Projects

Details

Size: 223,000 sf, phase two, 498,000 sf total
Cost: $69,500,000 phase two, $132,00,000 total
Completion: 2021, Phase Two

 

Radnor Property Group is the developer, owner and asset manager of this $132 million, 498,000 square foot mixed-use development on the Community College of Philadelphia’s campus and near Philadelphia’s burgeoning Museum District neighborhood. The project is comprised of two buildings standing at 10 and 16 stories, including 279 units (phase one), 297 units (phase two), 2,800 square feet of ground floor retail, community plaza/garden, underground parking for 138 cars, and residential amenities including an elaborate fitness center,  with yoga and crossfit studios and a sports simulator, game rooms, TV rooms, business centers, communal kitchens and a rooftop deck with spectacular views of downtown. The two phases share ground floor amenities and parking but are otherwise configured as separate buildings.

These studio, one-bedroom and two-bedroom market-rate apartments are being marketed to professionals working in the community as well as Community College of Philadelphia students, particularly international students, and students of nearby institutions. Occupancy of phase one began in August 2018 and was 90% rented a year later. Occupancy of phase two is scheduled to begin in August 2021. The development is a public/private partnership with Community College of Philadelphia via a long term ground lease arrangement.