{"id":1004050286,"date":"2012-10-17T10:11:41","date_gmt":"2012-10-17T18:11:41","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=75212"},"modified":"2022-12-05T04:37:13","modified_gmt":"2022-12-05T12:37:13","slug":"work-starts-on-149-unit-multifamily-development-upscale-project-in-south-philly-to-follow-soon","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/work-starts-on-149-unit-multifamily-development-upscale-project-in-south-philly-to-follow-soon\/","title":{"rendered":"Work Starts on 149-Unit Multifamily Development; Upscale Project in South Philly to Follow Soon"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">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\u2019s Ivy Ridge Rail Station.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/the_station_at_manayunk_phila.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-75238\" title=\"the_station_at_manayunk_phila\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/the_station_at_manayunk_phila.jpg\" alt=\"\" width=\"300\" height=\"194\" \/><\/a><\/p>\n<p style=\"text-align: justify\">An earlier version of the project had been proposed by Mayor Nutter in 2005, when he served as a councilman in Manayunk City. According to <em>PlanPhilly.com<\/em> and <em>NewsWorks<\/em>, the original plan called for a 226-unit condominium that would have been constructed by a different developer as \u201cUmbria Village.\u201d<\/p>\n<p style=\"text-align: justify\">However, in November 2011 the eight-acre property was acquired by J.G. Petrucci Co. which slightly altered the project and now plans to develop a four-building complex with 149 rental units designed for young professionals, newly wedded couples, seniors or single residents. All units will feature 9-foot ceilings, granite countertops and stainless-steel kitchens. The $40 million project is now called \u201cThe Station\u2019\u201d and will be completed in about 12 months. This is J.G. Petrucci\u2019s first development of this kind in Philadelphia.<\/p>\n<p style=\"text-align: justify\">Another multifamily project with 48 upscale apartments will soon begin in South Philadelphia. According to\u00a0<em>Philadelphia Inquirer<\/em>, local developer Leo Addimando paid around $3 million for the former Catholic grade school at 12<sup>th<\/sup> and Wharton Streets, which was owned by the Archdiocese of Philadelphia. Tentatively dubbed \u201cWharton Street Lofts,\u201d the project will also feature a huge roof deck with views to the adjacent Columbus Square <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/archdiocese-building.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-75241\" title=\"archdiocese building\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/archdiocese-building.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a>Park, nearly 40 parking spaces and interior storage for 50 bicycles.<\/p>\n<p style=\"text-align: justify\"><em>The Passyunk Post<\/em> says that plans call for 37 one-bedroom units averaging 750 square feet, 9 two-bedrooms of around 1,040 square feet and 2 three-bedroom units of 1,750 square feet each. Work is scheduled to start in the first quarter of 2013 and it will take about one year.<\/p>\n<h6 style=\"text-align: justify\"><em>Rendering of The Station project courtesy of\u00a0J.G. Petrucci Co. website<\/em><\/h6>\n<h6 style=\"text-align: justify\"><em>Catholic grade school image via nakedphilly.com<\/em><\/h6>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&rsquo;s Ivy Ridge Rail Station.<\/p>\n","protected":false},"author":258,"featured_media":1004506610,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1494],"tags":[],"class_list":["post-1004050286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-philadelphia"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Work Starts on 149-Unit Multifamily Development; Upscale Project in South Philly to Follow Soon - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/work-starts-on-149-unit-multifamily-development-upscale-project-in-south-philly-to-follow-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Work Starts on 149-Unit Multifamily Development; Upscale Project in South Philly to Follow Soon\" \/>\n<meta property=\"og:description\" content=\"Mayor Michael Nutter, Philadelphia City Councilman Curtis Jones, Jr. and representatives of development company J.G. 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