Originally Posted by jsbrook
Yes, this project has a sad history. If I had to choose, I'd choose the Walnut project. I think it will be more significant for the city and skyline. I don't think they are particularly competing though or necessarily have much impact on each other. 1911 Walnut is a mixed condo and rental, and I think the rental portion will be a wealthier demographic than 1910 Chestnut. I don't know that there's really that much overlap in their target renters.
10 Rittenhouse, 500 Walnut, One riverside, and a few others are in varying states of ultra luxury. However, I have to admit many of the other 4-6 apartment buildings recently built or planned aren't cheap. One bedroom's typically start
at $2,000/month. Someone with an $80k salary who wants to live in a one bedroom will spend about 1/3 of their after tax income on rent. And I emphasize start. The majority of the 1 bedroom units at the Bridge are $2,200-2,500/month.