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Philadelphia Gets Its First Vertical Neighborhood

PHILADELPHIA (CBS) -- Philadelphia has gotten its first vertical neighborhood.

The 830,000 square-foot FMC Tower in University City is the new home of a luxury hotel and apartment hybrid.

"What's amazing about this building is it's one step removed from the heart of the city," says Larry Korman with AKA Real Estate and Korman Communities, "so therefore you have the entire city on a silver platter."

Korman says along with a rooftop garden, an indoor driving range and yoga studio, this vertical neighborhood offers some amenities that make it one of a kind.

"An indoor pool, two tier movie theatre, fitness center, wellness program," he said, "we're going to have the Michelin-rated restaurants coming here to Philadelphia."

Korman says people can opt to rent one of these state-of-the-art apartments for one night or one year and everything in between.

"It's something that's unique," he said, "not just to Philadelphia, but anywhere in the country."

Korman says apartments will be ready for residents to move into within the next few weeks.

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