(Left to right) Community College of Philadelphia Board Chairman Jeremiah White, Jr, CCP President Donald Generals, Radnor Property Group President David Yeager, City Council President Darrell L. Clarke, Logan Square Neighborhood Association President Drew Murray and City Council member Allan Domb broke chunks of brick wall at today’s “demolition” ceremony to mark the start of construction on the first phase of The Hamilton. | Photo: HughE Dillon
Philadelphia City Council members, Community College of Philadelphia officials, and executives of Radnor Property Group gathered before an invited audience this morning (Sept. 12th) to mark the official start of construction on the first phase of The Hamilton, RPG’s $150 million mixed-use development.
They did so in what remains of the former Philadelphia Inquirer and Daily News newsprint transfer facility by swinging sledgehammers into ceremonial chunks of brick wall salvaged from the partially demolished structure.
The portion still standing will become the parking garage, amenity floor and outdoor terrace for the first of the two apartment buildings. Atop this one-story, high-ceilinged base will rise a nine-story, C-shaped apartment tower. In addition to the building lobby, amenities and a 150-space parking garage, the base will also contain 1,600 square feet of retail space. Read more »
3737 Chestnut, shown here in an architect’s rendering, was just sold for $118 million. | Rendering: BLT Architects via Radnor Property Group
One of the first of the new high-rise apartment towers that are reshaping the University City skyline has a new owner: Radnor Property Group announced today that it had sold 3737 Chestnut, a project developed in partnership with the Philadelphia Episcopal Cathedral, to a joint venture of Korman Residential and The Carlyle Group for $118 million.
That’s a very nice return on Radnor’s original $92.5 million investment in the project, which was completed in the fall of 2015.
One of the factors contributing to the strong sale is the building’s occupancy status: all 276 of the apartments in the 26-story tower are currently occupied.
Radnor CEO Dave Yeager says the sale just made sense right now. Read more »
Vue32 offers many amenities, but this is the one management’s counting on to wow the tenants. | Photos: Sandy Smith
When we checked out the Vue32 project ten months ago, it was only barely rising from a hole in the ground.
It’s progressed quite nicely since then, and its developer, Radnor Property Group (RPG), expects to open the first element of the mixed-use tower — a day care facility and preschool on its first two floors — sometime around the end of next month.
And so it was that construction crews from general contractor TN Ward Company were all over the site when we visited yesterday, sprinting to finish the various pieces of this complex.
Actually, several of the apartment floors were closer to completion than the day care center was, probably so Vue32 property manager Bozzuto Management Group could show prospective tenants the actual spaces they could call home starting Real Soon Now. Read more »
Rendering of the proposed Hamilton development’s Hamilton Street elevation. | Renderings: MY Architecture
Having developed two apartment towers in University City, Radnor Property Group (RPG) is turning its sights to the North Broad Street corridor for its next in-city project.
Curbed Philly reports that the developer has submitted a proposal for a mixed-use project called The Hamilton to the Civic Design Review panel. The project consists of two towers containing a combined 600 residential units, 8,000 square feet of street-level retail, and a partly buried 150-space parking garage.
The design by MY Architecture shows two towers, one of then 197 feet high and the other 131 feet high, clad in metal and glass. RPG proposes to construct the project in two phases. Read more »
Architect’s rendering of Vue32 in the context of its surroundings | Rendering by Erdy McHenry Architecture courtesy Cashman & Associates
Ground was ceremonially broken one week ago for Vue32, the new apartment tower Radnor Property Group (RPG) is building and will manage for Drexel University at 32nd and Race streets. But a recent hard-hat tour of the site reveals that work on the foundation and substructure is well under way.
RPG President David Yeager led us on a hard-hat tour of the construction site and explained why the slender 16-story tower looks the way it does and how all the pieces of the project, which also includes a row of townhouses, fell into place.
Yeager worked with Drexel President John Fry on a series of redevelopment projects on and around the Franklin & Marshall College campus in Lancaster, and now that he’s back in Philly, Fry has turned to Yeager and his company again to help him carry out Drexel’s master campus plan. The Vue32 project advances two key elements of it: reducing the pressure on off-campus housing in Powelton Village by providing more apartments for members of the Drexel community and promoting homeownership by Drexel faculty and staff in the neighborhood as well. Read more »
Photos by Ray Cavicchio
Market Street has garnered the lion share of the attention recently when it comes to flashy announcements in real estate development. Now it’s Chestnut Street’s turn, as the newest residential high-rise has officially opened its fancy doors at 38th and Chestnut Street in University City.
3737 Chestnut is a 26-story apartment building comprised of 276 market rate units. A recent press release states that “more than 37% of the building” is already leased (over 102 units, you’re welcome), and the floor plans include floor-to-ceiling windows, spacious kitchens with movable islands and walk-in closets. BLT Architects designed the $95 million building.
Radnor Property Group is the developer of the project, and CEO David Yeager seems excited to be joining the booming Eds, Meds and Tech scene in University City: “The University City District is experiencing unprecedented growth and vitality. We realize this amazing transformation is occurring right before our eyes and endeavored to participate in it with the creation of 3737 Chestnut Street.” So there you go.
Read more »
3201 Race Street, looking west | Rendering via Erdy McHenry Architecture/Radnor Property Group
A Drexel-owned lot at 3201 Race Street looks to have a new life in its not-too-distant future. Radnor Property Group plans for a glassy 16-story apartment tower designed by Philly-based Erdy McHenry Architecture. 164 market rate apartment units will rise above a mixed-use platform that will contain a large childcare facility and a public green space that looks over the train tracks towards Center City.
David Yeager, president of Radnor Property Group, said the project was born out of a request for proposal from Drexel University for projects geared towards market rate housing and childcare for their staff and the nearby community. Yeager described it as another “cog” in the wheel of Drexel president John Fry’s vision for the Innovation Neighborhood and beyond.
The project will also include 12 market rate townhomes to the north, a green roof and an underground parking facility with 26 spaces. There are also 61 bike spots and two car share spaces.
It’s also important to note Read more »
3737 Chestnut, Image courtesy Radnor Property Group
3737 Chestnut, touted as University City’s first market-rate high-rise residential complex, is about to celebrate its “topping off” ceremony next week on January 14 at 1:30 p.m. The project broke ground a little over a year ago and occupancy of the 25-story, 276 unit mixed-use apartment tower with ground-floor retail is expected in August of this year.
Radnor Property Group and non-profit Philadelphia Episcopal Cathedral are partners in the development of the tower, which will cater towards “urban professionals and graduate students” (Millennials). The partnership is important, as the project also includes the construction of a three-story office building, a community center, an early learning childcare facility and improvements to the 19th-century Cathedral building, according to a press release about the topping off ceremony.
Check out the designs of the apartments!