{"id":1004071745,"date":"2013-04-25T08:45:00","date_gmt":"2013-04-25T16:45:00","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=121547"},"modified":"2020-05-11T00:02:46","modified_gmt":"2020-05-11T08:02:46","slug":"realen-properties-to-continue-with-phase-ii-of-edgewater-apartments-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/realen-properties-to-continue-with-phase-ii-of-edgewater-apartments-2\/","title":{"rendered":"Realen Properties to Continue with Phase II of Edgewater Apartments"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">Construction is heating up in Center City Philadelphia as real estate developer Realen Properties of Berwyn, PA, and its finance partner Northwest Mutual Life prepare to break ground on Phase II of Edgewater Apartments, an upscale multifamily community that was partially completed in 2006 before the economic downturn.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/04\/edgewater-phase-II.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-121629\" title=\"edgewater phase II\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/04\/edgewater-phase-II.jpg\" alt=\"\" width=\"300\" height=\"249\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">According to the <em><a href=\"https:\/\/www.realen.com\/pages\/projects.asp?p=edgewater\" rel=\"nofollow\">developer\u2019s website<\/a><\/em>, Edgewater I is a fully occupied 13-story building at 23<sup>rd<\/sup> and Race Street that includes a combination of studios, one-, two-, and three-bedroom units totaling 290 apartments and  675 parking spaces, 75 of which are located in an underground parking garage. Construction at the 562,000-square-foot, $80 million tower started in 2003 under plans designed by locally based BLT Architects.<\/p>\n<p style=\"text-align: justify;\">Edgewater II will replace an existing surface parking lot at the Southwest corner of 23rd and Summer Streets behind Edgewater I, the <em><a href=\"https:\/\/www.bizjournals.com\/philadelphia\/blog\/natalie-kostelni\/2013\/04\/living-on-the-edge.html?iana=ind_cre\" rel=\"nofollow\">Philadelphia Business Journal<\/a><\/em> reports, and  it will add 240 rental units to the Logan Square neighborhood\u2019s housing inventory.<\/p>\n<p style=\"text-align: justify;\">Before breaking ground on the proposed 22-story tower, the development team must go through a rezoning process with the Philadelphia Planning Commission that could be finished by summer. Dennis Maloomian, president of Realen Properties, has already discussed the development plan with representatives of the Logan Square Neighborhood Association during a meeting held on April 16.<\/p>\n<h6 style=\"text-align: justify;\"><em>Rendering courtesy of Realen Properties<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Construction is heating up in Center City Philadelphia as real estate developer Realen Properties of Berwyn, PA, and its finance partner Northwest Mutual Life are planning to break ground on Phase II of Edgewater Apartments, an upscale multifamily complex that was partially completed in 2006 before the economic downturn.<\/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-1004071745","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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