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The historical records for the city of Philadelphia suggest there was always some sort of lodging at 315 Arch Street, beginning with a small hotel/inn in the 19th century. In 1915, one Charles E .Schmidt commissioned architects Sauer & Hahn to build anew on the site. Mr. Schmidt wanted an apartment building with commercial space at the street level. That building is what we see today at 315 Arch Street. Rehabbed in the mid 2000s, this building “went condo” in 2006. Most of the 52 units are one bedroom/one bath. There still is commercial space at street level.
The entry foyer at 315 Arch, which includes a beautiful original stairwell and an elevator, has been remodeled. Individual apartments have wood floors, large windows, neutral kitchen and baths of decent quality. Many units have washers/dryers, though the building also had coin-op laundry on each floor. Some owners have upgraded their kitchen and bath, so while most units hovered around $300/square foot in 2016, you may seem some higher prices for the upgraded residences. Some of the apartments also have views of the city skyline.
315 Arch is pet friendly. There is no parking, so buyers need to rent a space. No fitness center, concierge or doorman — good news for the person who wants a no-frills, low-condo-fee building.