CCRA posted this on their Facebook yesterday:
Pearl Properties has created preliminary plans to erect a high rise residential apartment tower on the southwest corner of 19th and Chestnut with the residential entrance on 19th. The project is just east of the Boyd Theater site and across the street from the CVS pharmacy. The plans call for the preservation of the property situated on the southwest corner of 19th and Chestnut, recently occupied by the Qdoba restaurant. Sketches show retail on two floors accessible from the ground floor with the entry on Chestnut. The site is zoned CMX4 (center city commercial mixed use), which prescribes a floor area ratio (FAR) of between 500% and 700% depending upon whether the property qualifies for Section 14-702 bonuses for amenities such as public art, public space, underground parking or green elements. A 7 story building with a footprint occupying 100% of the buildable space on a lot has an FAR of 700%, while a 14 story building with a footprint occupying 50% of the buildable space would have an FAR of 700%. CCRA has created a major development taskforce which has met twice with Pearl Properties and is making arrangements for Pearl's representatives to present their plans at a public meeting to be held on April 29 at 7:00 PM, at a location still to be determined. Stay tuned.