PHILADELPHIA, PA—The Goldenberg Group, international real estate firm Hines, and ASB Real Estate Investments have launched construction of a new class A residential tower at 1213 Walnut Street in Center City Philadelphia. The project represents the first venture by the partnership of Goldenberg, Hines and ASB.

"This development is an exciting one for us because Midtown Village is a diverse, expanding neighborhood in a high-density, highly amenitized area," says Ken Goldenberg, The Goldenberg Group founder, president and chief executive officer. "We have partnered with Hines and ASB to create a project that will contribute to the unique vibrancy of the neighborhood."

1213 Walnut will be a 26-story 300,000-square-foot, 322-unit for-rent luxury residential tower located in the Midtown Village neighborhood of Center City's Washington Square West submarket. This state-of-the art apartment tower will feature more than 7,200 square feet of retail space on Walnut and Sansom Streets and an amenity package with more than 11,000 square feet of resident community space, including a stunning great room, outdoor terrace lounge overlooking Walnut Street, gaming area, entertainment kitchen, private conference area and "quiet room."