Plans for a mid-rise apartment building on the western edge of Center City have been abandoned, and the property owner is now seeking a retail tenant for the existing single-story building.

Following the closure of Rite Aid at 2301 Walnut St. in 2022, Dallas-based Trammell Crow Co. had entered into an agreement to buy the site for the residential project, according to Richard Zeghibe, managing partner of Patriot Development Associates, an entity of Patriot Parking Inc. that owns the property. While Zeghibe declined to disclose the agreed purchase price, he mentioned it was “under $25 million.”

*Article courtesy of Philadelphia Business Journal

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