(To read more on the multifamily market, click here.)

PHILADELPHIA-New York City-based AFR Realty Corp. has formed ajoint venture with Ed Bernstein, a local investor, and RichardZeghibe, president and CEO of locally based Patriot Parking Inc.,to develop Schuylkill West Townhomes. The 43 two-story units weredesigned to sell for between $600,000 and $950,000.

Zeghibe tells GlobeSt.com the partners paid "north of $3million" for the land, which is now an open-air parking lot at N.23rd and Cherry streets. "We're currently going through thepermitting process. We'll go before the zoning board in October andhope to break ground by the end of the year or early 2006."

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