Scannapieco Development Corporation

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Tom Scannapieco
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Location: New Hope, PA
Founded: 1984

Scannapieco Development Corporation

Tom Scannapieco
President

Over the last 12 years, Scannapieco Development Corporation’s focus has been in the ultra-luxury residential market, with high-profile projects such as the towers at 1706 Rittenhouse and 500 Walnut. That market was previously unaddressed in the city, says president Tom Scannapieco. “The ultra-luxury residential towers introduced an innovative and distinct set of core components that addressed the demand of discerning high-net-worth individuals [who were] coming from the suburbs seeking large, expansive units.” The towers feature only one or two units per floor, have large balconies and introduced the first automated, robotic parking system in Philadelphia, says Scannapieco: “With the swipe of a fob, cars descend below and are automatically parked, without any valet or waiting time.”

WORDS OF WISDOM: “Success is doing ordinary things extraordinarily well.” – Jim Rohn

More than two-thirds of the buyers of Scannapieco Development’s ultra-luxury residences moved into Center City from the Philadelphia suburbs, which “illustrates the demand that was filled by Scannapieco’s [offerings],” says Scannapieco. “This affluent audience brings significant wealth to Philadelphia, driving sales for retailers, restaurants and services, and bringing in higher-end stores and dining establishments that attract tourists and contribute to a rise in national exposure.”