Abrams Realty & Development has decided to scrap its previous plan to build a multifamily high-rise at the former Wendy’s site on Walnut Street and will start from scratch, writes Paul Schwedelson for the Philadelphia Business Journal.
Instead of the previously envisioned 18-story, 198-unit building, the developer is now planning an 11-story, 75-unit building with the first three floors reserved for retail. Owner Peter Abrams said that while plans are still being formulated, he believes construction could start by late spring 2026.
“We want to build the coolest building in Philadelphia,” he said.
Located at 1101 Walnut Street on the northwest corner of 11th and Walnut, the site sits in a prime Washington Square West spot at the heart of Jefferson Health’s Center City campus. Abrams acquired the three parcels at 1101-1107 Walnut Street for $13.3 million in 2019 and 2020.
The newly redesigned project emphasizes wellness and sustainability, with potential use of mass timber and plans to attract health-focused tenants for the retail portion of the building.
“That building would be different than anything else in that particular marketplace,” he said.
Read more about Abrams Realty and its development plans for the northwest corner of 11th and Walnut streets in the Philadelphia Business Journal.
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Editor’s Note: This post first appeared on PHILADELPHIA Today in August 2025.
