It’s been more than a year since Oren Brothers Real Estate announced their plans to transform the old Croydon Building–aka the squatters’ Paradise City–into an apartment building with more than 100 rental units. Now West Philly Local’s Annamarya Scaccia confirms that construction is under way.
The air surrounding the looming 25,875 square-foot structure on 49th Street between Locust and Spruce Streets was heavy with raucous construction clatter when we visited the location Thursday afternoon. According to one worker on site, renovations of the Croydon began four months ago and should last two years, with the two wings hopefully completed by the fall.
Back in 2011, Oren Brothers projected a $10 million budget for the renovation of the hulking building complex. West Philly Local reported the following specs:
– One-, two- and three-bedroom apartments
– Market-rate rents from about $600 for a small one-bedroom to $1,300 for a three-bedroom
– 24-hour door person
The company also planned community gardens.
Renovation of “Paradise City” is underway [West Philly Local]