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Post Brothers in $210M Redevelopment of Presidential City

PHILADELPHIA, PA—Presidential City, one of the largest multifamily complexes in the Philadelphia area, is getting a $210 million makeover that will transform more than 1,000 apartment units in buildings named for colonial era presidents into luxury living spaces with upscale amenities.

By Steve Lubetkin | Updated on October 20, 2015

PHILADELPHIA, PA—One of the largest multifamily complexes in the Philadelphia area is getting a $210 million makeover that will transform more than 1,000 apartment units in buildings named for colonial era presidents into luxury living spaces with upscale amenities.

Post Brothers, a local firm that focuses on developing and operating high quality class-A multifamily properties,acquired Presidential City, 3900 City Ave., in 2012. The four-building complex was built in the 1950s by John McShain, who also built the Pentagon and the Jefferson Memorial, says Matt Pestronk, a principal of the firm with his brother Michael.

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