Posted Nov 4, 2022, 1:48 PM
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Chris
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Join Date: Aug 2020
Location: Earth
Posts: 2,074
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'We want to make a neighborhood': Construction begins on $500M NoLibs development
https://www.bizjournals.com/philadel...Pos=0#cxrecs_s
National Development and its partner in the venture, Jersey City, New Jersey-based Kushner Real Estate Group, officially broke ground Thursday for a 13-story, 360-apartment building at 200 Spring Garden St. Plans for the building also include 5,400 square feet of retail space and 10,000 square feet of public outdoor green space. It’s the first of several phases in which the developers plan to overhaul the block.
Killinger said construction on the first building is expected to be completed by the first quarter of 2024. The company plans to add a second apartment building with 400 units at 412-426 N. 2nd. St., on the northwest corner of North 2nd and Callowhill streets, though Killinger said a timeline for the second phase has not been set.
“In our organization we can work on things like sidewalks and lighting but really it was the redeveloping of the [area that] was going to be instrumental,” Killinger said, “and a catalyst really for making this a walkable commercial corridor and connecting our two neighborhoods.”
Apartment rents for tenants are expected to be comparable to other buildings in the area, Killinger said. The retail space at 200 Spring Garden will be anchored by City Fitness, which will occupy two floors.
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