Reimagining with Mastery
Cutting ribbons, not corners.
At Dranoff, there is no action unless there is a vision - one that embraces what others sometimes deem impossible. It’s about being bold enough to trust our instincts when it comes to truly transforming a community. Being an agent of change and reimagining urban neighborhoods takes persistence and perception. We’re proud of our track record of not just identifying opportunities, but also creating them.
The Avenue of the Arts
The Avenue of the Arts, a section of South Broad Street and home to many prominent theaters and cultural venues, was part of a plan to develop the historically-significant corridor into a premier cultural and entertainment destination. In 2004, the Avenue of the Arts was still lacking an essential ingredient: housing. Dranoff saw an opportunity to be the first developer to tackle residential development along the Avenue. Symphony House was the first ever ground up high-rise condominium on the Avenue of the Arts and brought new residents, retail, parking and a theater to the Avenue. Dranoff followed this success with 777 South Broad — a 146-unit luxury apartment building — and Southstar Lofts — an 85-unit luxury apartment building. Next up are two signature properties planned across from the Kimmel Center which will further cement this neighborhood as the premier live, work, and play destination in Center City.
The Schuylkill Riverfront / Fitler Square
This transformation changed a physical landscape, and set the stage for continued rejuvenation. Dranoff’s investment in the Philadelphia neighborhood known as Fitler Square today began three decades ago. This riverfront area was an abandoned manufacturing district along the Schuylkill but, with its location and views, it had enormous potential. Dranoff's first project in the area, Locust Point, was a development that transformed an aged industrial warehouse into luxury rental apartments in the 1980s. This commitment to redefining the riverfront continued in 1998, with the redevelopment of the National Publishing Building into Locust on the Park, a 152-unit luxury loft apartment community just across the street. And, in what has become a beacon of rebirth, One Riverside condominium brings a luxurious 22 stories of glass and the ultimate in urban living. Its presence has altered the skyline, and the community it created has vastly increased the desirability of the neighborhood.
Dranoff's vision for Downtown Newark was to establish this urban setting as a true 24/7 downtown. One Theater Square will serve as the anchor of the mission. This glimmering glass and brick tower, developed in partnership with the New Jersey Performing Arts Center, boasts 245 apartments, 12,000 sq. ft. of ground floor retail and 285 parking spaces, and is downtown Newark’s first ground-up high-rise market rate rental apartments in 50 years. As One Theater Square redefines Newark’s skyline, it also stands tall as a symbol of the city’s revival. It’s a true game-changer, breathing new life into this renaissance city.
The Left Bank, one of the largest historic buildings to be converted to residential use, was the first large scale market rate housing in University City. The success of this massive transformation paved the way for the World Café Live venue, an adjacent historic building that also had a complicated footprint. Dranoff reimagined this former plumbing supply warehouse into a nationally acclaimed entertainment space and home to WXPN, Penn's radio station. The successful transformation of these two massive buildings spurred more market rate housing while also creating engaging focal points at the entry to the University of Pennsylvania campus.
The Camden Waterfront
Camden, New Jersey — located across the Delaware River from Philadelphia — was the epitome of urban blight, with its dwindling population and crumbling factories. Yet, in 2001, Dranoff Properties realized the potential of two iconic cities building on each other’s strengths and formed a vision for Camden: transforming it into a revitalized waterfront. The first step of this process was converting the Nipper Building, a historic landmark steeped in abandonment and decay, into The Victor, 341 luxury loft apartments. This building’s overwhelming success and iconic presence then helped spur a flurry of redevelopment projects that have collectively reinvigorated the Camden Waterfront. Today, burgeoning businesses call the Camden Waterfront home, and Dranoff’s initial vision for Camden is a reality.