The redevelopment of the former Vietnam Palace site in Chinatown has been in the works for more than 5 years. Back in 2016, the owners of the property got a variance to build a 7-story building with 18 residential units and a restaurant on the ground floor at 222 N. 11th Street. Nothing happened for years and Vietnam Palace continued to operate. Then, the pandemic struck and the restaurant ended up closing down in early 2020.
The 2-story building that held the restaurant for decades was demolished earlier this year and it looks like construction is now finally moving forward. When we were out eating at Lee How Fook across the street last week, we spotted steel rising on the site.
It’s great to see this project moving forward and for some additional density to be added in this section of Chinatown. We imagine the original idea was to reopen Vietnam Palace in the commercial space when the project planning process started more than 5 years ago. However, the owners of Vietnam Palace did announce that the restaurant was closing permanently. So, maybe another restaurant will open in its place? Or, maybe Vietnam Palace will make a surprise comeback. Who knows?
How do you feel about this project? Do you miss Vietnam Palace?
Kyle is a commercial real estate agent at Rittenhouse Realty Advisors, a homeowner, and a real estate investor in Philadelphia. Kyle uses his extensive Philadelphia real estate market knowledge to help his clients buy and sell multifamily investment properties, development opportunities, and industrial sites.
Email Kyle@RittenhouseRealty.com if you are looking to buy or sell a property