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Symphony House

NEWS
September 15, 2014 | BY VALERIE RUSS, Daily News Staff Writer russv@phillynews.com, 215-854-5987
THE COLORFUL images of Fats Waller and Bessie Smith painted on the facade of the Royal Theater reflect a past as a film and musical venue designed especially for Philadelphia's African-American community. The Royal, on South Street near 15th, was built in 1920 and is on the city's historic register. But the building has been vacant for more than 40 years, and nearby residents and business owners have become frustrated as it deteriorated into blight. Rather than becoming an anchor to spark development, they said, the Royal had become an anchor that weighed progress down.
BUSINESS
April 16, 2004 | By Henry J. Holcomb INQUIRER STAFF WRITER
Carl E. Dranoff, best known for converting old buildings into modern apartments, is putting the finishing touches on plans for a new 31-story tower on South Broad Street. A formal announcement is expected today. The $92 million project, called Symphony House, will have 160 residential condominiums; a 350-seat venue for the Philadelphia Theatre Company, which plans to present plays, lectures and film festivals; an upscale ground-floor restaurant; and a 395-car garage. Dranoff's partners in the venture are musician and developer Kenny Gamble and Walter Lomax, a physician and health-care entrepreneur.
BUSINESS
October 31, 2008 | By Suzette Parmley INQUIRER STAFF WRITER
The riddle of the moment for Philadelphia's developers, economists, real estate brokers who target high-end property buyers, and just the mildly observant is this: How many millionaires will it take to fill all of the glitzy condominiums being built in Center City? The list of existing, under-construction and planned towers flaunting fancy names and eye-glazing price tags seems endless. There's the Murano, 10 Rittenhouse, Symphony House, Residences at Two Liberty, 1706 Rittenhouse and the Residences at the Ritz Carlton Philadelphia.
NEWS
June 13, 2013 | By Troy Graham, Inquirer Staff Writer
Philadelphia City Council gave preliminary approval Wednesday to a bill that would cap the 10-year tax abatement on new residential construction at $500,000 of value. The cap would go into effect in July 2015. The committee took a rare roll-call vote on the divisive issue, and the bill passed by 9-7, with Marian B. Tasco absent. The bill, sponsored by W. Wilson Goode Jr., could receive final approval on June 20. During testimony on the bill, Goode and Symphony House developer Carl Dranoff had several testy exchanges on the merits of the current tax abatement, which does not have a cap. The abatement has been credited with sparking a building boom - mostly in Center City and surrounding neighborhoods - but has been derided as an unnecessary tax credit to rich homeowners.
NEWS
February 20, 2008 | By Alan J. Heavens, Inquirer Real Estate Writer
Snow began falling as afternoon slid into evening. With the lights of Center City twinkling around and below her, Jane Miles stood by the vast expanse of windows that line one side of her new 27th-floor condominium in Symphony House, watching. "The snowflakes look so big up here," she said, more than a little awe in her voice. "With all the cars whizzing by in the streets below, it's like being in another world. " A world high above Philadelphia that, even a few years ago, Miles and her husband would have been very exclusive residents of. But as condo towers grow more commonplace in the city, taller, well-heeled buyers are choosing to feather their nests in the clouds - or as close as several hundred feet above street level can get them.
NEWS
April 14, 2011 | By Paul Nussbaum, Inquirer Staff Writer
The developer of the Victor Lofts apartment building on the Camden waterfront has put off repayment of a $3 million loan to the Delaware River Port Authority because he's short on cash. The agency lent $3 million to Victor Associates in 2003, interest-free until 2009. The money was part of a $52 million financing package assembled by developer Carl E. Dranoff to convert the historic RCA Victor "Nipper Building" into 341 upscale apartments overlooking the Delaware River and the Philadelphia skyline.
NEWS
February 11, 2014
Distaff dissed As much as the Democratic Party allegedly values women's rights, it appears party leaders in South Jersey had only men in mind to replace Congressman Rob Andrews, who is resigning his seat ("Assessing Andrews," Feb. 5). After 26 years of male domination for that seat, why not select a woman? Arnold Einfal, Voorhees, agent1207r@aol.com Job would wait Retiring Congressman Rob Andrews is the poster child for term limits ("Assessing Andrews," Feb. 5). The least effective legislator in the last 20 years - in terms of proposed bills that became law - Andrews must think his constituents are dolts to believe his claim that the job he is taking at a law firm would not be available to him were he to serve out his full term.
NEWS
September 5, 2014 | By Alan J. Heavens, Inquirer Real Estate Writer
Armed with evidence of increasing demand for new and larger high-rise condominiums in Center City, Carl Dranoff has shifted gears on plans for his One Riverside development at 25th and Locust Streets. Instead of 147 luxury rental apartments, the 22-story, $100 million-plus building will have 88 condos, including two penthouses, that he said will be priced at $700,000 to $4 million. Groundbreaking for One Riverside is scheduled early next year, "depending on permit issuance, which is hard to predict," said Marianne Harris, Dranoff Properties' sales and marketing director.
NEWS
February 20, 2008 | By Alan J. Heavens INQUIRER REAL ESTATE WRITER
Snow began falling as afternoon slid into evening. With the lights of Center City twinkling around and below her, Jane Miles stood by the vast expanse of windows that line one side of her new 27th-floor condominium in Symphony House, watching. "The snowflakes look so big up here," she said, more than a little awe in her voice. "With all the cars whizzing by in the streets below, it's like being in another world. " A world high above Philadelphia that, even a few years ago, Miles and her husband would have been very exclusive residents of. But as condo towers grow more commonplace in the city, taller, well-heeled buyers are choosing to feather their nests in the clouds - or as close as several hundred feet above street level can get them.
ENTERTAINMENT
February 8, 2014 | By Inga Saffron, Inquirer Architecture Critic
Since making his inauspicious debut on South Broad Street in 2007 with the pink-hued, milk-bottle-shaped Symphony House, developer Carl Dranoff has gone on to do something that once seemed improbable: He has resurrected a big stretch of the battered commercial street as a residential boulevard. A canny developer, Dranoff seems to possess a sixth sense about where the real estate market will go next. He gets his urbanism mostly right, by packing the ground floors with generous commercial spaces and finding tenants to turn the lights on. But architecturally, his growing collection of condos and apartment houses has been a mixed bag. His follow-up to Symphony House, a mid-rise called 777, drips with Art Deco-inspired bling, while his latest, Southstar Lofts, is shaping up to be a rather staid white box. It's as if his South Broad is still trying to figure out what it wants to be when it grows up. Grand boulevard?
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