Southern Land Breaks Ground on 48-Story Multifamily Tower in Philadelphia
PHILADELPHIA — Southern Land Co., a Nashville-based developer, has broken ground on The Laurel, a 48-story condominium tower in Philadelphia. Located in the Rittenhouse Square area, the property will be the tallest all-residential building in the city upon completion. The first units are expected to be available for occupancy in 2021. Solomon Cordwell Buenz is the architect for the project, which will also house 44,000 square feet of retail space. Residents will have access to amenities such as an indoor pool and hot tub, fitness center with a sauna and yoga studio, a bar and catering kitchen and a conference room. Mack Real Estate Credit Strategies provided construction financing totaling $295 million, according to the Philadelphia Business Journal, for the project.