{"id":1004067620,"date":"2013-02-20T09:22:21","date_gmt":"2013-02-20T17:22:21","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=104320"},"modified":"2020-04-16T01:13:03","modified_gmt":"2020-04-16T09:13:03","slug":"criticized-kingsley-court-development-to-kick-off-in-roxborough-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/criticized-kingsley-court-development-to-kick-off-in-roxborough-2\/","title":{"rendered":"Criticized Kingsley Court Development to Kick Off in Roxborough"},"content":{"rendered":"

By Veronica Grecu, Associate Editor<\/em><\/p>\n

A 3.5-acre vacant property at 5627 Ridge Avenue in Philadelphia\u2019s Roxborough neighborhood will be replaced by a community of 32 twin homes, according to a post on NakedPhilly.<\/a> <\/em>While the project proposed by local developer Stephen Goldner has stirred much debate among neighbors who were concerned that the development would be too dense for a suburb, the former Ivy Ridge Assisted Living site has won approval from the City\u2019s Planning Commission.\"\"<\/a><\/p>\n

An older report from Patch.com<\/a><\/em> reveals that other developers have also come up with redevelopment projects for the site of the closed assisted living center, but Stephen Goldner\u2019s project, called Kingsley Court, turned out to be the most documented and interesting.<\/p>\n

Reportedly, the property still belongs to Rosalind Lavin\u2014a Villanova socialite who owes the state $700,000 in federal fines\u2014but Goldner has secured a deal to purchase the site. Each of the 32 twin homes will have four bedrooms and 3.5 baths and will be available for sale for around $320,000.<\/p>\n

Kingsley Court\u2019s success as a residential development is still uncertain, but the asking sales price is surely above average. According to a Trulia market report quoted by the Philadelphia Inquirer<\/a><\/em>, the average sales price in Roxborough\u00a0from November 2012 to January 30, 2013 was $246,174. That\u2019s less than half of the asking sales price in Philadelphia\u2019s most expensive neighborhood, Rittenhouse Square, where the average price for the same period was $580,738. The cheapest neighborhoods to invest in are Overbrook, with an average asking sales price of $134,521, followed by Northeast Philadelphia, with $158,267.<\/p>\n

Image via Google Maps<\/em><\/h6>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

A 3.5-acre vacant property at 5627 Ridge Avenue in Philadelphia’s Roxborough neighborhood will be replaced with a complex of 32 twin homes, according to a post on NakedPhilly. While the project proposed by local developer Stephen Goldner has stirred much debate among neighbors who were concerned that the development would be too dense for a suburb, the former Ivy Ridge Assisted Living site has won approval from the City’s Planning Commission.<\/p>\n","protected":false},"author":258,"featured_media":0,"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-1004067620","post","type-post","status-publish","format-standard","hentry","category-latest","category-philadelphia"],"acf":[],"yoast_head":"\nCriticized Kingsley Court Development to Kick Off in Roxborough - 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\/criticized-kingsley-court-development-to-kick-off-in-roxborough-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Criticized Kingsley Court Development to Kick Off in Roxborough\" \/>\n<meta property=\"og:description\" content=\"A 3.5-acre vacant property at 5627 Ridge Avenue in Philadelphia’s Roxborough neighborhood will be replaced with a complex of 32 twin homes, according to a post on NakedPhilly. 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