Toll Brothers Apartment Living Tops Out Broad & Noble, a New Luxury High-Rise Apartment Community Coming to Philadelphia

The 18-story, 344-unit luxury mixed-use apartment community totals more than 282k square feet and includes more than 10k square feet of ground-floor retail space

PHILADELPHIA, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, along with joint venture partner Sundance Bay, and general contractor Clemens Construction Company, have topped out Broad & Noble, a new 18-story, 344-unit luxury mixed-use apartment community in Philadelphia, Pennsylvania.

Toll Brothers Apartment Living recently hosted a topping-out celebration at the property for its development partners, construction workers, and local officials. Broad & Noble’s construction started in July 2021 and initial occupancy is anticipated in summer 2023. The project is being financed through a $100.2 million construction loan facility from Wells Fargo. The debt and equity were arranged by Toll Brothers’ in-house Finance Department. Toll Brothers Apartment Living will manage the development, marketing, and property management.

“Toll Brothers Apartment Living is thrilled to develop Broad & Noble, our first luxury apartment community in Philadelphia,” said Charles Elliott, President of Toll Brothers Apartment Living. “We have developed for-sale residential communities here for decades, but Broad & Noble will be our first high-rise apartment community in the heart of the region where Toll Brothers was founded 55 years ago.”

Designed by Barton Partners, a Philadelphia-based integrated design firm, Broad & Noble will offer a mix of studio, one-, and two-bedroom floor plans, and 44 penthouses ranging from studios to two bedrooms. The property features an underground access-controlled parking garage with 106 parking spaces, including EV (electric vehicle) charging stations, and bike storage.

Residences at Broad & Noble will feature high-end luxury finishes and more than 13,000 square feet of best-in-class indoor amenities, including a package concierge, a state-of-the-art fitness center, music, media, and podcasting rooms, a conservatory and private dining rooms, a yoga and cycling studio with video classes, a pet spa, a private storage area, a sky lounge with outdoor deck area and views of the Philadelphia skyline, and a landscaped plaza adjacent to 10,440 square feet of ground-floor retail space.