(For more retail coverage, click GlobeSt.com/RETAIL.)

PHILADELPHIA-Grasso Holdings plans to develop a 1.2-million-sf mixed-use complex on Vine Street spanning from 16th to 17th streets. The development cost for Phase 1 is $315 million, and the design includes the potential for an additional 35-story tower aggregating 600,000 sf.

The opening phase consists of a 46-story tower. It will contain a luxury hotel on the first 15 stories that face 17th Street and retail space aggregating approximately 120,000 sf on the other side. Above them will be a combination of about 210 rental and 40 for-sale residential units.

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