The developers of 4601 Market St., which includes the stately, gold-cupolaed Provident building, are reportedly moving ahead with plans to build six apartment buildings, including an 18-story tower, on the site.

Executives with Iron Stone Real Estate Partners, which purchased the property in 2019, told The Philadelphia Inquirer’s Jake Blumgart that the firm is moving ahead with plans to add 1,240 apartments on the site, which stretches west along Market Street from 46th to 48th Streets and north along 46th Street to Haverford Avenue.

The property is zoned CMX-3, a mixed-use designation that means the residential buildings will likely be constructed “by right” with little required community input on things like the inclusion of affordable housing. Continue Reading

The West Park Apartments towers (Photo by West Philly Local).

The city is selling two public housing towers in the West Park Apartments complex near the 46th Street El stop, renovating a third and building new low-income homes on the site.

The Philadelphia Housing Authority (PHA) will use proceeds from the sale of two towers and an undisclosed amount of “increasingly valuable land” to fund the renovation of the third tower and build more modern homes (low-rise apartments and townhomes) for low-income residents, according to a statement.  Continue Reading

City Council formally approved the sale of the sprawling Provident Mutual Insurance Co. building and surrounding land on Thursday, clearing the way for the long-anticipated development of the site.

Iron Stone Real Estate Partners has been shopping its plan to develop a healthcare campus on the site in collaboration with Public Health Management Corp. and The Children’s Hospital of Philadelphia around to neighborhood groups and public meetings since September 2018.

Last year, the city selected the proposal, which included an approximately $10 million sale price, after a bidding process that began in 2017.  Continue Reading

Councilwoman Jannie Blackwell has scheduled another community meeting about the future of the former Provident Insurance Co. building at 46th and Market. The previous meeting discussing the proposed sale of the property to local developer Iron Stone Real Estate Partners took place last month, after which Blackwell halted a vote on the sale in City Council. The previous community meeting called for more transparency in the sale process.

The meeting will take place on Tuesday, Jan. 29, from 6 – 8 p.m. at West Philadelphia High School (49th and Chestnut).

The Walnut Hill Community Association also held a community meeting about the proposed development of the property earlier this month. Read more about it here.

Walnut Hill residents got a chance on Thursday to ask the proposed developers of the Provident Insurance Co. building at 4601 Market Street what benefits the neighborhood would get from the healthcare campus planned for the site.

Iron Stone Real Estate Partners execs presented their plans for the building at a Walnut Hill Community Association meeting aimed at finalizing a “community benefits agreement,” a contract that would reflect community requests on everything from hiring practices to parking to the use of green space in development projects that get public subsidies.  Continue Reading

The proposal to convert the Provident Mutual Insurance Co. site at 46^th and Market into a healthcare campus hit a major roadblock on Thursday when Councilwoman Jannie Blackwell halted a vote on legislation that would have allowed the city to sell the property.

The move followed a contentious public meeting in West Philly on Tuesday where several community members spoke against the proposal, which the city selected this summer after a bidding process. Criticisms included the low sale price of $10 million and a lack of transparency in the bid selection process.  Continue Reading