{"id":1004071146,"date":"2013-04-17T11:10:24","date_gmt":"2013-04-17T19:10:24","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=119468"},"modified":"2020-04-24T05:57:31","modified_gmt":"2020-04-24T13:57:31","slug":"ardmore-township-oks-dranoff-properties-56-million-luxury-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ardmore-township-oks-dranoff-properties-56-million-luxury-project\/","title":{"rendered":"Ardmore Township OKs Dranoff Properties\u2019 $56 Million Luxury Project"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">The first phase of a challenging revitalization effort in Ardmore is now closer to fruition as the developer, Dranoff Properties, unveiled the project\u2019s official name: One Ardmore Place.<\/p>\n<p style=\"text-align: justify;\">Originally unveiled in 2008 as the Cricket Lot or the Ardmore Station, the project was downsized from a $180 million, three-phase investment with 335 apartment units and 120,000 square feet of office and retail space. According to the <em><a href=\"https:\/\/www.bizjournals.com\/philadelphia\/blog\/natalie-kostelni\/2013\/04\/new-56-million-project-for-ardmore.html\" target=\"_blank\" rel=\"nofollow\">Philadelphia Business Journal<\/a><\/em>, Dranoff Properties was forced to resize the original project because the company failed to secure the federal and SEPTA financial help which included a $25-million TIGER grant from the U.S. Department of Transportation. Reportedly, the $15.5 million received from the state will be reinvested in the revised project while the developer is investing $44 million.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/04\/One-Ardmore-Place.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-119470\" title=\"One Ardmore Place\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/04\/One-Ardmore-Place.jpg\" alt=\"\" width=\"300\" height=\"211\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Conveniently located near the Ardmore train station, the $56 million One Ardmore Place will transform the township-owned Cricket Avenue parking lot into 121 high-end rental units with state-of-the-art amenities and a 24\/7 concierge, 10,500 square feet of street-level retail space, as well as a public\/private ample parking component with either one, two or three decks with more than 200 parking spaces.<\/p>\n<p style=\"text-align: justify;\">As <em><a href=\"https:\/\/mainlinemedianews.com\/articles\/2013\/04\/17\/main_line_times\/news\/doc516d60f200da1410172773.txt?viewmode=fullstory\" target=\"_blank\" rel=\"nofollow\">Main Line Media News<\/a><\/em> previously reported, the project is estimated to create 900 construction jobs and 80 permanent retail jobs and generate around $40 million in annual revenue once construction is completed.<\/p>\n<h6 style=\"text-align: justify;\"><em>Rendering of One Ardmore Place courtesy of Danoff Properties<\/em><\/h6>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The first phase of a complex revitalization effort in Ardmore is now closer to fruition as the developer, Dranoff Properties, unveiled the project&rsquo;s official name: One Ardmore Place.<\/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-1004071146","post","type-post","status-publish","format-standard","hentry","category-latest","category-philadelphia"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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