Leasing Begins at Broadridge, By the Unit or By the Room
In addition to opening up Broadridge for leasing, RAL Companies has inked a deal with Common to offer co-living as an option for would-be residents.
First piece of good news: that huge Aldi on the ground floor of the Broadridge mixed-use development is doing quite well.
Second piece of good news: RAL Companies has begun leasing apartments in the 478-unit residential building, effective today.
Third piece of good news: If you want to live here but don’t want to rent an entire apartment and don’t have roommates willing to move in with you, they have you covered now as well.
That last piece of good news comes about because Common, a leading operator of furnished shared-living communities, has agreed to manage and lease the 147 apartments that were designed for co-living on the fifth, sixth and seventh floors of the building. That makes a total of 249 co-living units and 42 studio apartments, all furnished, that will be available on a flexible, just-pack-your-bags-and-move basis.
“We’re thrilled to be working with an innovative partner like RAL Companies,” Common founder and CEO Brad Hargreaves says in an emailed statement. “Broadridge is an attainable high-quality building perfect for Philadelphians looking to live in a space that truly has everything from nearby public transportation to a tight-knit neighborhood.
“Philadelphia is an ideal location for the Common offering because we can help the increasingly priced-out young professionals and influx of new renters from other cities after COVID-19. Our presence will only enhance the convenience and community RAL Companies has already built.”
In addition to the furniture, Common also provides cookware, dishes, silverware, glassware and small appliances for the kitchen and basic supplies for the kitchen and bathrooms. Common staff also clean the shared living spaces weekly and handle maintenance requests.
Common’s membership model is also ideal for today’s highly mobile workers: It offers leases as short as three months, and a member can choose from residences in eight U.S. cities on both coasts plus Chicago in the Midwest when they feel like moving. In a work-from-home world, this offers footloose employees the chance to give a city a trial run before deciding whether to commit, and it also offers transplants a convenient launchpad for their lives in a new city.
Common Broadridge will be the company’s third Philadelphia location. It already offers co-living at Common Frankford in Fishtown and Common Civic at the Civic apartment complex in Francisville.
The Rent Philly team of Gaurav Gambhir, Boots Levinson and Angela Calvanese at Keller Williams Philadelphia will handle the leasing of the regular apartments.
RAL is still putting the finishing touches on the apartment building. The developer expects to welcome the first residents on May 1st. In the meantime, it has released some more renderings of what residents can expect to see when they move in.
Broadridge and Common Broadridge by the Numbers
Address: 1300 Fairmount Ave., Philadelphia, Pa. 19123
Number of traditional apartments: 331 studio, one- and two-bedroom apartments, ranging in size from 388 to 1,172 square feet. Studio apartments, some with alcoves, range in size from 388 to 626 square feet; one-bedrooms, from 583 to 900 square feet; two-bedrooms, from 932 to 1,172 square feet.
Number of Common co-living units: 291. Forty-two of these are furnished studio apartments. Of the remaining 249 units, 132 are in 66 two-bedroom shared suites and 117 are in 39 three-bedroom shared suites.
Number of parking spaces: 155 resident parking spaces in a garage shared with the shops below, plus 160 bike rack spaces
Pet policy: Pets welcome in the apartments; contact leasing office for details about breed and size restrictions, number allowed per unit and deposits and pet rent. Common restricts pets to its furnished apartments, with exceptions made for service animals in co-living units.
Rents: For the traditional apartments: Studios, $1,400 to $1,900 per month; studios with alcoves, $1,625 to $1,950 per month; one-bedrooms, $1,600 to $2,600 per month; two-bedrooms, $2,800 to $3,400 per month. Rents for the co-living units will be set by Common; an RAL spokesperson says Common rents typically run 15 to 25 percent less than what a typical studio apartment would cost per month but adds that the furnished studios will rent for market rates. Contact Common for details.