3rd Tower Starts Construction- Philadelphia Condos

I just recently visited Philadelphia and toured all the new Philadelphia condo projects. Waterfront Square was the first major condo project in Philadelphia that was recently completed last year. The project is planned for 5 high rise condo towers and 2 are already completed. The 3rd tower just started construction last week. There are about 30 brand new condo developments in Philadelphia right now with several more recently announced.  Rittenhouse Square and Northern Liberties are the two hottest areas in Philadelphia right now. There are also several projects downtown that only have one unit per floor. We are not currently seeing projects like this in too many other markets besides the Philadelphia condo market. It will be interesting to see if these units get picked up quickly.