Article courtesy of Philadelphia Business Journal
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