Philadelphia- The City of Brotherly Condos?

Philadelphia has grown a large amount in the last 5 to 10 years. With major companies and banks moving downtown, it was only fitting that residential condos would follow. One thing that sparked the condo boom in Philadelphia back in 2000 was that the city passed a tax abatement law for new commerical and home construction in the city. This was a huge step. For a family buying a $600,000 condo in downtown Philadelphia, they would not have to pay property taxes to the city for a 10 year period saving the family over $10,000 a year and over $100,000 over the course of 10 years. This new law started the boom and Waterfront Square was one of the first major projects on the Delaware River in Philadelphia bringing 950 new units with 5 towers. The city today has over 4000 new condo units protected by this tax abatement law.  New developments are under construction in Center City, Chinatown, Manayunk, along the Delaware River, and in the suburbs.

I am originally from Philadelphia and every time I go back each year, it seems as if 10 brand new condo buildings have sprouted up.  Philadelphia offers an alternative to the big city of New York and many young business professionals are making the move. Philadelphia is now the 5th largest city in the country and growing.

www.newcondosonline.com advertises 21 new condo developments in Philadelphia.  All of these developments can be found here

Philadelphia Condos

Some of the top new developments include:

The Arts       The Ellington        Symphony House            101 Walnut