A 25-story apartment tower and adjacent administrative building — totaling 326,000 square feet — will break ground today at 3737 Chestnut. The development of the $110 million, mixed-use project is being touted by partners Radnor Property Group and Philadelphia Episcopal Cathedral as “creating a second Philly downtown” and “spurring West Philly economy.” The anticipated number of new jobs during construction are 432, and the city expects to get $1 million in tax revenues. Also estimated: 157 permanent jobs resulting in tax revenues of $460,000. Income from the project will also be directed to maintenance of the historic cathedral next door.
The project has not been without controversy, but today Deputy Mayor for Economic Development Alan Greenberger,Councilwoman Jannie Blackwell, The Very Reverend Dean Judith Sullivan will make happy noises to start the journey.
WHEN: Thursday, December 5, 2pm
WHERE: 3737 Chestnut Street (Northeast corner of 38th and Chestnut) close to Ludlow, in the lobby of the Episcopal Church.