Philadelphia
Work Beginning on $79 Million Upscale Residential Complex in Conshohocken
A new upscale apartment community called The Courts at Spring Mill Station is coming to Conshohocken, a suburb of Philadelphia. Almost one year after announcing the project, real estate investment trust Home Properties broke ground last week on the $79 million complex during an official ceremony held onsite, at the corner of Hector and North Lane.
Philadelphia Navy Yard Adds New Marriott Signature Hotel
Last week development company Ensemble Hotel Partners, LLC celebrated the groundbreaking of its first Navy Yard Corporate Center project: a new Courtyard by Marriott hotel located at the corner of Rouse Boulevard and Intrepid Avenue.
Work Starts on 149-Unit Multifamily Development; Upscale Project in South Philly to Follow Soon
Mayor Michael Nutter, Philadelphia City Councilman Curtis Jones, Jr. and representatives of development company J.G. Petrucci broke ground last week on a new transit-oriented residential community located at 4862 Umbria Street, right next to SEPTA’s Ivy Ridge Rail Station.
NewCourtland LIFE Center Underway for North Philadelphia Seniors
n underutilized brownfield in North Philadelphia is being redeveloped by NewCourtland Elder Services, Inc., a non-profit organization providing community services, into a $5.6 million mixed-use complex for seniors. The event was marked by a groundbreaking ceremony held at the site attended by city officials and local representatives.
Madison Apartment Group Breaks Ground on Luxury M-F Development in Bucks County
By Veronica Grecu, Associate Editor Madison Apartment Group, the multifamily operating arm of Philadelphia-based BPG Properties, Ltd., recently broke ground on an apartment community called Madison New Britain and located in Chalfont, PA, in the heart of historic Bucks County. Madison New Britain is the first multifamily rental community to be created in the region […]
First Affordable Housing for Gay Seniors to Break Ground Next Month
By Veronica Grecu, Associate Editor A $20 million affordable housing community for elderly gay seniors will break ground in October thanks to a grant from the Pennsylvania Housing Finance Authority. According to The Philadelphia Gay News, the $12 million low-income tax credits were purchased by Wells Fargo Bank, while the remaining $8 million is being […]
Chestnut Hill Tower Changes Hands for $16.75 M; JV Announces Upscale Multifamily Project in Plymouth Meeting
By Veronica Grecu, Associate Editor Gebroe-Hammer Associates, a private real estate investment firm based in Livingston, NJ, has closed the sale of an 18-story residential building located at 7600 Stenton Avenue, in the upscale Chestnut Hill neighborhood. The seller, an undisclosed out-of-state private owner, and the buyer, a Gebroe-Hammer client who also remained unnamed, were […]
Developer Reveals Tentative Redevelopment Plan for Vacant Ajax Metal Works Site
By Veronica Grecu, Associate Editor Philadelphia’s waterfront has attracted yet another prominent developer with plans to stir things up in the area. Michael Samschick, who has backed several development projects across the city, wants to turn the vacant Ajax Metal Works site into a sparkling mixed-use complex, according to a PlanPhilly.com report. Located at 1000-1052 […]
Two New Mixed-Use Developments Proposed for the Delaware River Waterfront
By Veronica Grecu, Associate Editor The Philadelphia City Planning Commission received a proposal calling for a four-tower residential and retail complex at the former World Trade Center site, according to PlanPhilly.com. Reportedly, one of the towers would rise 426 feet, two of them would climb 227 feet, and the smallest would rise just a bit […]
University City Science Center Announces New $15 Million Mixed-Use Tower
By Veronica Grecu, Associate Editor In less than one month the University City Science Center (UCSC) will break ground on a new mixed-use tower located at the corner of 38th and Market Streets in West Philadelphia. A $15 million joint venture between the University City Science Center and Wexford Science + Technology, a private real […]