Scannapieco Development Corporation’s recent projects – 500 Walnut and its predecessor 1706 Rittenhouse Square – have transcended the residential real estate market in Philadelphia by establishing a new brand of ultra-luxury residences never before offered in the City. In 2011, the Urban Land Institute recognized 1706 Rittenhouse as one of the 20 best projects in the Americas and was the first residential project in Philadelphia to receive this designation. Tom Scannapieco was also awarded a citation from Mayor Michael Nutter for creating outstanding examples of intelligent, creative and mindful design. His communities have been recognized as “game changing” and have established him as the expert in the ultra-luxury market.
Both 1706 Rittenhouse and 500 Walnut have not only achieved record-breaking sales but have positioned Scannapieco Development Corporation as the leader in the top end of the real estate market.
This exclusive tower of 34 custom, large-scale residences, situated directly across from Independence Hall and Park, is located in the prestigious Society Hill neighborhood. From the state-of-the-art parking system to its world class amenities and jewel location, 500 Walnut is the pinnacle of urban living in Philadelphia. 500 Walnut currently holds the record as having sold the most expensive residence in the city; the penthouse sold for $17 million.
This 31-story modern structure featuring 31 full-floor residences of over 4200 square feet, with prices starting at $4 million, was the first of its kind in the City. It was also the first residential project to feature an automated robotic parking system. The project received the designation in 2011 by the Urban Land Institute as one of the Twenty Best Projects in the Americas.
The private gated townhouse community in New Hope, Pennsylvania, features 37 exclusive homes with distinctive architecture and design. Each home is uniquely customized and features private elevators, fireplaces, high ceilings and exquisite finishes. These homes have sold for more than twice what the next comparable project is selling for, making it Bucks County’s most exclusive community.
Waterview features 28 ultra-luxury residential condominiums and townhomes on the banks of the Delaware River and Delaware Canal in the resort community of New Hope, Pennsylvania. Situated around a courtyard setting, these large-scale condominiums and townhomes established a new benchmark in Bucks County as some of the highest priced real estate in the region.
Located in New Hope, Pennsylvania, this once former paper mill factory located between the Delaware River and the Delaware Canal was redeveloped into a 62-unit luxury riverfront condominium community. The three-story condominiums on the river set a record for the highest per square foot condominium to be sold in Pennsylvania in 1986 for over $450/square foot.
Tom Scannapieco is President and CEO of Scannapieco Development Corporation and one of the most accomplished developers in the Philadelphia region, recognized as being a pioneer and visionary thinker, taking risks that have resulted in record-setting projects. Tom has completed over $1 billion of development in Pennsylvania, New Jersey and Maryland. His award-winning ultra-luxury projects have redefined the residential condo market and have been recognized as “game changing” for the Philadelphia region. His projects have consistently broken sales records for the City, and his penthouse unit at 500 Walnut remains the most expensive residential unit ever sold in the City ($17.6M [raw space] – breaking the previous record holder – his penthouse unit at 1706 Rittenhouse, which sold for $1.25M [raw space]). Tom has over 40 years of experience in real estate development with an exceptional track record of successful projects. He and his company have been awarded the Inc.500 List of America’s fastest growing, privately owned companies.
Some of his more recent accolades include being the recipient of the Heroes of Liberty Award from the National Liberty Museum. Tom is also a current member of the Board of Trustees of the Michener Art Museum and National Liberty Museum, is a former Board member of Univest Bank, and is on the committee for the Global Philadelphia Association, which recently was able to achieve the designation for Philadelphia as a World Heritage City.