{"id":1004103310,"date":"2014-09-04T06:15:00","date_gmt":"2014-09-04T14:15:00","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=289261"},"modified":"2021-05-15T08:31:03","modified_gmt":"2021-05-15T16:31:03","slug":"burlington-city-waterfront-revitalization-to-start-with-183-unit-residential-community","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/burlington-city-waterfront-revitalization-to-start-with-183-unit-residential-community\/","title":{"rendered":"Burlington City Waterfront Revitalization to Start with 183-Unit Residential Community"},"content":{"rendered":"

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

\"Pearl<\/a><\/p>\n

Pearl Pointe – Burlington City<\/p>\n<\/div>\n

Burlington City\u2019s bleak waterfront is set for a major transformation as the Common Council recently unveiled plans for a new residential development near the Delaware River in the city\u2019s historic district.<\/p>\n

Dubbed Pearl Pointe, the apartment community will be built by Phillipsburg-based Peron Development on a 3.8-acre city-owned site that encompasses two vacant parcels at High Street and Pearl Boulevard. As reported by the Philadelphia Inquirer<\/em><\/a>, Peron Development has entered an agreement with Burlington City officials to purchase the construction site for around $1.83 million and will chip in $100,000 for the cost of landscaping.<\/p>\n

\u201cThe City has a great history, a picturesque downtown, and a beautiful natural resource with the river,\u201d said in an official statement John Callahan, director of business development for Florio, Perrucci, Steinhardt & Fader, the law firm that represents Peron in the project. \u201cThat, combined with accessible light rail, makes Burlington an ideal city for residential development,\u201d he added.<\/p>\n

Designed by USA Architects for young professionals\u2014mostly millennials\u2014and empty-nesters looking to downsize, the Pearl Pointe community will comprise two four-story residential buildings totaling 183 luxury and market-rate apartments, and one of the buildings will include 8,000 square feet of restaurant or retail space. According to the Inquirer<\/a><\/em>, the units will be available for rents starting at $900 for a one-bedroom and $1,200 for a two-bedroom unit.<\/p>\n

With construction scheduled to start within the following weeks, Pearl Pointe will be completed by the end of 2015. The residential community is expected to be the centerpiece of a long-delayed waterfront revitalization master plan that will eventually become an arts district to include an entertainment venue, restaurants and various recreational spaces.<\/p>\n

 <\/p>\n

Click here<\/strong><\/a> for more market data on Philadelphia<\/strong>.<\/p>\n

Rendering courtesy of the City of Burlington<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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